Sargent Investment Group LLC Invests $1.12 Million in Wheaton Precious Metals Corp. (NYSE:WPM)

Sargent Investment Group LLC bought a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 21,302 shares of the company’s stock, valued at approximately $1,117,000.

A number of other hedge funds have also made changes to their positions in the business. First Eagle Investment Management LLC boosted its position in shares of Wheaton Precious Metals by 1.4% in the 1st quarter. First Eagle Investment Management LLC now owns 21,403,409 shares of the company’s stock valued at $1,008,743,000 after purchasing an additional 292,968 shares during the period. Van ECK Associates Corp boosted its holdings in Wheaton Precious Metals by 1.0% during the second quarter. Van ECK Associates Corp now owns 19,984,984 shares of the company’s stock worth $1,047,621,000 after buying an additional 197,426 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Wheaton Precious Metals by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 16,770,475 shares of the company’s stock worth $790,392,000 after acquiring an additional 272,918 shares during the period. FIL Ltd grew its holdings in Wheaton Precious Metals by 5.5% in the fourth quarter. FIL Ltd now owns 10,646,479 shares of the company’s stock valued at $525,235,000 after purchasing an additional 550,804 shares during the last quarter. Finally, Norges Bank acquired a new stake in Wheaton Precious Metals in the 4th quarter valued at about $387,481,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock opened at $62.25 on Tuesday. Wheaton Precious Metals Corp. has a 12 month low of $38.37 and a 12 month high of $63.13. The company has a fifty day moving average price of $59.31 and a two-hundred day moving average price of $54.17. The company has a market cap of $28.24 billion, a PE ratio of 47.88, a P/E/G ratio of 2.26 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $299.06 million for the quarter, compared to analysts’ expectations of $309.54 million. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 EPS. Equities research analysts anticipate that Wheaton Precious Metals Corp. will post 1.4 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio is currently 47.69%.

Analysts Set New Price Targets

WPM has been the topic of a number of analyst reports. Scotiabank increased their target price on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. TD Securities dropped their price target on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. BMO Capital Markets raised their target price on shares of Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Jefferies Financial Group raised their target price on Wheaton Precious Metals from $62.00 to $67.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, Bank of America boosted their price objective on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and an average price target of $67.50.

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.