GeoSphere Capital Management LLC Makes New $1.69 Million Investment in Wheaton Precious Metals Corp. (NYSE:WPM)

GeoSphere Capital Management LLC bought a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 30,000 shares of the company’s stock, valued at approximately $1,687,000. Wheaton Precious Metals accounts for approximately 0.8% of GeoSphere Capital Management LLC’s investment portfolio, making the stock its 26th biggest position.

A number of other hedge funds have also made changes to their positions in WPM. Promus Capital LLC acquired a new position in Wheaton Precious Metals in the fourth quarter valued at about $32,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Wheaton Precious Metals in the 4th quarter worth approximately $38,000. Headlands Technologies LLC grew its position in Wheaton Precious Metals by 494.9% during the 4th quarter. Headlands Technologies LLC now owns 696 shares of the company’s stock worth $39,000 after acquiring an additional 579 shares during the last quarter. Laurel Wealth Advisors LLC acquired a new stake in Wheaton Precious Metals during the 4th quarter valued at $39,000. Finally, Quintet Private Bank Europe S.A. acquired a new stake in Wheaton Precious Metals during the 4th quarter valued at $39,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on WPM shares. Raymond James increased their target price on Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, April 15th. Royal Bank of Canada boosted 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 research note on Friday, April 4th. UBS Group increased their price target on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the company a “buy” rating in a research note on Friday, April 11th. National Bankshares restated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, April 23rd. Finally, Scotiabank increased their price objective on 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. One analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Wheaton Precious Metals currently has a consensus rating of “Buy” and an average target price of $85.90.

Wheaton Precious Metals Trading Up 4.0 %

NYSE:WPM opened at $85.76 on Friday. Wheaton Precious Metals Corp. has a 1-year low of $51.96 and a 1-year high of $87.42. The firm has a market capitalization of $38.92 billion, a price-to-earnings ratio of 64.00, a PEG ratio of 1.91 and a beta of 0.49. The business’s 50-day moving average price is $77.91 and its two-hundred day moving average price is $67.73.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. The business had revenue of $470.41 million for the quarter, compared to the consensus estimate of $446.33 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. Wheaton Precious Metals’s revenue for the quarter was up 58.4% on a year-over-year basis. During the same period last year, the company posted $0.36 EPS. Sell-side analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Wednesday, May 28th. Wheaton Precious Metals’s dividend payout ratio (DPR) is 56.90%.

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.