Benedict Financial Advisors Inc. Takes Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Benedict Financial Advisors Inc. purchased a new position in Wheaton Precious Metals Corp. (NYSE:WPM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,690 shares of the company’s stock, valued at approximately $225,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Wheaton Precious Metals by 27.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 50,782 shares of the company’s stock valued at $3,102,000 after acquiring an additional 11,064 shares during the last quarter. Arkadios Wealth Advisors lifted its holdings in shares of Wheaton Precious Metals by 1.0% during the 3rd quarter. Arkadios Wealth Advisors now owns 21,575 shares of the company’s stock worth $1,318,000 after acquiring an additional 210 shares during the last quarter. Forsta AP Fonden boosted its holdings in shares of Wheaton Precious Metals by 5.6% in the 3rd quarter. Forsta AP Fonden now owns 97,400 shares of the company’s stock worth $5,955,000 after purchasing an additional 5,200 shares in the last quarter. St. Johns Investment Management Company LLC purchased a new position in Wheaton Precious Metals in the 3rd quarter worth $48,000. Finally, Ballentine Partners LLC purchased a new stake in shares of Wheaton Precious Metals during the third quarter valued at approximately $208,000. 70.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WPM. Stifel Canada downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Scotiabank increased 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. CIBC raised their price target on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Raymond James increased their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Jefferies Financial Group lifted 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. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $70.25.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock traded down $0.99 during trading hours on Friday, reaching $66.13. 1,261,257 shares of the company were exchanged, compared to its average volume of 1,759,317. The stock’s fifty day moving average is $62.01 and its 200 day moving average is $57.62. Wheaton Precious Metals Corp. has a 1 year low of $38.57 and a 1 year high of $68.64. The firm has a market cap of $29.99 billion, a PE ratio of 50.87, a PEG ratio of 2.48 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The firm had revenue of $299.06 million for the quarter, compared to the consensus estimate of $309.54 million. During the same quarter last year, the business posted $0.31 EPS. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. Research analysts expect that Wheaton Precious Metals Corp. will post 1.45 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 annualized dividend and a yield of 0.94%. Wheaton Precious Metals’s payout ratio is currently 47.69%.

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.