Creative Planning Grows Stake in Wheaton Precious Metals Corp. (NYSE:WPM)

Posted by Defense World Staff on Oct 14th, 2023

Creative Planning raised its stake in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 16.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,508 shares of the company’s stock after acquiring an additional 4,492 shares during the quarter. Creative Planning’s holdings in Wheaton Precious Metals were worth $1,405,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its stake in shares of Wheaton Precious Metals by 67.3% during the 1st quarter. Allworth Financial LP now owns 654 shares of the company’s stock valued at $31,000 after buying an additional 263 shares in the last quarter. MCF Advisors LLC lifted its stake in shares of Wheaton Precious Metals by 7,566.7% during the 1st quarter. MCF Advisors LLC now owns 690 shares of the company’s stock valued at $33,000 after buying an additional 681 shares in the last quarter. Atlas Capital Advisors LLC purchased a new stake in shares of Wheaton Precious Metals during the 4th quarter valued at approximately $29,000. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in shares of Wheaton Precious Metals by 54.7% during the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 792 shares of the company’s stock valued at $31,000 after buying an additional 280 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of Wheaton Precious Metals by 52.0% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,005 shares of the company’s stock valued at $48,000 after buying an additional 344 shares in the last quarter. 58.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on WPM shares. Barclays lowered their target price on shares of Wheaton Precious Metals from $42.00 to $41.00 in a research note on Friday, July 7th. Berenberg Bank lowered their target price on shares of Wheaton Precious Metals from $61.00 to $58.00 and set a “buy” rating on the stock in a research note on Wednesday. StockNews.com started coverage on shares of Wheaton Precious Metals in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, National Bank Financial lowered their target price on shares of Wheaton Precious Metals from C$75.00 to C$72.50 in a research note on Monday, September 25th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Wheaton Precious Metals has an average rating of “Moderate Buy” and a consensus target price of $60.96.

Check Out Our Latest Report on WPM

Wheaton Precious Metals Stock Performance

WPM stock opened at $42.48 on Friday. Wheaton Precious Metals Corp. has a 52 week low of $30.35 and a 52 week high of $52.76. The firm’s fifty day moving average is $42.27 and its 200 day moving average is $45.06. The firm has a market cap of $19.24 billion, a P/E ratio of 31.23, a P/E/G ratio of 7.12 and a beta of 0.62.

Wheaton Precious Metals (NYSE:WPM – Get Free Report) last released its earnings results on Friday, August 11th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.27 by $0.04. Wheaton Precious Metals had a net margin of 65.87% and a return on equity of 6.61%. The company had revenue of $264.97 million for the quarter, compared to analyst estimates of $250.73 million. During the same quarter last year, the firm earned $0.33 EPS. The firm’s quarterly revenue was down 12.5% compared to the same quarter last year. As a group, analysts forecast that Wheaton Precious Metals Corp. will post 1.15 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Friday, August 25th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Thursday, August 24th. Wheaton Precious Metals’s dividend payout ratio is currently 44.12%.

Wheaton Precious Metals Profile

(Free Report)

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 10, 2017. Wheaton Precious Metals Corp.