Plato Investment Management Ltd Acquires Shares of 15,558 Wheaton Precious Metals Corp. (NYSE:WPM)

Plato Investment Management Ltd acquired a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,558 shares of the company’s stock, valued at approximately $950,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Empower Advisory Group LLC purchased a new stake in Wheaton Precious Metals during the third quarter valued at approximately $217,000. Apollon Wealth Management LLC raised its position in Wheaton Precious Metals by 47.7% during the third quarter. Apollon Wealth Management LLC now owns 5,899 shares of the company’s stock valued at $360,000 after purchasing an additional 1,904 shares during the period. Tyler Stone Wealth Management raised its position in Wheaton Precious Metals by 100.3% during the third quarter. Tyler Stone Wealth Management now owns 4,253 shares of the company’s stock valued at $260,000 after purchasing an additional 2,130 shares during the period. Oxbow Advisors LLC raised its position in Wheaton Precious Metals by 6.2% during the third quarter. Oxbow Advisors LLC now owns 10,726 shares of the company’s stock valued at $655,000 after purchasing an additional 622 shares during the period. Finally, CWA Asset Management Group LLC purchased a new stake in Wheaton Precious Metals during the third quarter valued at approximately $8,343,000. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Up 0.5 %

Shares of NYSE:WPM opened at $59.33 on Friday. Wheaton Precious Metals Corp. has a 52-week low of $38.57 and a 52-week high of $68.64. The stock has a market cap of $26.91 billion, a P/E ratio of 44.28, a price-to-earnings-growth ratio of 2.15 and a beta of 0.77. The business’s 50 day moving average is $62.75 and its 200 day moving average is $58.76.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The company had revenue of $308.25 million for the quarter, compared to analysts’ expectations of $324.57 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. On average, sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.155 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.62 annualized dividend and a yield of 1.05%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 46.27%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WPM. TD Securities increased their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Stifel Canada downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Jefferies Financial Group increased their price target on Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, October 4th. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Finally, Raymond James increased their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.88.

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.