JPMorgan Chase & Co. Boosts Stake in Wheaton Precious Metals Corp. (NYSE:WPM)

Key Points

• JPMorgan Chase & Co. increased its stake in Wheaton Precious Metals Corp. by 5.0%, acquiring an additional 144,782 shares to reach a total of 3,060,056 shares valued at approximately $237.55 million.
• Wheaton Precious Metals' stock has recently received mixed ratings from analysts, with price targets varying from $90.00 to $95.00, and a consensus rating of "Moderate Buy."
• The company announced a quarterly dividend of $0.165 per share, reflecting a 0.7% yield, set to be paid to investors of record on August 21.

JPMorgan Chase & Co. grew its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 5.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,060,056 shares of the company's stock after acquiring an additional 144,782 shares during the period. JPMorgan Chase & Co. owned about 0.67% of Wheaton Precious Metals worth $237,552,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cerity Partners LLC grew its position in shares of Wheaton Precious Metals by 5.5% during the 1st quarter. Cerity Partners LLC now owns 20,271 shares of the company's stock valued at $1,574,000 after acquiring an additional 1,058 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Wheaton Precious Metals by 37.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,109 shares of the company's stock valued at $630,000 after acquiring an additional 2,208 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Wheaton Precious Metals by 5.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 5,392 shares of the company's stock valued at $419,000 after acquiring an additional 297 shares during the period. Dynamic Advisor Solutions LLC bought a new position in shares of Wheaton Precious Metals during the 1st quarter valued at approximately $531,000. Finally, Principal Financial Group Inc. grew its position in shares of Wheaton Precious Metals by 34.6% during the 1st quarter. Principal Financial Group Inc. now owns 25,244 shares of the company's stock valued at $1,959,000 after acquiring an additional 6,486 shares during the period. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Price Performance

NYSE:WPM remained flat at $94.28 during trading hours on Friday. 1,619,574 shares of the company's stock traded hands, compared to its average volume of 1,929,511. The business's 50 day moving average price is $91.95 and its 200 day moving average price is $81.87. Wheaton Precious Metals Corp. has a 1 year low of $55.47 and a 1 year high of $103.81. The stock has a market cap of $42.80 billion, a price-to-earnings ratio of 54.50, a price-to-earnings-growth ratio of 2.62 and a beta of 0.39.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted 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 firm had revenue of $503.22 million for the quarter, compared to analysts' expectations of $424.23 million. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The business's quarterly revenue was up 68.2% on a year-over-year basis. During the same quarter last year, the company posted $0.33 EPS. Research analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Announces Dividend

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

Wall Street Analyst Weigh In

WPM has been the subject of several analyst reports. Berenberg Bank raised their price objective on shares of Wheaton Precious Metals from $87.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. UBS Group set a $106.00 price objective on shares of Wheaton Precious Metals and gave the stock a "neutral" rating in a report on Monday. CIBC reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, July 15th. Royal Bank Of Canada raised their price objective 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. Finally, Wall Street Zen downgraded shares of 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 assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average 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.