Icon Wealth Advisors LLC Invests $116,000 in Wheaton Precious Metals Corp. (NYSE:WPM)

Icon Wealth Advisors LLC purchased a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,892 shares of the company’s stock, valued at approximately $116,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Canoe Financial LP bought a new stake in shares of Wheaton Precious Metals during the 3rd quarter valued at $113,017,000. AMF Tjanstepension AB increased its holdings in Wheaton Precious Metals by 593.5% in the 2nd quarter. AMF Tjanstepension AB now owns 1,608,134 shares of the company’s stock valued at $84,388,000 after acquiring an additional 1,376,231 shares during the last quarter. Barings LLC bought a new stake in Wheaton Precious Metals in the 2nd quarter valued at $65,405,000. TD Asset Management Inc increased its holdings in Wheaton Precious Metals by 22.5% in the 2nd quarter. TD Asset Management Inc now owns 5,950,317 shares of the company’s stock valued at $311,920,000 after acquiring an additional 1,092,480 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Wheaton Precious Metals by 16.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,309,175 shares of the company’s stock valued at $344,483,000 after acquiring an additional 1,010,307 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Up 0.5 %

Shares of NYSE WPM opened at $63.81 on Monday. Wheaton Precious Metals Corp. has a 52 week low of $38.57 and a 52 week high of $68.64. The stock has a market capitalization of $28.95 billion, a price-to-earnings ratio of 47.62, a price-to-earnings-growth ratio of 2.32 and a beta of 0.77. The firm has a 50-day simple moving average of $63.01 and a 200-day simple moving average of $59.20.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. The firm had revenue of $308.25 million during the quarter, compared to analysts’ expectations of $324.57 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. During the same period last year, the business earned $0.27 earnings per share. As a group, equities research analysts expect that Wheaton Precious Metals Corp. will post 1.44 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 21st will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Thursday, November 21st. Wheaton Precious Metals’s payout ratio is 46.27%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WPM. Jefferies Financial Group lifted their price target on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a report on Friday, October 4th. UBS Group started coverage on shares of Wheaton Precious Metals in a research note on Monday, November 18th. They issued a “buy” rating and a $78.00 price objective for the company. Stifel Canada cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Scotiabank lifted their price target on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Finally, Raymond James boosted their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.67.

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.