Corient Private Wealth LLC Purchases 40,555 Shares of Wheaton Precious Metals Corp. $WPM

Corient Private Wealth LLC boosted its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 252.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,640 shares of the company’s stock after acquiring an additional 40,555 shares during the quarter. Corient Private Wealth LLC’s holdings in Wheaton Precious Metals were worth $6,656,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Assetmark Inc. lifted its holdings in shares of Wheaton Precious Metals by 144.4% in the 4th quarter. Assetmark Inc. now owns 220 shares of the company’s stock worth $26,000 after purchasing an additional 130 shares in the last quarter. Harvest Fund Management Co. Ltd grew its stake in shares of Wheaton Precious Metals by 100.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock worth $27,000 after acquiring an additional 117 shares in the last quarter. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at about $28,000. Navalign LLC bought a new position in shares of Wheaton Precious Metals during the 4th quarter worth approximately $30,000. Finally, Eagle Bay Advisors LLC bought a new stake in Wheaton Precious Metals during the fourth quarter worth $32,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Trading Up 0.1%

WPM stock opened at $112.92 on Friday. The firm has a 50 day moving average of $129.35 and a 200-day moving average of $132.78. Wheaton Precious Metals Corp. has a 12 month low of $85.59 and a 12 month high of $165.76. The firm has a market capitalization of $51.28 billion, a P/E ratio of 28.52, a price-to-earnings-growth ratio of 2.12 and a beta of 0.51.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The business had revenue of $901.47 million for the quarter, compared to analyst estimates of $868.35 million. During the same quarter in the prior year, the firm posted $0.55 EPS. Wheaton Precious Metals’s revenue was up 91.7% on a year-over-year basis. Sell-side analysts predict that Wheaton Precious Metals Corp. will post 4.99 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were paid a $0.195 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.78 annualized dividend and a yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio is currently 19.70%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WPM. Wall Street Zen cut Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. UBS Group upgraded shares of Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 target price for the company in a research report on Friday, March 27th. Scotiabank lifted their target price on shares of Wheaton Precious Metals from $178.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. BMO Capital Markets initiated coverage on shares of Wheaton Precious Metals in a research report on Thursday, April 9th. They issued an “outperform” rating and a $240.00 price target on the stock. Finally, TD Cowen upped their price target on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $155.64.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.