MTM Investment Management LLC Takes $202,000 Position in Wheaton Precious Metals Corp. (NYSE:WPM)

MTM Investment Management LLC acquired a new position in Wheaton Precious Metals Corp. (NYSE:WPM) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,343 shares of the company’s stock, valued at approximately $202,000.

Several other institutional investors have also added to or reduced their stakes in WPM. Ridgewood Investments LLC bought a new position in shares of Wheaton Precious Metals during the second quarter valued at $31,000. Abich Financial Wealth Management LLC bought a new position in Wheaton Precious Metals during the 2nd quarter valued at about $31,000. Sunbelt Securities Inc. purchased a new stake in shares of Wheaton Precious Metals during the 2nd quarter valued at about $47,000. St. Johns Investment Management Company LLC bought a new stake in shares of Wheaton Precious Metals in the third quarter worth approximately $48,000. Finally, Western Pacific Wealth Management LP raised its holdings in shares of Wheaton Precious Metals by 19.6% during the first quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock valued at $63,000 after purchasing an additional 218 shares during the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

Shares of NYSE WPM opened at $62.60 on Wednesday. Wheaton Precious Metals Corp. has a fifty-two week low of $38.57 and a fifty-two week high of $68.64. The company has a market cap of $28.40 billion, a price-to-earnings ratio of 46.72, a PEG ratio of 2.14 and a beta of 0.77. The business’s 50 day moving average price is $62.87 and its 200-day moving average price is $59.00.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The business had revenue of $308.25 million for the quarter, compared to analyst estimates of $324.57 million. During the same period last year, the company posted $0.27 earnings per share. Sell-side analysts predict that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 21st will be given a $0.155 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.62 annualized dividend and a dividend yield of 0.99%. Wheaton Precious Metals’s payout ratio is presently 46.27%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. TD Securities lifted their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Jefferies Financial Group upped their price target on Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Stifel Canada cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Scotiabank lifted their price objective on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Finally, National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and a consensus 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.