First Horizon Advisors Inc. Makes New Investment in Wheaton Precious Metals Corp. (NYSE:WPM)

First Horizon Advisors Inc. purchased a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,090 shares of the company’s stock, valued at approximately $67,000.

A number of other institutional investors also recently modified their holdings of WPM. PNC Financial Services Group Inc. boosted its stake in Wheaton Precious Metals by 5.6% during the third quarter. PNC Financial Services Group Inc. now owns 33,409 shares of the company’s stock valued at $2,041,000 after buying an additional 1,768 shares during the period. Prospera Financial Services Inc grew its holdings in shares of Wheaton Precious Metals by 0.8% during the third quarter. Prospera Financial Services Inc now owns 87,251 shares of the company’s stock worth $5,329,000 after purchasing an additional 675 shares in the last quarter. MAI Capital Management grew its holdings in shares of Wheaton Precious Metals by 4.5% during the third quarter. MAI Capital Management now owns 8,054 shares of the company’s stock worth $492,000 after purchasing an additional 346 shares in the last quarter. Swiss National Bank increased its position in shares of Wheaton Precious Metals by 0.8% in the third quarter. Swiss National Bank now owns 1,370,800 shares of the company’s stock worth $83,854,000 after purchasing an additional 10,600 shares during the last quarter. Finally, Natixis Advisors LLC raised its stake in Wheaton Precious Metals by 13.2% in the third quarter. Natixis Advisors LLC now owns 62,683 shares of the company’s stock valued at $3,829,000 after purchasing an additional 7,332 shares in the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on WPM shares. Jefferies Financial Group increased their price target on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Scotiabank lifted 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. TD Securities increased their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Stifel Canada downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Finally, National Bank Financial upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $71.67.

Wheaton Precious Metals Price Performance

Shares of Wheaton Precious Metals stock opened at $63.81 on Monday. The stock has a market capitalization of $28.95 billion, a P/E ratio of 47.62, a price-to-earnings-growth ratio of 2.32 and a beta of 0.77. Wheaton Precious Metals Corp. has a one year low of $38.57 and a one year high of $68.64. The business’s 50 day simple moving average is $63.01 and its two-hundred day simple moving average is $59.20.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, meeting 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. Sell-side analysts expect that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 21st will be paid a $0.155 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.62 annualized dividend and a dividend yield of 0.97%. Wheaton Precious Metals’s payout ratio is presently 46.27%.

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.