Bay Colony Advisory Group Inc d b a Bay Colony Advisors Takes $230,000 Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,390 shares of the company’s stock, valued at approximately $230,000.

Other large investors have also recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new stake in Wheaton Precious Metals during the 4th quarter worth approximately $39,000. St. Johns Investment Management Company LLC purchased a new stake in Wheaton Precious Metals during the 1st quarter worth approximately $52,000. Western Pacific Wealth Management LP increased its stake in Wheaton Precious Metals by 47.6% during the 4th quarter. Western Pacific Wealth Management LP now owns 1,113 shares of the company’s stock worth $55,000 after buying an additional 359 shares during the period. Hexagon Capital Partners LLC increased its stake in Wheaton Precious Metals by 30.8% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,159 shares of the company’s stock worth $57,000 after buying an additional 273 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its stake in Wheaton Precious Metals by 25.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock worth $65,000 after buying an additional 253 shares during the period. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WPM. Scotiabank increased their price objective on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. BMO Capital Markets lifted their price target on Wheaton Precious Metals from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. TD Securities dropped their price objective on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Berenberg Bank raised their target price on Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, Jefferies Financial Group raised their target price on Wheaton Precious Metals from $62.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.50.

Wheaton Precious Metals Stock Up 1.8 %

WPM opened at $62.11 on Friday. The firm has a market cap of $28.18 billion, a price-to-earnings ratio of 47.78, a price-to-earnings-growth ratio of 2.20 and a beta of 0.76. Wheaton Precious Metals Corp. has a 52 week low of $38.37 and a 52 week high of $63.06. The business’s 50 day moving average is $57.10 and its two-hundred day moving average is $52.19.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. The company had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The firm’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 earnings per share. Equities analysts expect that Wheaton Precious Metals Corp. will post 1.38 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Wednesday, August 21st. Wheaton Precious Metals’s payout ratio is currently 47.69%.

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.