Princeton Global Asset Management LLC Acquires New Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Princeton Global Asset Management LLC acquired a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 665 shares of the company’s stock, valued at approximately $52,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Promus Capital LLC bought a new position in Wheaton Precious Metals in the 4th quarter valued at approximately $32,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Wheaton Precious Metals in the 4th quarter valued at approximately $38,000. Quintet Private Bank Europe S.A. bought a new position in Wheaton Precious Metals in the 4th quarter valued at approximately $39,000. Headlands Technologies LLC lifted its stake in Wheaton Precious Metals by 494.9% in the 4th quarter. Headlands Technologies LLC now owns 696 shares of the company’s stock valued at $39,000 after purchasing an additional 579 shares during the last quarter. Finally, Flagship Wealth Advisors LLC bought a new position in Wheaton Precious Metals in the 4th quarter valued at approximately $41,000. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Down 3.1%

WPM opened at $88.71 on Friday. Wheaton Precious Metals Corp. has a twelve month low of $51.96 and a twelve month high of $95.23. The company has a fifty day moving average of $82.23 and a 200-day moving average of $70.69. The stock has a market cap of $40.26 billion, a PE ratio of 66.20, a price-to-earnings-growth ratio of 1.91 and a beta of 0.46.

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

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend is Wednesday, May 28th. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 48.53%.

Wall Street Analyst Weigh In

Several brokerages recently commented on WPM. BMO Capital Markets started coverage on shares of Wheaton Precious Metals in a research note on Wednesday, April 16th. They issued an “outperform” rating and a $129.00 price objective for the company. CIBC raised their price target on shares of Wheaton Precious Metals from $95.00 to $105.00 and gave the company an “outperformer” rating in a research note on Friday, May 9th. Royal Bank of Canada raised their price target on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the company a “sector perform” rating in a research note on Wednesday. UBS Group raised 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. Finally, Wall Street Zen raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Wheaton Precious Metals has an average rating of “Buy” and a consensus price target of $86.90.

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.