Telemark Asset Management LLC Invests $3.67 Million in Wheaton Precious Metals Corp. (NYSE:WPM)

Telemark Asset Management LLC purchased a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 60,000 shares of the company’s stock, valued at approximately $3,665,000.

Several other large investors have also recently added to or reduced their stakes in WPM. Ridgewood Investments LLC acquired a new stake in shares of Wheaton Precious Metals during the second quarter worth $31,000. Abich Financial Wealth Management LLC bought a new stake in shares of Wheaton Precious Metals during the 2nd quarter valued at about $31,000. St. Johns Investment Management Company LLC acquired a new stake in Wheaton Precious Metals during the third quarter worth about $48,000. Sunbelt Securities Inc. bought a new position in Wheaton Precious Metals in the second quarter worth about $47,000. Finally, First Horizon Advisors Inc. bought a new position in Wheaton Precious Metals in the third quarter worth about $67,000. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Stock Up 0.9 %

WPM stock opened at $63.40 on Friday. The company has a 50-day simple moving average of $62.99 and a 200 day simple moving average of $59.06. The company has a market capitalization of $28.76 billion, a P/E ratio of 47.31, a PEG ratio of 2.28 and a beta of 0.77. Wheaton Precious Metals Corp. has a fifty-two week low of $38.57 and a fifty-two week high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share 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 company had revenue of $308.25 million during the quarter, compared to analyst estimates of $324.57 million. During the same period in the prior year, the business posted $0.27 EPS. Equities analysts anticipate that Wheaton Precious Metals Corp. will post 1.44 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company 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 dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 46.27%.

Analyst Ratings Changes

Several research firms have recently commented on WPM. Stifel Canada lowered Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Scotiabank upped their price objective 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. National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Jefferies Financial Group boosted their price target on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, TD Securities increased their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $71.67.

About Wheaton Precious Metals

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.