Sowell Financial Services LLC Buys Shares of 9,911 Wheaton Precious Metals Corp. (NYSE:WPM)

Sowell Financial Services LLC bought a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 9,911 shares of the company's stock, valued at approximately $769,000.

Other large investors also recently modified their holdings of the company. Promus Capital LLC acquired a new stake in shares of Wheaton Precious Metals during the fourth quarter worth approximately $32,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Wheaton Precious Metals during the 4th quarter worth approximately $38,000. Quintet Private Bank Europe S.A. acquired a new position in shares of Wheaton Precious Metals during the 4th quarter worth about $39,000. Headlands Technologies LLC lifted its stake in Wheaton Precious Metals by 494.9% in the fourth quarter. Headlands Technologies LLC now owns 696 shares of the company's stock valued at $39,000 after acquiring an additional 579 shares during the last quarter. Finally, Flagship Wealth Advisors LLC acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at approximately $41,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on WPM. National Bankshares reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research note on Wednesday, April 23rd. Wall Street Zen upgraded shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. BMO Capital Markets initiated coverage on Wheaton Precious Metals in a research note on Wednesday, April 16th. They issued an "outperform" rating and a $129.00 target price for the company. CIBC lifted their price target on Wheaton Precious Metals from $95.00 to $105.00 and gave the company an "outperformer" rating in a research note on Friday, May 9th. Finally, Raymond James Financial upped their price objective on Wheaton Precious Metals from $88.00 to $90.00 and gave the company an "outperform" rating in a research note on Tuesday, April 15th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $86.90.

Wheaton Precious Metals Price Performance

Shares of NYSE:WPM traded down $1.78 during mid-day trading on Friday, reaching $89.29. 2,400,416 shares of the company traded hands, compared to its average volume of 1,689,104. The firm has a market cap of $40.52 billion, a PE ratio of 65.66, a PEG ratio of 2.78 and a beta of 0.46. The company's 50 day moving average price is $85.33 and its 200-day moving average price is $72.63. Wheaton Precious Metals Corp. has a 52 week low of $51.96 and a 52 week high of $95.23.

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 net margin of 42.45% and a return on equity of 10.32%. The business had revenue of $470.41 million during the quarter, compared to the consensus estimate of $446.33 million. During the same quarter last year, the firm earned $0.36 earnings per share. The firm's quarterly revenue was up 58.4% compared to the same quarter last year. On average, research analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were paid a dividend of $0.165 per share. The ex-dividend date was Wednesday, May 28th. This represents a $0.66 dividend on an annualized basis and a yield of 0.74%. Wheaton Precious Metals's payout ratio is 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.