Integrated Wealth Concepts LLC Acquires Shares of 37,161 Wheaton Precious Metals Corp. $WPM

Key Points

• Integrated Wealth Concepts LLC has acquired 37,161 shares of Wheaton Precious Metals Corp., valued at approximately $2,885,000, indicating a solid investment in the mining sector.
• In the first quarter, institutional investors and hedge funds collectively own 70.34% of Wheaton Precious Metals' stock, showing strong institutional confidence in the company.
• Wheaton Precious Metals has a recent quarterly earnings report showcasing $0.63 EPS, exceeding expectations and reflecting a 68.2% increase in revenue compared to the same quarter last year.

Integrated Wealth Concepts LLC bought a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 37,161 shares of the company's stock, valued at approximately $2,885,000.

Other institutional investors also recently bought and sold shares of the company. NBT Bank N A NY boosted its stake in Wheaton Precious Metals by 129.3% in the first quarter. NBT Bank N A NY now owns 415 shares of the company's stock valued at $32,000 after acquiring an additional 234 shares in the last quarter. Wealth Preservation Advisors LLC acquired a new stake in Wheaton Precious Metals in the first quarter valued at approximately $38,000. Banque Cantonale Vaudoise acquired a new stake in Wheaton Precious Metals in the first quarter valued at approximately $49,000. Princeton Global Asset Management LLC acquired a new stake in Wheaton Precious Metals in the first quarter valued at approximately $52,000. Finally, Penserra Capital Management LLC boosted its stake in Wheaton Precious Metals by 1,812.8% in the first quarter. Penserra Capital Management LLC now owns 746 shares of the company's stock valued at $57,000 after acquiring an additional 707 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock traded down $0.58 during trading on Friday, hitting $106.79. 1,751,986 shares of the company's stock were exchanged, compared to its average volume of 1,857,433. The business has a 50-day simple moving average of $95.58 and a 200-day simple moving average of $86.18. Wheaton Precious Metals Corp. has a 52-week low of $55.47 and a 52-week high of $108.67. The stock has a market capitalization of $48.48 billion, a price-to-earnings ratio of 61.73, a PEG ratio of 2.90 and a beta of 0.42.

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

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were issued a $0.165 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.66 dividend on an annualized basis and a yield of 0.6%. Wheaton Precious Metals's payout ratio is presently 38.15%.

Analysts Set New Price Targets

WPM has been the subject of several recent analyst reports. Raymond James Financial raised their target price on shares of Wheaton Precious Metals from $112.00 to $114.00 and gave the company an "outperform" rating in a research note on Friday. Wall Street Zen upgraded shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research note on Monday. Royal Bank Of Canada raised their price target on shares of 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 reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, July 15th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $101.44.

Wheaton Precious Metals Company 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.