Miracle Mile Advisors LLC Makes New Investment in Wheaton Precious Metals Corp. (NYSE:WPM)

Miracle Mile Advisors LLC bought a new stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 13,740 shares of the company's stock, valued at approximately $773,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc bought a new stake in shares of Wheaton Precious Metals in the 4th quarter worth approximately $29,000. Abich Financial Wealth Management LLC acquired a new position in shares of Wheaton Precious Metals in the second quarter valued at $31,000. GAMMA Investing LLC bought a new position in Wheaton Precious Metals in the fourth quarter worth $41,000. Sunbelt Securities Inc. acquired a new stake in Wheaton Precious Metals during the second quarter worth $47,000. Finally, St. Johns Investment Management Company LLC bought a new stake in Wheaton Precious Metals in the 3rd quarter valued at $48,000. 70.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on WPM shares. Jefferies Financial Group lifted their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a "buy" rating in a research report on Friday, October 4th. Raymond James lifted their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an "outperform" rating in a report on Friday, October 25th. National Bank Financial raised Wheaton Precious Metals from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 10th. TD Securities boosted their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Finally, UBS Group initiated coverage on Wheaton Precious Metals in a research note on Monday, November 18th. They set a "buy" rating and a $78.00 price objective for the company. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $71.67.

Wheaton Precious Metals Stock Performance

Wheaton Precious Metals stock traded down $0.67 on Thursday, reaching $57.47. The company's stock had a trading volume of 1,272,940 shares, compared to its average volume of 1,553,204. Wheaton Precious Metals Corp. has a twelve month low of $38.57 and a twelve month high of $68.64. The company has a market cap of $26.07 billion, a price-to-earnings ratio of 42.89, a PEG ratio of 1.28 and a beta of 0.76. The business's fifty day moving average price is $59.80 and its 200 day moving average price is $60.38.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. The business had revenue of $308.25 million for the quarter, compared to the consensus estimate of $324.57 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. During the same quarter in the prior year, the company earned $0.27 EPS. As a group, equities analysts forecast that Wheaton Precious Metals Corp. will post 1.45 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 21st were issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Thursday, November 21st. Wheaton Precious Metals's dividend payout ratio is currently 46.27%.

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.