Prospera Financial Services Inc Boosts Stake in Wheaton Precious Metals Corp. (NYSE:WPM)

Prospera Financial Services Inc increased its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 0.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 87,251 shares of the company’s stock after purchasing an additional 675 shares during the quarter. Prospera Financial Services Inc’s holdings in Wheaton Precious Metals were worth $5,329,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Well Done LLC raised its holdings in Wheaton Precious Metals by 173.9% in the third quarter. Well Done LLC now owns 38,108 shares of the company’s stock worth $2,328,000 after purchasing an additional 24,196 shares in the last quarter. Lighthouse Investment Partners LLC purchased a new stake in shares of Wheaton Precious Metals in the 2nd quarter worth about $1,016,000. Vanguard Group Inc. increased its stake in shares of Wheaton Precious Metals by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 16,770,475 shares of the company’s stock worth $790,392,000 after acquiring an additional 272,918 shares in the last quarter. Natixis bought a new position in shares of Wheaton Precious Metals in the 1st quarter worth about $529,000. Finally, CIBC Asset Management Inc lifted its position in Wheaton Precious Metals by 10.6% during the 3rd quarter. CIBC Asset Management Inc now owns 2,273,160 shares of the company’s stock valued at $140,099,000 after acquiring an additional 218,575 shares during the period. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Stock Performance

WPM opened at $62.60 on Wednesday. The company’s 50-day simple moving average is $62.87 and its two-hundred day simple moving average is $59.00. The stock has a market capitalization of $28.40 billion, a P/E ratio of 46.72, a P/E/G ratio of 2.14 and a beta of 0.77. Wheaton Precious Metals Corp. has a 52-week low of $38.57 and a 52-week high of $68.64.

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

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 21st will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, November 21st. Wheaton Precious Metals’s payout ratio is currently 46.27%.

Wall Street Analysts Forecast Growth

WPM has been the topic of a number of recent research reports. Stifel Canada cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. TD Securities raised their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 8th. National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Jefferies Financial Group increased their target price on Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, Scotiabank lifted their price target on Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and a consensus price target of $71.67.

About Wheaton Precious Metals

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.