Wellington Shields & Co. LLC Takes Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Wellington Shields & Co. LLC bought a new position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,300 shares of the company's stock, valued at approximately $256,000.

Several other large investors also recently added to or reduced their stakes in WPM. Arkadios Wealth Advisors lifted its stake in shares of Wheaton Precious Metals by 1.1% in the first quarter. Arkadios Wealth Advisors now owns 21,863 shares of the company's stock worth $1,697,000 after buying an additional 248 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Wheaton Precious Metals in the first quarter worth $49,000. Foundations Investment Advisors LLC acquired a new stake in shares of Wheaton Precious Metals in the first quarter worth $245,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Wheaton Precious Metals by 31.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 259,449 shares of the company's stock worth $20,130,000 after buying an additional 62,540 shares during the last quarter. Finally, HB Wealth Management LLC lifted its stake in shares of Wheaton Precious Metals by 4.9% in the first quarter. HB Wealth Management LLC now owns 4,912 shares of the company's stock worth $381,000 after buying an additional 229 shares during the last quarter. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Price Performance

Shares of WPM traded up $0.60 during trading hours on Friday, hitting $92.11. The stock had a trading volume of 1,622,166 shares, compared to its average volume of 1,833,638. The company's fifty day moving average is $90.20 and its two-hundred day moving average is $78.99. Wheaton Precious Metals Corp. has a 52 week low of $53.05 and a 52 week high of $96.83. The stock has a market capitalization of $41.81 billion, a price-to-earnings ratio of 67.73, a P/E/G ratio of 2.54 and a beta of 0.46.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.55 earnings per share 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 for the quarter, compared to analyst estimates of $446.33 million. During the same quarter in the prior year, the firm earned $0.36 EPS. The firm's quarterly revenue was up 58.4% compared to the same quarter last year. Equities analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.7%. The ex-dividend date was Wednesday, May 28th. Wheaton Precious Metals's dividend payout ratio (DPR) is presently 48.53%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on WPM. Raymond James Financial boosted their price objective on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 15th. Scotiabank upped their target price on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the company a "sector outperform" rating in a research note on Monday, April 14th. BMO Capital Markets began coverage on shares of Wheaton Precious Metals in a research note on Wednesday, April 16th. They set an "outperform" rating and a $129.00 target price for the company. CIBC reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, July 15th. Finally, Royal Bank Of Canada upped their target price on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $93.00.

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.