Red Cedar Investment Management LLC Makes New Investment in Wheaton Precious Metals Corp. (NYSE:WPM)

Red Cedar Investment Management LLC acquired a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 20,224 shares of the company's stock, valued at approximately $1,235,000.

Other large investors have also modified their holdings of the company. Ridgewood Investments LLC bought a new position in Wheaton Precious Metals during the 2nd quarter worth approximately $31,000. Abich Financial Wealth Management LLC bought a new position in Wheaton Precious Metals during the 2nd quarter worth approximately $31,000. Sunbelt Securities Inc. bought a new position in Wheaton Precious Metals during the 2nd quarter worth approximately $47,000. St. Johns Investment Management Company LLC bought a new position in Wheaton Precious Metals in the third quarter valued at approximately $48,000. Finally, Western Pacific Wealth Management LP lifted its stake in Wheaton Precious Metals by 19.6% in the first 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 in the last quarter. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Stock Down 0.4 %

Shares of WPM stock traded down $0.26 on Monday, reaching $64.87. The company had a trading volume of 993,386 shares, compared to its average volume of 1,767,672. The stock has a market capitalization of $29.43 billion, a PE ratio of 51.56, a price-to-earnings-growth ratio of 2.40 and a beta of 0.77. Wheaton Precious Metals Corp. has a one year low of $38.57 and a one year high of $68.64. The business's 50-day moving average is $62.53 and its 200 day moving average is $58.23.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. The company had revenue of $299.06 million during the quarter, compared to the consensus estimate of $309.54 million. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The company's quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS. On average, sell-side analysts forecast that Wheaton Precious Metals Corp. will post 1.44 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. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Wednesday, August 21st. Wheaton Precious Metals's payout ratio is 49.21%.

Analyst Ratings Changes

A number of research analysts have weighed in on WPM shares. Stifel Canada lowered shares of Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 21st. CIBC lifted their price target on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company an "outperformer" rating in a research note on Wednesday, July 10th. TD Securities cut their price target on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a "buy" rating on the stock in a research note on Thursday, August 15th. Scotiabank lifted their price target on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a "sector outperform" rating in a research note on Monday, August 19th. Finally, Jefferies Financial Group lifted their price target on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a "buy" rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.25.

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.