Wheaton Precious Metals Corp. $WPM Shares Purchased by Sprott Inc.

Key Points

• Sprott Inc. has increased its stake in Wheaton Precious Metals Corp. by 2.2%, now owning over 1 million shares valued at approximately $78.86 million.
• Wheaton Precious Metals reported earnings of $0.63 per share, exceeding estimates and showcasing a 68.2% year-over-year revenue increase of $503.22 million.
• The company announced a quarterly dividend of $0.165 per share, representing a 0.7% yield and a dividend payout ratio of 38.15%.

Sprott Inc. raised its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 2.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,014,954 shares of the company's stock after acquiring an additional 21,507 shares during the quarter. Wheaton Precious Metals makes up approximately 4.3% of Sprott Inc.'s holdings, making the stock its 3rd biggest position. Sprott Inc. owned approximately 0.22% of Wheaton Precious Metals worth $78,859,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Cerity Partners LLC grew its position in Wheaton Precious Metals by 5.5% in the first quarter. Cerity Partners LLC now owns 20,271 shares of the company's stock valued at $1,574,000 after purchasing an additional 1,058 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Wheaton Precious Metals by 37.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,109 shares of the company's stock valued at $630,000 after acquiring an additional 2,208 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Wheaton Precious Metals by 5.8% in the first quarter. Sequoia Financial Advisors LLC now owns 5,392 shares of the company's stock valued at $419,000 after acquiring an additional 297 shares during the last quarter. Dynamic Advisor Solutions LLC bought a new stake in Wheaton Precious Metals during the first quarter worth about $531,000. Finally, Principal Financial Group Inc. boosted its position in Wheaton Precious Metals by 34.6% during the first quarter. Principal Financial Group Inc. now owns 25,244 shares of the company's stock valued at $1,959,000 after purchasing an additional 6,486 shares during the last quarter. Institutional investors own 70.34% of the company's stock.

Wall Street Analyst Weigh In

WPM has been the subject of a number of analyst reports. National Bankshares restated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. UBS Group set a $106.00 target price on shares of Wheaton Precious Metals and gave the company a "neutral" rating in a research note on Monday, August 11th. Berenberg Bank upped their price target on shares of Wheaton Precious Metals from $87.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. BMO Capital Markets reissued an "outperform" rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. Finally, CIBC reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.33.

Wheaton Precious Metals Stock Performance

Shares of WPM stock opened at $94.27 on Friday. Wheaton Precious Metals Corp. has a 52 week low of $55.47 and a 52 week high of $103.81. The company has a market capitalization of $42.79 billion, a price-to-earnings ratio of 54.49, a PEG ratio of 2.59 and a beta of 0.39. The company has a 50-day simple moving average of $92.26 and a 200 day simple moving average of $82.72.

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 the consensus estimate of $0.58 by $0.05. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The firm had revenue of $503.22 million during the quarter, compared to the consensus estimate of $424.23 million. During the same period last year, the business posted $0.33 earnings per share. The business's revenue for the quarter was up 68.2% compared to the same quarter last year. Sell-side analysts forecast that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be given a dividend of $0.165 per share. The ex-dividend date is Thursday, August 21st. This represents a $0.66 annualized dividend and a yield of 0.7%. Wheaton Precious Metals's dividend payout ratio (DPR) is presently 38.15%.

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.

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