SeaBridge Investment Advisors LLC Purchases 2,326 Shares of Wheaton Precious Metals Corp. $WPM

Key Points

• SeaBridge Investment Advisors LLC has increased its holdings in Wheaton Precious Metals Corp. by 3.8%, acquiring an additional 2,326 shares, bringing their total to 64,223 shares valued at approximately $5.77 million.
• A number of analysts have raised their price targets for Wheaton Precious Metals, with CIBC setting a new target of $135.00, noting an "outperform" rating.
• Wheaton Precious Metals reported a strong quarterly earnings performance, with earnings per share (EPS) of $0.63, which exceeded analysts’ expectations and marked a 68.2% year-over-year revenue increase.

SeaBridge Investment Advisors LLC increased its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 3.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 64,223 shares of the company's stock after acquiring an additional 2,326 shares during the period. Wheaton Precious Metals makes up about 1.1% of SeaBridge Investment Advisors LLC's holdings, making the stock its 25th biggest position. SeaBridge Investment Advisors LLC's holdings in Wheaton Precious Metals were worth $5,767,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of WPM. Wealth Enhancement Advisory Services LLC increased its holdings in Wheaton Precious Metals by 14.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 58,047 shares of the company's stock worth $3,265,000 after acquiring an additional 7,265 shares during the period. Versant Capital Management Inc increased its holdings in Wheaton Precious Metals by 125.6% during the 1st quarter. Versant Capital Management Inc now owns 1,146 shares of the company's stock worth $89,000 after acquiring an additional 638 shares during the period. Moody National Bank Trust Division purchased a new position in Wheaton Precious Metals in the 1st quarter worth approximately $320,000. GAMMA Investing LLC grew its stake in Wheaton Precious Metals by 7,695.0% in the 1st quarter. GAMMA Investing LLC now owns 56,670 shares of the company's stock worth $4,399,000 after buying an additional 55,943 shares in the last quarter. Finally, GoalVest Advisory LLC grew its stake in Wheaton Precious Metals by 12.0% in the 1st quarter. GoalVest Advisory LLC now owns 13,950 shares of the company's stock worth $1,083,000 after buying an additional 1,500 shares in the last quarter. Institutional investors own 70.34% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on WPM shares. CIBC boosted their price target on shares of Wheaton Precious Metals from $130.00 to $135.00 and gave the stock an "outperform" rating in a research note on Thursday. BMO Capital Markets reissued an "outperform" rating on shares of Wheaton Precious Metals in a research note on Friday, August 8th. Scotiabank boosted their price target on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 12th. Wall Street Zen raised shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research note on Monday, September 8th. Finally, Raymond James Financial boosted their price target on shares of Wheaton Precious Metals from $112.00 to $114.00 and gave the stock an "outperform" rating in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $106.11.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock opened at $109.01 on Friday. Wheaton Precious Metals Corp. has a 52-week low of $55.47 and a 52-week high of $109.67. The stock has a market capitalization of $49.49 billion, a price-to-earnings ratio of 63.01, a price-to-earnings-growth ratio of 2.90 and a beta of 0.42. The company has a fifty day moving average of $99.28 and a 200-day moving average of $88.99.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.05. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The company had revenue of $503.22 million during the quarter, compared to analysts' expectations of $424.23 million. During the same quarter in the prior year, the company earned $0.33 EPS. The firm's revenue was up 68.2% on a year-over-year basis. On average, equities research analysts forecast that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were paid a $0.165 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.6%. Wheaton Precious Metals's dividend payout ratio is 38.15%.

About Wheaton Precious Metals

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.

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