Summit Financial LLC Increases Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Summit Financial LLC grew its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 8.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 371,574 shares of the company's stock after purchasing an additional 27,423 shares during the quarter. Wheaton Precious Metals makes up about 0.7% of Summit Financial LLC's investment portfolio, making the stock its 20th largest holding. Summit Financial LLC owned approximately 0.08% of Wheaton Precious Metals worth $20,897,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc bought a new stake in Wheaton Precious Metals during the 4th quarter valued at approximately $29,000. Promus Capital LLC purchased a new stake in Wheaton Precious Metals during the 4th quarter valued at approximately $32,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $38,000. Laurel Wealth Advisors LLC purchased a new position in shares of Wheaton Precious Metals in the fourth quarter worth $39,000. Finally, Quintet Private Bank Europe S.A. bought a new position in shares of Wheaton Precious Metals during the fourth quarter worth $39,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on WPM shares. Scotiabank lifted their price target on shares of Wheaton Precious Metals from $78.00 to $79.00 and gave the company a "sector outperform" rating in a report on Monday, March 17th. Stifel Canada raised Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Wheaton Precious Metals presently has an average rating of "Buy" and an average price target of $72.44.

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Wheaton Precious Metals Price Performance

Shares of NYSE WPM traded down $0.74 during mid-day trading on Tuesday, hitting $76.89. 1,852,040 shares of the company's stock traded hands, compared to its average volume of 1,650,809. The company has a market capitalization of $34.88 billion, a P/E ratio of 57.38, a PEG ratio of 1.91 and a beta of 0.77. Wheaton Precious Metals Corp. has a 1 year low of $48.00 and a 1 year high of $78.10. The company's 50-day moving average is $69.19 and its two-hundred day moving average is $64.03.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01). Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The company had revenue of $380.52 million during the quarter, compared to the consensus estimate of $395.74 million. During the same period in the previous year, the business earned $0.36 earnings per share. Wheaton Precious Metals's revenue for the quarter was up 21.4% on a year-over-year basis. Equities analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.165 per share. This is a boost from Wheaton Precious Metals's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.66 dividend on an annualized basis and a yield of 0.86%. Wheaton Precious Metals's payout ratio is 56.90%.

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.