Polar Asset Management Partners Inc. Makes New $685,000 Investment in Wheaton Precious Metals Corp. (NYSE:WPM)

Polar Asset Management Partners Inc. purchased a new stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,208 shares of the company's stock, valued at approximately $685,000.

Other hedge funds have also made changes to their positions in the company. Ridgewood Investments LLC purchased a new stake in Wheaton Precious Metals during the 2nd quarter worth about $31,000. Abich Financial Wealth Management LLC purchased a new stake in Wheaton Precious Metals during the 2nd quarter worth about $31,000. St. Johns Investment Management Company LLC purchased a new stake in Wheaton Precious Metals during the 3rd quarter worth about $48,000. Sunbelt Securities Inc. purchased a new stake in Wheaton Precious Metals during the 2nd quarter worth about $47,000. Finally, First Horizon Advisors Inc. purchased a new stake in Wheaton Precious Metals during the 3rd quarter worth about $67,000. Hedge funds and other institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Stock Performance

Shares of NYSE:WPM traded down $1.60 during mid-day trading on Friday, hitting $61.33. 1,062,204 shares of the company traded hands, compared to its average volume of 1,745,982. The firm has a market cap of $27.82 billion, a P/E ratio of 45.77, a PEG ratio of 1.76 and a beta of 0.75. Wheaton Precious Metals Corp. has a 52-week low of $38.57 and a 52-week high of $68.64. The firm's 50 day simple moving average is $62.89 and its 200 day simple moving average is $59.58.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, meeting 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 return on equity of 8.85% and a net margin of 50.05%. During the same period last year, the business posted $0.27 EPS. Equities research analysts expect that Wheaton Precious Metals Corp. will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 21st were issued a dividend of $0.155 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.62 annualized dividend and a dividend yield of 1.01%. Wheaton Precious Metals's payout ratio is currently 46.27%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WPM. UBS Group began coverage on Wheaton Precious Metals in a research note on Monday, November 18th. They issued a "buy" rating and a $78.00 price target on the stock. Jefferies Financial Group raised their price target on Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a "buy" rating in a research note on Friday, October 4th. Scotiabank raised their price target on Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a "sector outperform" rating in a research note on Monday, August 19th. Stifel Canada lowered Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 21st. Finally, TD Securities lifted their price objective 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. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $71.67.

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.