Summit Financial LLC Increases Stake in Wheaton Precious Metals Corp. (NYSE:WPM)

Summit Financial LLC boosted its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 11.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 167,471 shares of the company's stock after acquiring an additional 17,533 shares during the period. Wheaton Precious Metals accounts for 0.5% of Summit Financial LLC's portfolio, making the stock its 24th largest holding. Summit Financial LLC's holdings in Wheaton Precious Metals were worth $8,263,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of WPM. CVA Family Office LLC bought a new stake in Wheaton Precious Metals during the fourth quarter worth approximately $26,000. McGlone Suttner Wealth Management Inc. purchased a new stake in Wheaton Precious Metals during the 4th quarter valued at $31,000. Fifth Third Bancorp lifted its position in Wheaton Precious Metals by 230.7% in the fourth quarter. Fifth Third Bancorp now owns 863 shares of the company's stock worth $43,000 after buying an additional 602 shares during the last quarter. Mechanics Financial Corp boosted its stake in Wheaton Precious Metals by 200.0% during the third quarter. Mechanics Financial Corp now owns 900 shares of the company's stock worth $36,000 after buying an additional 600 shares during the period. Finally, Hexagon Capital Partners LLC raised its stake in shares of Wheaton Precious Metals by 30.8% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,159 shares of the company's stock valued at $57,000 after acquiring an additional 273 shares during the period. 70.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WPM has been the subject of a number of recent analyst reports. Berenberg Bank lifted their price target on shares of Wheaton Precious Metals from $52.00 to $54.00 and gave the stock a "buy" rating in a research note on Wednesday, March 27th. Raymond James dropped their price objective on Wheaton Precious Metals from $60.00 to $58.00 and set a "market perform" rating for the company in a report on Thursday, February 22nd. Scotiabank cut their price objective on Wheaton Precious Metals from $60.00 to $59.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, February 28th. BMO Capital Markets decreased their target price on Wheaton Precious Metals from $61.00 to $59.00 and set an "outperform" rating for the company in a research report on Wednesday, February 21st. Finally, National Bank Financial downgraded shares of Wheaton Precious Metals from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $59.32.

Wheaton Precious Metals Trading Up 1.6 %

Shares of NYSE WPM traded up $0.82 during midday trading on Wednesday, reaching $52.96. The company had a trading volume of 1,674,626 shares, compared to its average volume of 2,136,012. Wheaton Precious Metals Corp. has a 1 year low of $38.37 and a 1 year high of $54.45. The business's 50-day simple moving average is $47.07 and its 200 day simple moving average is $46.66. The stock has a market cap of $24.01 billion, a P/E ratio of 44.26, a P/E/G ratio of 7.26 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its earnings results on Thursday, March 14th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.32 by $0.04. Wheaton Precious Metals had a return on equity of 7.76% and a net margin of 52.92%. The firm had revenue of $313.47 million for the quarter, compared to analyst estimates of $284.29 million. Analysts predict that Wheaton Precious Metals Corp. will post 1.25 earnings per share for the current year.

Wheaton Precious Metals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Wednesday, April 3rd were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Tuesday, April 2nd. This is a boost from Wheaton Precious Metals's previous quarterly dividend of $0.15. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.17%. Wheaton Precious Metals's dividend payout ratio (DPR) is 52.10%.

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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