MTM Investment Management LLC Makes New Investment in Wheaton Precious Metals Corp. (NYSE:WPM)

MTM Investment Management LLC acquired a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,350 shares of the company's stock, valued at approximately $257,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Wheaton Precious Metals by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 17,672,518 shares of the company's stock worth $994,733,000 after purchasing an additional 281,123 shares during the last quarter. FMR LLC grew its stake in shares of Wheaton Precious Metals by 5.9% in the fourth quarter. FMR LLC now owns 15,529,219 shares of the company's stock valued at $873,995,000 after buying an additional 863,306 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Wheaton Precious Metals by 5.0% in the fourth quarter. Royal Bank of Canada now owns 9,424,930 shares of the company's stock valued at $530,057,000 after buying an additional 447,702 shares in the last quarter. Norges Bank acquired a new position in Wheaton Precious Metals during the fourth quarter worth $472,648,000. Finally, TD Asset Management Inc. raised its position in Wheaton Precious Metals by 9.6% during the fourth quarter. TD Asset Management Inc. now owns 7,156,818 shares of the company's stock worth $402,627,000 after acquiring an additional 629,743 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Wall Street Zen raised shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. BMO Capital Markets began coverage on Wheaton Precious Metals in a report on Wednesday, April 16th. They set an "outperform" rating and a $129.00 price target for the company. National Bankshares restated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. Scotiabank raised their price objective on Wheaton Precious Metals from $79.00 to $87.00 and gave the company a "sector outperform" rating in a research report on Monday, April 14th. Finally, Berenberg Bank boosted 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. One analyst has rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $93.00.

Wheaton Precious Metals Price Performance

WPM traded up $0.42 during trading on Monday, hitting $91.44. The stock had a trading volume of 2,234,700 shares, compared to its average volume of 1,854,390. The company has a 50 day moving average price of $87.39 and a 200-day moving average price of $75.87. Wheaton Precious Metals Corp. has a one year low of $53.05 and a one year high of $95.23. The firm has a market cap of $41.51 billion, a price-to-earnings ratio of 67.23, a P/E/G ratio of 2.68 and a beta of 0.46.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.55 earnings per share (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 company had revenue of $470.41 million during the quarter, compared to analysts' expectations of $446.33 million. During the same quarter in the previous year, the business posted $0.36 earnings per share. Wheaton Precious Metals's quarterly revenue was up 58.4% on a year-over-year basis. As a group, sell-side analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend was Wednesday, May 28th. 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.