Insigneo Advisory Services LLC Buys Shares of 8,366 Wheaton Precious Metals Corp. (NYSE:WPM)

Insigneo Advisory Services LLC purchased a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,366 shares of the company's stock, valued at approximately $469,000.

Several other hedge funds and other institutional investors have also made changes to their positions in WPM. AdvisorNet Financial Inc increased its position in Wheaton Precious Metals by 6.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company's stock worth $175,000 after purchasing an additional 190 shares in the last quarter. Capital International Inc. CA increased its position in Wheaton Precious Metals by 2.5% during the 1st quarter. Capital International Inc. CA now owns 8,308 shares of the company's stock worth $392,000 after purchasing an additional 204 shares in the last quarter. Western Pacific Wealth Management LP grew its holdings in Wheaton Precious Metals by 19.6% in the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company's stock valued at $63,000 after buying an additional 218 shares during the period. Brookstone Capital Management grew its holdings in Wheaton Precious Metals by 5.3% in the 1st quarter. Brookstone Capital Management now owns 4,771 shares of the company's stock valued at $225,000 after buying an additional 240 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Wheaton Precious Metals by 25.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company's stock valued at $65,000 after buying an additional 253 shares during the period. Institutional investors and hedge funds own 70.34% of the company's stock.

Analysts Set New Price Targets

WPM has been the subject of several recent analyst reports. TD Securities lowered their price target on Wheaton Precious Metals from $71.00 to $70.00 and set a "buy" rating for the company in a report on Thursday, August 15th. Scotiabank lifted their price target on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a "sector outperform" rating in a report on Monday, August 19th. Jefferies Financial Group lifted their price objective on Wheaton Precious Metals from $62.00 to $67.00 and gave the company a "buy" rating in a research note on Friday, July 12th. CIBC lifted their price objective on Wheaton Precious Metals from $75.00 to $80.00 and gave the company an "outperformer" rating in a research note on Wednesday, July 10th. Finally, Berenberg Bank lifted their price objective 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. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $68.63.

Wheaton Precious Metals Stock Performance

Wheaton Precious Metals stock opened at $64.22 on Friday. The stock's 50 day moving average price is $59.93 and its 200 day moving average price is $55.24. The firm has a market capitalization of $29.13 billion, a PE ratio of 49.40, a price-to-earnings-growth ratio of 2.27 and a beta of 0.78. Wheaton Precious Metals Corp. has a one year low of $38.37 and a one year high of $64.82.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. The firm had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. Wheaton Precious Metals's revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 EPS. On average, analysts forecast that Wheaton Precious Metals Corp. will post 1.41 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Wednesday, August 21st. Wheaton Precious Metals's payout ratio is 47.69%.

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.