Summit Financial LLC Grows Stake in Wheaton Precious Metals Corp. (NYSE:WPM)

Summit Financial LLC lifted its stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 8.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 371,574 shares of the company's stock after buying an additional 27,423 shares during the period. Wheaton Precious Metals makes up approximately 0.7% of Summit Financial LLC's investment portfolio, making the stock its 20th biggest position. Summit Financial LLC owned about 0.08% of Wheaton Precious Metals worth $20,897,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Versant Capital Management Inc bought a new position in Wheaton Precious Metals in the fourth quarter valued at approximately $29,000. Promus Capital LLC bought a new position in shares of Wheaton Precious Metals in the 4th quarter valued at $32,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Wheaton Precious Metals during the 4th quarter worth $38,000. Laurel Wealth Advisors LLC bought a new stake in shares of Wheaton Precious Metals during the 4th quarter worth $39,000. Finally, Quintet Private Bank Europe S.A. acquired a new stake in Wheaton Precious Metals in the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 70.34% of the company's stock.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock traded down $5.87 during trading hours on Friday, reaching $72.64. The company's stock had a trading volume of 1,973,799 shares, compared to its average volume of 1,665,405. The company has a market capitalization of $32.95 billion, a P/E ratio of 54.21, a P/E/G ratio of 1.91 and a beta of 0.74. The stock's fifty day simple moving average is $69.95 and its two-hundred day simple moving average is $64.22. Wheaton Precious Metals Corp. has a one year low of $49.41 and a one year high of $80.43.

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

Wheaton Precious Metals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be paid a $0.165 dividend. This is a positive change 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 annualized dividend and a dividend yield of 0.91%. Wheaton Precious Metals's dividend payout ratio is presently 56.90%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WPM. Stifel Canada upgraded shares of Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 4th. Royal Bank of Canada upped their price target on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a "sector perform" rating in a report on Friday. Finally, Scotiabank raised their price objective on Wheaton Precious Metals from $78.00 to $79.00 and gave the company a "sector outperform" rating in a report on Monday, March 17th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Wheaton Precious Metals has an average rating of "Buy" and a consensus price target of $73.20.

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.