Merit Financial Group LLC Acquires 251 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Merit Financial Group LLC raised its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 5.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,069 shares of the company’s stock after purchasing an additional 251 shares during the quarter. Merit Financial Group LLC’s holdings in Wheaton Precious Metals were worth $394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of WPM. Promus Capital LLC bought a new position in shares of Wheaton Precious Metals during the 4th quarter worth $32,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Wheaton Precious Metals during the 4th quarter worth $38,000. Quintet Private Bank Europe S.A. bought a new position in shares of Wheaton Precious Metals during the 4th quarter worth $39,000. Headlands Technologies LLC grew its stake in shares of Wheaton Precious Metals by 494.9% during the 4th quarter. Headlands Technologies LLC now owns 696 shares of the company’s stock worth $39,000 after acquiring an additional 579 shares during the period. Finally, Flagship Wealth Advisors LLC bought a new position in shares of Wheaton Precious Metals during the 4th quarter worth $41,000. Institutional investors own 70.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on WPM shares. National Bankshares reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Wednesday, April 23rd. UBS Group increased their price target on Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Scotiabank increased their price target on Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a “sector outperform” rating in a research note on Monday, April 14th. Wall Street Zen upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Finally, Royal Bank of Canada raised their target price on Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a “sector perform” rating in a research note on Wednesday, June 4th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $86.90.

Wheaton Precious Metals Stock Down 1.1%

Shares of NYSE WPM opened at $88.12 on Wednesday. The business has a 50-day simple moving average of $82.65 and a two-hundred day simple moving average of $71.04. Wheaton Precious Metals Corp. has a 52 week low of $51.96 and a 52 week high of $95.23. The company has a market cap of $39.99 billion, a P/E ratio of 65.76, a P/E/G ratio of 1.91 and a beta of 0.46.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.05. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The firm had revenue of $470.41 million for the quarter, compared to analysts’ expectations of $446.33 million. During the same quarter last year, the firm posted $0.36 EPS. The company’s revenue was up 58.4% compared to the same quarter last year. Equities research analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were issued a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.66 annualized dividend and a dividend yield of 0.75%. Wheaton Precious Metals’s payout ratio is currently 48.53%.

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.