Altfest L J & Co. Inc. Raises Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Key Points

• Altfest L J & Co. Inc. increased its stake in Wheaton Precious Metals by 27.6%, acquiring a total of 16,120 shares valued at approximately $1.25 million as of the last quarter.
• Research analysts have raised their price targets on Wheaton Precious Metals, with UBS Group increasing its target from $78.00 to $89.00 and BMO Capital Markets initiating coverage with a target of $129.00.
• Wheaton Precious Metals reported earnings of $0.55 per share for the last quarter, beating estimates, with revenue showing a year-over-year increase of 58.4% to $470.41 million.

Altfest L J & Co. Inc. lifted its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 27.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,120 shares of the company's stock after acquiring an additional 3,484 shares during the quarter. Altfest L J & Co. Inc.'s holdings in Wheaton Precious Metals were worth $1,251,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. NBT Bank N A NY lifted its holdings 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 worth $32,000 after acquiring an additional 234 shares during the last quarter. Headlands Technologies LLC lifted its holdings in Wheaton Precious Metals by 494.9% during the 4th quarter. Headlands Technologies LLC now owns 696 shares of the company's stock valued at $39,000 after buying an additional 579 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in Wheaton Precious Metals during the 1st quarter valued at about $49,000. Princeton Global Asset Management LLC bought a new stake in Wheaton Precious Metals during the 1st quarter valued at about $52,000. Finally, Penserra Capital Management LLC lifted its holdings in Wheaton Precious Metals by 1,812.8% during the 1st quarter. Penserra Capital Management LLC now owns 746 shares of the company's stock valued at $57,000 after buying an additional 707 shares in the last quarter. Institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Price Performance

NYSE WPM traded up $0.85 during trading on Friday, reaching $100.64. 3,100,591 shares of the company's stock traded hands, compared to its average volume of 1,757,803. The company's 50 day simple moving average is $91.54 and its two-hundred day simple moving average is $80.63. Wheaton Precious Metals Corp. has a 12-month low of $54.12 and a 12-month high of $103.81. The firm has a market cap of $45.69 billion, a price-to-earnings ratio of 58.17, a price-to-earnings-growth ratio of 2.79 and a beta of 0.39.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 12.12%. The firm had revenue of $503.22 million for the quarter, compared to the consensus estimate of $424.23 million. During the same quarter in the previous year, the firm earned $0.33 EPS. The company's quarterly revenue was up 68.2% compared to the same quarter last year. Research analysts expect that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be given a $0.165 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.7%. Wheaton Precious Metals's payout ratio is presently 48.53%.

Analyst Ratings Changes

A number of brokerages recently weighed in on WPM. National Bankshares reiterated an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, June 24th. CIBC reiterated an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, July 15th. Royal Bank Of Canada lifted their price objective on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Berenberg Bank lifted their price objective on shares of Wheaton Precious Metals from $87.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Finally, UBS Group lifted their price objective on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the company a "buy" rating in a report on Friday, April 11th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $93.00.

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.