Concurrent Investment Advisors LLC Acquires 528 Shares of Wheaton Precious Metals Corp. $WPM

Concurrent Investment Advisors LLC boosted its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 14.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,123 shares of the company’s stock after purchasing an additional 528 shares during the period. Concurrent Investment Advisors LLC’s holdings in Wheaton Precious Metals were worth $370,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bulwark Capital Corp acquired a new stake in shares of Wheaton Precious Metals in the second quarter valued at about $27,000. Wealth Preservation Advisors LLC bought a new stake in Wheaton Precious Metals in the first quarter valued at approximately $38,000. Banque Cantonale Vaudoise acquired a new stake in Wheaton Precious Metals during the 1st quarter valued at approximately $49,000. Penserra Capital Management LLC raised its holdings in Wheaton Precious Metals by 1,812.8% during the 1st quarter. Penserra Capital Management LLC now owns 746 shares of the company’s stock worth $57,000 after purchasing an additional 707 shares during the last quarter. Finally, Whittier Trust Co. raised its holdings in Wheaton Precious Metals by 77.4% during the 1st quarter. Whittier Trust Co. now owns 763 shares of the company’s stock worth $59,000 after purchasing an additional 333 shares during the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on WPM shares. Bank of America upped their price objective on shares of Wheaton Precious Metals from $127.00 to $132.00 and gave the company a “buy” rating in a research note on Thursday. CIBC upped their price target on shares of Wheaton Precious Metals from $135.00 to $160.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. BMO Capital Markets reiterated an “outperform” rating on shares of Wheaton Precious Metals in a report on Friday, August 8th. Berenberg Bank lifted their price objective on Wheaton Precious Metals from $102.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Finally, National Bankshares restated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $116.89.

Wheaton Precious Metals Price Performance

Shares of WPM opened at $104.68 on Friday. Wheaton Precious Metals Corp. has a one year low of $55.47 and a one year high of $114.36. The company has a market cap of $47.52 billion, a PE ratio of 60.51, a P/E/G ratio of 2.79 and a beta of 0.41. The stock has a 50-day moving average of $103.49 and a 200-day moving average of $92.56.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The business had revenue of $503.22 million for the quarter, compared to analyst estimates of $424.23 million. During the same quarter in the prior year, the company earned $0.33 earnings per share. The company’s quarterly revenue was up 68.2% on a year-over-year basis. Analysts expect that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were issued a dividend of $0.165 per share. The ex-dividend date was Thursday, August 21st. This represents a $0.66 annualized dividend and a yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio is presently 38.15%.

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.