Sowell Financial Services LLC Takes Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Sowell Financial Services LLC acquired a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 9,911 shares of the company’s stock, valued at approximately $769,000.

Other 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 fourth quarter valued at approximately $32,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Wheaton Precious Metals in the fourth quarter valued at approximately $38,000. Quintet Private Bank Europe S.A. bought a new position in Wheaton Precious Metals in the fourth quarter valued at approximately $39,000. Headlands Technologies LLC increased its stake in Wheaton Precious Metals by 494.9% in the fourth quarter. Headlands Technologies LLC now owns 696 shares of the company’s stock valued at $39,000 after acquiring an additional 579 shares during the last quarter. Finally, Flagship Wealth Advisors LLC bought a new position in Wheaton Precious Metals in the fourth quarter valued at approximately $41,000. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Stock Down 0.2%

Shares of Wheaton Precious Metals stock opened at $91.08 on Thursday. Wheaton Precious Metals Corp. has a twelve month low of $51.96 and a twelve month high of $95.23. The stock has a market cap of $41.34 billion, a price-to-earnings ratio of 66.97, a P/E/G ratio of 2.85 and a beta of 0.46. The company’s fifty day moving average is $84.93 and its 200 day moving average is $72.18.

Wheaton Precious Metals (NYSE:WPM) last issued 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 42.45% and a return on equity of 10.32%. The company had revenue of $470.41 million for the quarter, compared to analysts’ expectations of $446.33 million. During the same quarter in the previous year, the firm posted $0.36 earnings per share. Wheaton Precious Metals’s revenue for the quarter was up 58.4% on a year-over-year basis. As a group, equities analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were paid a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.66 annualized dividend and a dividend yield of 0.72%. Wheaton Precious Metals’s dividend payout ratio is 48.53%.

Wall Street Analyst Weigh In

WPM has been the topic of a number of recent analyst reports. UBS Group lifted their price objective 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 reissued an “outperform” rating on shares of Wheaton Precious Metals in a research note on Wednesday, April 23rd. BMO Capital Markets started coverage on shares of Wheaton Precious Metals in a research note on Wednesday, April 16th. They set an “outperform” rating and a $129.00 target price on the stock. 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. Finally, Scotiabank boosted their target price on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a “sector outperform” rating in a research note on Monday, April 14th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average 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.