Ninepoint Partners LP Makes New Investment in Wheaton Precious Metals Corp. (NYSE:WPM)

Ninepoint Partners LP purchased a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 24,391 shares of the company's stock, valued at approximately $1,893,000.

Other large investors have also modified their holdings of the company. Sei Investments Co. boosted its stake in shares of Wheaton Precious Metals by 25.7% during the 4th quarter. Sei Investments Co. now owns 40,769 shares of the company's stock worth $2,293,000 after acquiring an additional 8,331 shares in the last quarter. Cerity Partners LLC boosted its stake 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 worth $1,574,000 after acquiring an additional 1,058 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake 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 worth $630,000 after acquiring an additional 2,208 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake 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 worth $419,000 after acquiring an additional 297 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC bought a new stake in shares of Wheaton Precious Metals during the 1st quarter worth $531,000. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Stock Performance

Shares of NYSE:WPM traded down $0.00 during midday trading on Friday, hitting $94.01. 1,551,796 shares of the stock were exchanged, compared to its average volume of 1,706,384. Wheaton Precious Metals Corp. has a 52-week low of $53.05 and a 52-week high of $96.83. The business's fifty day simple moving average is $89.20 and its two-hundred day simple moving average is $77.78. The company has a market capitalization of $42.68 billion, a PE ratio of 56.63, a P/E/G ratio of 2.64 and a beta of 0.46.

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

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.66 annualized dividend and a dividend yield of 0.70%. Wheaton Precious Metals's dividend payout ratio is 48.53%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on WPM shares. CIBC reissued an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, July 15th. Scotiabank raised their price objective on Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a "sector outperform" rating in a research note on Monday, April 14th. Wall Street Zen upgraded Wheaton Precious Metals from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Berenberg Bank increased their target price on Wheaton Precious Metals from $87.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Finally, National Bankshares restated an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, June 24th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $93.00.

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.