Ewing Morris & Co. Investment Partners Ltd. Makes New $344,000 Investment in Wheaton Precious Metals Corp. (NYSE:WPM)

Ewing Morris & Co. Investment Partners Ltd. bought a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the fourth quarter, Holdings Channel.com reports. The fund bought 6,111 shares of the company’s stock, valued at approximately $344,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WPM. Promus Capital LLC bought a new stake in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $32,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Wheaton Precious Metals in the fourth quarter worth about $38,000. Laurel Wealth Advisors LLC acquired a new stake in Wheaton Precious Metals during the 4th quarter worth approximately $39,000. Quintet Private Bank Europe S.A. bought a new stake in Wheaton Precious Metals in the 4th quarter valued at $39,000. Finally, Headlands Technologies LLC boosted its position in shares of Wheaton Precious Metals by 494.9% during the fourth quarter. Headlands Technologies LLC now owns 696 shares of the company’s stock worth $39,000 after buying an additional 579 shares during the period. 70.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WPM has been the subject of several analyst reports. Stifel Canada upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Royal Bank of Canada lifted their target price on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a “sector perform” rating in a report on Friday, April 4th. Raymond James upped their price objective on Wheaton Precious Metals from $88.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, April 15th. Scotiabank lifted their price target on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the company a “sector outperform” rating in a research report on Monday, April 14th. Finally, BMO Capital Markets assumed coverage on shares of Wheaton Precious Metals in a research report on Wednesday, April 16th. They set an “outperform” rating and a $129.00 price objective for the company. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Wheaton Precious Metals currently has an average rating of “Buy” and a consensus price target of $83.40.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock opened at $82.60 on Friday. Wheaton Precious Metals Corp. has a 52-week low of $51.96 and a 52-week high of $87.42. The stock has a market capitalization of $37.49 billion, a price-to-earnings ratio of 61.64, a P/E/G ratio of 1.91 and a beta of 0.49. The company’s 50 day moving average price is $77.58 and its 200-day moving average price is $67.61.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.08. 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 posted $0.36 earnings per share. The business’s revenue for the quarter was up 58.4% compared to the same quarter last year. As a group, equities research analysts forecast that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.80%. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, April 1st. Wheaton Precious Metals’s dividend payout ratio is presently 56.90%.

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.