Wealth Alliance Advisory Group LLC Acquires New Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Wealth Alliance Advisory Group LLC purchased a new position in 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 purchased 3,025 shares of the company's stock, valued at approximately $235,000.

A number of other large investors have also bought and sold shares of WPM. Van ECK Associates Corp boosted its position in Wheaton Precious Metals by 6.4% during the 4th quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company's stock valued at $1,154,843,000 after buying an additional 1,231,999 shares during the period. Vanguard Group Inc. boosted its position in Wheaton Precious Metals by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 17,672,518 shares of the company's stock valued at $994,733,000 after buying an additional 281,123 shares during the period. FMR LLC boosted its position in Wheaton Precious Metals by 5.9% during 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 period. Royal Bank of Canada boosted its position in 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 valued at $530,057,000 after buying an additional 447,702 shares during the period. Finally, Norges Bank purchased a new stake in Wheaton Precious Metals during the 4th quarter valued at $472,648,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on WPM. Scotiabank increased their price target on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the company a "sector outperform" rating in a research report on Monday, April 14th. National Bankshares reissued an "outperform" rating on shares of Wheaton Precious Metals in a research report on Wednesday, April 23rd. UBS Group increased their price target 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. Royal Bank of Canada upped their price objective on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a report on Wednesday. Finally, CIBC upped their price objective on shares of Wheaton Precious Metals from $95.00 to $105.00 and gave the stock an "outperformer" rating in a report on Friday, May 9th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $86.90.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock traded down $2.88 during trading on Friday, hitting $88.71. The company's stock had a trading volume of 2,541,288 shares, compared to its average volume of 1,682,555. The company has a fifty day simple moving average of $82.23 and a two-hundred day simple moving average of $70.69. The company has a market capitalization of $40.26 billion, a PE ratio of 66.20, a P/E/G ratio of 1.91 and a beta of 0.46. 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 issued its quarterly earnings results 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. The company had revenue of $470.41 million during the quarter, compared to analyst estimates of $446.33 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. Wheaton Precious Metals's quarterly revenue was up 58.4% compared to the same quarter last year. During the same period last year, the business earned $0.36 EPS. As a group, analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be paid a $0.165 dividend. The ex-dividend date is Wednesday, May 28th. This represents a $0.66 annualized dividend and a dividend yield of 0.74%. Wheaton Precious Metals's payout ratio is 48.53%.

Wheaton Precious Metals 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.