HighTower Advisors LLC Has $21.43 Million Stock Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Key Points

• HighTower Advisors LLC increased its stake in Wheaton Precious Metals by 31.6%, owning $21.43 million worth of shares after purchasing 66,332 additional shares during the first quarter.
• The company reported earnings per share of $0.63 for the last quarter, exceeding estimates and reflecting a 68.2% revenue increase year-over-year.
• Wheaton Precious Metals will pay a quarterly dividend of $0.165 on September 4, representing an annualized yield of 0.7%.

HighTower Advisors LLC raised its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 31.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 276,059 shares of the company's stock after buying an additional 66,332 shares during the quarter. HighTower Advisors LLC owned 0.06% of Wheaton Precious Metals worth $21,430,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WPM. Capital International Investors acquired a new position in Wheaton Precious Metals in the 4th quarter valued at $263,810,000. Mackenzie Financial Corp grew its holdings in Wheaton Precious Metals by 54.4% in the 4th quarter. Mackenzie Financial Corp now owns 3,223,154 shares of the company's stock valued at $181,227,000 after buying an additional 1,135,699 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in Wheaton Precious Metals by 1,321.7% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,221,522 shares of the company's stock valued at $68,720,000 after buying an additional 1,135,603 shares in the last quarter. Perpetual Ltd acquired a new position in Wheaton Precious Metals in the 1st quarter valued at $50,430,000. Finally, BLI Banque de Luxembourg Investments acquired a new position in Wheaton Precious Metals in the 4th quarter valued at $36,127,000. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Price Performance

NYSE:WPM opened at $94.28 on Friday. The stock's 50-day simple moving average is $91.95 and its 200 day simple moving average is $81.87. The firm has a market capitalization of $42.80 billion, a PE ratio of 54.50, a price-to-earnings-growth ratio of 2.62 and a beta of 0.39. Wheaton Precious Metals Corp. has a twelve month low of $55.47 and a twelve month high of $103.81.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. The business had revenue of $503.22 million for the quarter, compared to analyst estimates of $424.23 million. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%. Wheaton Precious Metals's revenue was up 68.2% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share. On average, analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be paid a $0.165 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.66 annualized dividend and a yield of 0.7%. Wheaton Precious Metals's dividend payout ratio (DPR) is 38.15%.

Analyst Upgrades and Downgrades

WPM has been the topic of a number of research reports. Scotiabank upped their price objective on Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector outperform" rating in a report on Tuesday. Berenberg Bank increased their target price on Wheaton Precious Metals from $87.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Royal Bank Of Canada increased their target price on Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. CIBC reissued an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, July 15th. Finally, Wall Street Zen lowered Wheaton Precious Metals from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $97.33.

Wheaton Precious Metals Profile

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.

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