Summit Financial LLC Raises Stock Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Summit Financial LLC lifted its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 8.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 371,574 shares of the company’s stock after purchasing an additional 27,423 shares during the quarter. Wheaton Precious Metals accounts for approximately 0.7% of Summit Financial LLC’s investment portfolio, making the stock its 20th largest position. Summit Financial LLC owned 0.08% of Wheaton Precious Metals worth $20,897,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of WPM. Norges Bank purchased a new stake in Wheaton Precious Metals during the fourth quarter valued at approximately $472,648,000. Arrowstreet Capital Limited Partnership purchased a new stake in Wheaton Precious Metals during the 4th quarter valued at $72,657,000. Van ECK Associates Corp lifted its position in Wheaton Precious Metals by 6.4% in the fourth quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company’s stock worth $1,154,843,000 after buying an additional 1,231,999 shares during the last quarter. TD Asset Management Inc. boosted its stake in Wheaton Precious Metals by 9.6% during the fourth quarter. TD Asset Management Inc. now owns 7,156,818 shares of the company’s stock worth $402,627,000 after buying an additional 629,743 shares during the period. Finally, National Bank of Canada FI increased its position in Wheaton Precious Metals by 21.3% during the third quarter. National Bank of Canada FI now owns 2,923,402 shares of the company’s stock valued at $178,551,000 after acquiring an additional 513,890 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Trading Up 0.3 %

Shares of WPM stock opened at $76.86 on Monday. Wheaton Precious Metals Corp. has a twelve month low of $47.02 and a twelve month high of $80.00. The stock has a fifty day simple moving average of $68.44 and a two-hundred day simple moving average of $63.81. The stock has a market capitalization of $34.87 billion, a price-to-earnings ratio of 57.36, a P/E/G ratio of 1.91 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The business had revenue of $380.52 million during the quarter, compared to analysts’ expectations of $395.74 million. During the same period last year, the company earned $0.36 earnings per share. The firm’s revenue was up 21.4% compared to the same quarter last year. Research analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be paid a $0.165 dividend. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.66 dividend on an annualized basis and a yield of 0.86%. Wheaton Precious Metals’s payout ratio is 56.90%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on WPM shares. Scotiabank lifted their price target on shares of Wheaton Precious Metals from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 17th. Stifel Canada raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $72.44.

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.