Synergy Asset Management LLC Takes Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Synergy Asset Management LLC acquired a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,050 shares of the company's stock, valued at approximately $237,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Wheaton Precious Metals by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 17,672,518 shares of the company's stock valued at $994,733,000 after purchasing an additional 281,123 shares in the last quarter. FMR LLC increased its stake in Wheaton Precious Metals by 5.9% in the 4th quarter. FMR LLC now owns 15,529,219 shares of the company's stock valued at $873,995,000 after buying an additional 863,306 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Wheaton Precious Metals by 5.0% during the 4th quarter. Royal Bank of Canada now owns 9,424,930 shares of the company's stock worth $530,057,000 after buying an additional 447,702 shares in the last quarter. Norges Bank purchased a new position in shares of Wheaton Precious Metals in the 4th quarter worth approximately $472,648,000. Finally, TD Asset Management Inc. boosted its stake in shares of Wheaton Precious Metals by 9.6% in the 4th quarter. TD Asset Management Inc. now owns 7,156,818 shares of the company's stock worth $402,627,000 after buying an additional 629,743 shares during the last quarter. Institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Price Performance

Shares of WPM traded up $0.89 during trading hours on Thursday, hitting $90.19. The company's stock had a trading volume of 1,637,677 shares, compared to its average volume of 1,697,992. The business has a 50 day simple moving average of $85.80 and a two-hundred day simple moving average of $73.32. Wheaton Precious Metals Corp. has a 52-week low of $51.96 and a 52-week high of $95.23. The company has a market cap of $40.94 billion, a price-to-earnings ratio of 66.32, a PEG ratio of 2.73 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 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 company had revenue of $470.41 million during the quarter, compared to the consensus estimate of $446.33 million. During the same period last year, the firm earned $0.36 EPS. Wheaton Precious Metals's revenue for the quarter was up 58.4% on a year-over-year basis. Research analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on WPM shares. National Bankshares reiterated an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday. CIBC lifted their target price on Wheaton Precious Metals from $95.00 to $105.00 and gave the stock an "outperformer" rating in a research note on Friday, May 9th. Raymond James Financial boosted their price target on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an "outperform" rating in a report on Tuesday, April 15th. BMO Capital Markets initiated coverage on shares of Wheaton Precious Metals in a report on Wednesday, April 16th. They set an "outperform" rating and a $129.00 price objective for the company. Finally, 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. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $86.90.

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.