SeaBridge Investment Advisors LLC Acquires 2,502 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

SeaBridge Investment Advisors LLC grew its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 4.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,943 shares of the company’s stock after acquiring an additional 2,502 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in Wheaton Precious Metals were worth $2,825,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. CVA Family Office LLC acquired a new stake in Wheaton Precious Metals in the fourth quarter worth about $26,000. McGlone Suttner Wealth Management Inc. acquired a new position in Wheaton Precious Metals during the fourth quarter worth $31,000. Principal Securities Inc. acquired a new position in shares of Wheaton Precious Metals in the fourth quarter valued at $39,000. Fifth Third Bancorp lifted its position in Wheaton Precious Metals by 230.7% during the fourth quarter. Fifth Third Bancorp now owns 863 shares of the company’s stock worth $43,000 after purchasing an additional 602 shares during the period. Finally, St. Johns Investment Management Company LLC bought a new position in shares of Wheaton Precious Metals in the first quarter worth about $52,000. 70.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on WPM shares. Scotiabank increased their target price on shares of Wheaton Precious Metals from $59.00 to $66.50 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. BMO Capital Markets lifted their price target on Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, May 21st. TD Securities upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating and boosted their target price for the stock from $51.00 to $53.00 in a research report on Monday, March 18th. Bank of America boosted their price objective on Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Finally, Berenberg Bank boosted their target price on Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Wheaton Precious Metals has an average rating of “Moderate Buy” and an average target price of $61.50.

Wheaton Precious Metals Trading Up 2.4 %

NYSE WPM traded up $1.29 during trading hours on Friday, reaching $55.81. The company’s stock had a trading volume of 1,216,562 shares, compared to its average volume of 1,906,112. The business has a 50-day simple moving average of $54.34 and a 200 day simple moving average of $49.58. Wheaton Precious Metals Corp. has a 52 week low of $38.37 and a 52 week high of $57.87. The stock has a market cap of $25.31 billion, a PE ratio of 42.93, a PEG ratio of 1.90 and a beta of 0.76.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The firm had revenue of $296.80 million during the quarter, compared to analyst estimates of $278.95 million. Wheaton Precious Metals had a net margin of 53.74% and a return on equity of 8.53%. The company’s revenue was up 38.7% on a year-over-year basis. During the same quarter last year, the business posted $0.23 EPS. As a group, equities analysts predict that Wheaton Precious Metals Corp. will post 1.29 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th were given a dividend of $0.155 per share. The ex-dividend date was Wednesday, May 29th. This represents a $0.62 annualized dividend and a dividend yield of 1.11%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 47.69%.

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.