Riggs Asset Managment Co. Inc. Buys Shares of 12,058 Wheaton Precious Metals Corp. (NYSE:WPM)

Riggs Asset Managment Co. Inc. bought a new stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 12,058 shares of the company's stock, valued at approximately $936,000.

A number of other hedge funds have also recently modified their holdings of WPM. NBT Bank N A NY increased its position in Wheaton Precious Metals by 129.3% during the first 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 period. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Wheaton Precious Metals during the fourth quarter worth approximately $38,000. Headlands Technologies LLC grew its position in shares of Wheaton Precious Metals by 494.9% during the fourth quarter. Headlands Technologies LLC now owns 696 shares of the company's stock worth $39,000 after acquiring an additional 579 shares during the last quarter. Flagship Wealth Advisors LLC acquired a new position in shares of Wheaton Precious Metals in the 4th quarter valued at $41,000. Finally, Princeton Global Asset Management LLC purchased a new stake in Wheaton Precious Metals in the 1st quarter valued at $52,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on WPM. CIBC increased their price target on shares of Wheaton Precious Metals from $95.00 to $105.00 and gave the stock an "outperformer" rating in a research note on Friday, May 9th. Wall Street Zen upgraded shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. UBS Group raised their price target on Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a report on Friday, April 11th. BMO Capital Markets assumed coverage on Wheaton Precious Metals in a research note on Wednesday, April 16th. They set an "outperform" rating and a $129.00 price objective for the company. Finally, National Bankshares reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $93.00.

Wheaton Precious Metals Price Performance

Shares of WPM stock traded up $0.96 during midday trading on Friday, reaching $90.65. 778,170 shares of the company traded hands, compared to its average volume of 1,714,054. The firm's 50 day simple moving average is $86.59 and its two-hundred day simple moving average is $74.61. Wheaton Precious Metals Corp. has a 1-year low of $53.05 and a 1-year high of $95.23. The firm has a market cap of $41.15 billion, a PE ratio of 66.65, a price-to-earnings-growth ratio of 2.74 and a beta of 0.46.

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

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders 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 yield of 0.73%. Wheaton Precious Metals's dividend payout ratio (DPR) is currently 48.53%.

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.