Sequoia Financial Advisors LLC Increases Holdings in Wheaton Precious Metals Corp. $WPM

Key Points

• Sequoia Financial Advisors LLC increased its holdings in Wheaton Precious Metals by 44.9%, owning 7,813 shares valued at $702,000 after purchasing an additional 2,421 shares in the second quarter.
• Several hedge funds showed increased investment in Wheaton Precious Metals, with Canada Pension Plan Investment Board raising its stake by 57.6% during the first quarter, now holding over 2 million shares valued at approximately $162.8 million.
• Analyst ratings for Wheaton Precious Metals are predominantly positive, with CIBC raising its price target from $135 to $160 and an average rating of "Moderate Buy" reported across multiple research firms.

Sequoia Financial Advisors LLC raised its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 44.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,813 shares of the company's stock after buying an additional 2,421 shares during the period. Sequoia Financial Advisors LLC's holdings in Wheaton Precious Metals were worth $702,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in WPM. Canada Pension Plan Investment Board raised its stake in Wheaton Precious Metals by 57.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,097,735 shares of the company's stock valued at $162,811,000 after buying an additional 766,947 shares during the last quarter. Amundi raised its stake in Wheaton Precious Metals by 33.2% during the 1st quarter. Amundi now owns 2,745,947 shares of the company's stock valued at $215,557,000 after buying an additional 683,674 shares during the last quarter. Perpetual Ltd purchased a new stake in Wheaton Precious Metals during the 1st quarter valued at $50,430,000. Nuveen LLC purchased a new stake in Wheaton Precious Metals during the 1st quarter valued at $36,885,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Wheaton Precious Metals by 10.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,072,786 shares of the company's stock worth $393,800,000 after purchasing an additional 470,651 shares in the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on WPM. CIBC upped their price objective on Wheaton Precious Metals from $135.00 to $160.00 and gave the stock an "outperformer" rating in a research note on Friday, October 10th. Raymond James Financial upped their price objective on Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an "outperform" rating in a research note on Friday, October 10th. Wall Street Zen upgraded Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research note on Monday, September 8th. BMO Capital Markets restated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Friday, August 8th. Finally, UBS Group upped their price objective on Wheaton Precious Metals from $118.00 to $122.00 and gave the stock a "neutral" rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $116.89.

Wheaton Precious Metals Stock Performance

Shares of WPM stock opened at $104.68 on Friday. Wheaton Precious Metals Corp. has a 52-week low of $55.47 and a 52-week high of $114.36. The firm has a market capitalization of $47.52 billion, a PE ratio of 60.51, a PEG ratio of 2.79 and a beta of 0.41. The stock has a fifty day simple moving average of $103.49 and a two-hundred day simple moving average of $92.56.

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

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 21st. 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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