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

Synergy Asset Management LLC purchased a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,050 shares of the company's stock, valued at approximately $237,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PFG Investments LLC lifted its stake in shares of Wheaton Precious Metals by 0.8% in the 1st quarter. PFG Investments LLC now owns 22,515 shares of the company's stock valued at $1,748,000 after purchasing an additional 172 shares during the last quarter. Fielder Capital Group LLC lifted its stake in shares of Wheaton Precious Metals by 0.7% in the 4th quarter. Fielder Capital Group LLC now owns 24,701 shares of the company's stock valued at $1,389,000 after purchasing an additional 176 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Wheaton Precious Metals by 1.5% in the 4th quarter. Signaturefd LLC now owns 11,877 shares of the company's stock valued at $668,000 after purchasing an additional 178 shares during the last quarter. NBT Bank N A NY lifted its stake in shares of Wheaton Precious Metals by 129.3% in the 1st quarter. NBT Bank N A NY now owns 415 shares of the company's stock valued at $32,000 after purchasing an additional 234 shares during the last quarter. Finally, Veracity Capital LLC lifted its stake in shares of Wheaton Precious Metals by 3.4% in the 1st quarter. Veracity Capital LLC now owns 7,326 shares of the company's stock valued at $569,000 after purchasing an additional 244 shares during the last quarter. 70.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WPM has been the subject of several analyst reports. Raymond James Financial raised 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. National Bankshares reissued an "outperform" rating on shares of Wheaton Precious Metals in a research note on Wednesday, April 23rd. BMO Capital Markets initiated coverage on Wheaton Precious Metals in a research note on Wednesday, April 16th. They set an "outperform" rating and a $129.00 price target for the company. Royal Bank Of Canada raised their price target on 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. Finally, Scotiabank raised their price target on Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a "sector outperform" rating in a research note on Monday, April 14th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Wheaton Precious Metals has an average rating of "Buy" and a consensus price target of $86.90.

Wheaton Precious Metals Stock Down 2.0%

Shares of NYSE WPM opened at $89.29 on Monday. The business has a fifty day simple moving average of $85.33 and a two-hundred day simple moving average of $72.70. The firm has a market cap of $40.53 billion, a PE ratio of 65.66, a price-to-earnings-growth ratio of 2.76 and a beta of 0.46. Wheaton Precious Metals Corp. has a twelve month low of $51.96 and a twelve month high of $95.23.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.05. The business had revenue of $470.41 million during the quarter, compared to analyst estimates of $446.33 million. Wheaton Precious Metals had a return on equity of 10.32% and a net margin of 42.45%. Wheaton Precious Metals's revenue was up 58.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 EPS. On average, research analysts expect 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 issued a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.74%. 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.

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