Mission Wealth Management LP Buys 1,003 Shares of Wheaton Precious Metals Corp. $WPM

by · The Cerbat Gem

Mission Wealth Management LP raised its stake in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 34.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,929 shares of the company’s stock after purchasing an additional 1,003 shares during the quarter. Mission Wealth Management LP’s holdings in Wheaton Precious Metals were worth $353,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of WPM. Bulwark Capital Corp bought a new position in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $27,000. Wealth Preservation Advisors LLC bought a new position in shares of Wheaton Precious Metals during the 1st quarter worth approximately $38,000. Banque Cantonale Vaudoise bought a new position in shares of Wheaton Precious Metals during the 1st quarter worth approximately $49,000. City State Bank boosted its stake in shares of Wheaton Precious Metals by 40.0% during the 2nd quarter. City State Bank now owns 560 shares of the company’s stock worth $50,000 after acquiring an additional 160 shares during the period. Finally, Penserra Capital Management LLC boosted its stake in shares of 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 acquiring an additional 707 shares during the period. 70.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WPM. Bank of America lifted their target price on Wheaton Precious Metals from $127.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Wall Street Zen upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Monday, September 8th. UBS Group boosted their price objective on Wheaton Precious Metals from $118.00 to $122.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Weiss Ratings restated a “buy (b-)” rating on shares of Wheaton Precious Metals in a report on Wednesday, October 8th. Finally, Berenberg Bank lifted their price target on Wheaton Precious Metals from $102.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $119.00.

Read Our Latest Stock Analysis on Wheaton Precious Metals

Wheaton Precious Metals Trading Down 2.8%

NYSE:WPM opened at $94.43 on Wednesday. The stock has a market cap of $42.87 billion, a P/E ratio of 54.59, a PEG ratio of 1.67 and a beta of 0.41. The stock has a 50 day simple moving average of $104.07 and a 200 day simple moving average of $94.41. Wheaton Precious Metals Corp. has a 1-year low of $55.47 and a 1-year high of $114.36.

Wheaton Precious Metals (NYSE:WPM – Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. The business had revenue of $503.22 million during the quarter, compared to analysts’ expectations of $424.23 million. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The firm’s revenue for the quarter was up 68.2% compared to the same quarter last year. During the same period last year, the firm posted $0.33 EPS. As a group, sell-side analysts forecast that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were issued a $0.165 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.66 annualized dividend and a yield of 0.7%. Wheaton Precious Metals’s payout ratio is currently 38.15%.

About Wheaton Precious Metals

(Free Report)

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.

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