Spire Wealth Management Grows Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Spire Wealth Management boosted its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 56.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,877 shares of the company's stock after purchasing an additional 3,200 shares during the quarter. Spire Wealth Management's holdings in Wheaton Precious Metals were worth $689,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in Wheaton Precious Metals during the 4th quarter worth about $20,790,000. Sei Investments Co. boosted its position in shares of Wheaton Precious Metals by 25.7% during the fourth quarter. Sei Investments Co. now owns 40,769 shares of the company's stock worth $2,293,000 after buying an additional 8,331 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Wheaton Precious Metals by 9.1% during the fourth quarter. Bank of New York Mellon Corp now owns 399,035 shares of the company's stock worth $22,442,000 after buying an additional 33,256 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new position in shares of Wheaton Precious Metals during the first quarter worth about $531,000. Finally, Gotham Asset Management LLC raised its position in Wheaton Precious Metals by 83.8% in the 4th quarter. Gotham Asset Management LLC now owns 6,324 shares of the company's stock valued at $356,000 after buying an additional 2,884 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on WPM shares. Royal Bank Of Canada raised their price target on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. UBS Group raised their target price on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the company a "buy" rating in a research report on Friday, April 11th. CIBC upped their target price on Wheaton Precious Metals from $95.00 to $105.00 and gave the stock an "outperformer" rating in a report on Friday, May 9th. Raymond James Financial increased their price objective on Wheaton Precious Metals from $88.00 to $90.00 and gave the company an "outperform" rating in a report on Tuesday, April 15th. Finally, Wall Street Zen raised shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $92.75.

Wheaton Precious Metals Trading Up 0.7%

Shares of NYSE:WPM traded up $0.59 during midday trading on Wednesday, reaching $89.97. The company had a trading volume of 674,957 shares, compared to its average volume of 1,708,646. The stock has a market cap of $40.84 billion, a P/E ratio of 66.12, a P/E/G ratio of 2.74 and a beta of 0.46. Wheaton Precious Metals Corp. has a 52-week low of $52.12 and a 52-week high of $95.23. The company's 50 day moving average price is $86.08 and its 200 day moving average price is $73.96.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.55 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 the consensus estimate of $446.33 million. During the same quarter last year, the company earned $0.36 EPS. The firm's revenue was up 58.4% compared to the same quarter last year. Research analysts forecast that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Wednesday, May 28th. Wheaton Precious Metals's dividend payout ratio is presently 48.53%.

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.