Atlas Wealth Partners LLC Purchases New Shares in Wheaton Precious Metals Corp. (NYSE:WPM)

Atlas Wealth Partners LLC acquired a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) during the third quarter, HoldingsChannel reports. The fund acquired 22,016 shares of the company’s stock, valued at approximately $1,345,000. Wheaton Precious Metals makes up approximately 2.1% of Atlas Wealth Partners LLC’s investment portfolio, making the stock its 10th largest holding.

Other large investors have also recently added to or reduced their stakes in the company. Ridgewood Investments LLC acquired a new stake in shares of Wheaton Precious Metals in the second quarter valued at approximately $31,000. Abich Financial Wealth Management LLC acquired a new position in Wheaton Precious Metals in the 2nd quarter valued at $31,000. Sunbelt Securities Inc. bought a new stake in shares of Wheaton Precious Metals during the 2nd quarter valued at $47,000. St. Johns Investment Management Company LLC acquired a new stake in shares of Wheaton Precious Metals during the 1st quarter worth $52,000. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of Wheaton Precious Metals by 25.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock worth $65,000 after purchasing an additional 253 shares during the period. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

Shares of WPM opened at $66.49 on Friday. Wheaton Precious Metals Corp. has a 52 week low of $38.57 and a 52 week high of $66.75. The stock has a market capitalization of $30.16 billion, a price-to-earnings ratio of 52.77, a PEG ratio of 2.18 and a beta of 0.78. The stock has a fifty day moving average of $61.09 and a 200-day moving average of $57.03.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The business had revenue of $299.06 million during the quarter, compared to analysts’ expectations of $309.54 million. During the same quarter in the prior year, the firm earned $0.31 EPS. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, equities analysts forecast that Wheaton Precious Metals Corp. will post 1.44 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 annualized dividend and a yield of 0.93%. Wheaton Precious Metals’s dividend payout ratio is presently 49.21%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Bank of America increased their price objective on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. National Bank Financial upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Scotiabank boosted 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. Berenberg Bank raised their target price on Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Finally, CIBC boosted their price target on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Buy” and an average target price of $69.88.

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.