Medici Capital LLC Invests $2.80 Million in Wheaton Precious Metals Corp. (NYSE:WPM)

Medici Capital LLC acquired a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 36,000 shares of the company's stock, valued at approximately $2,795,000. Wheaton Precious Metals accounts for approximately 3.4% of Medici Capital LLC's portfolio, making the stock its 6th biggest position.

Other hedge funds have also modified their holdings of the company. Promus Capital LLC acquired a new position in shares of Wheaton Precious Metals during the fourth quarter worth $32,000. NBT Bank N A NY lifted its holdings in Wheaton Precious Metals by 129.3% during the 1st quarter. NBT Bank N A NY now owns 415 shares of the company's stock worth $32,000 after buying an additional 234 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Wheaton Precious Metals during the 4th quarter worth about $38,000. Quintet Private Bank Europe S.A. acquired a new position in shares of Wheaton Precious Metals during the 4th quarter worth about $39,000. Finally, Headlands Technologies LLC increased its holdings in shares of Wheaton Precious Metals by 494.9% in the 4th quarter. Headlands Technologies LLC now owns 696 shares of the company's stock valued at $39,000 after acquiring an additional 579 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. National Bankshares restated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Wednesday, April 23rd. Raymond James Financial boosted their price target on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the company an "outperform" rating in a research report on Tuesday, April 15th. BMO Capital Markets initiated coverage on Wheaton Precious Metals in a report on Wednesday, April 16th. They set an "outperform" rating and a $129.00 price objective on the stock. Royal Bank Of Canada boosted their target price on Wheaton Precious Metals from $80.00 to $90.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Finally, CIBC upped their target price on Wheaton Precious Metals from $95.00 to $105.00 and gave the company an "outperformer" rating in a research report on Friday, May 9th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $86.90.

Wheaton Precious Metals Stock Performance

Wheaton Precious Metals stock traded down $1.78 during trading hours on Friday, reaching $89.29. 2,400,385 shares of the stock were exchanged, compared to its average volume of 1,697,086. Wheaton Precious Metals Corp. has a 52-week low of $51.96 and a 52-week high of $95.23. The stock has a market cap of $40.52 billion, a P/E ratio of 65.66, a P/E/G ratio of 2.84 and a beta of 0.46. The firm's 50 day moving average is $85.19 and its 200 day moving average is $72.38.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.05. Wheaton Precious Metals had a net margin of 42.45% and a return on equity of 10.32%. The firm had revenue of $470.41 million during the quarter, compared to the consensus estimate of $446.33 million. During the same quarter last year, the firm earned $0.36 earnings per share. The firm's revenue was up 58.4% compared to the same quarter last year. Equities research analysts expect that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were issued a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.66 annualized dividend and a dividend yield of 0.74%. Wheaton Precious Metals's dividend payout ratio is currently 48.53%.

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.