Shikiar Asset Management Inc. Buys Shares of 58,775 Wheaton Precious Metals Corp. $WPM

Shikiar Asset Management Inc. acquired a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 58,775 shares of the company’s stock, valued at approximately $6,573,000. Wheaton Precious Metals makes up about 1.7% of Shikiar Asset Management Inc.’s holdings, making the stock its 25th biggest holding.

Several other institutional investors also recently made changes to their positions in the stock. West Family Investments Inc. acquired a new position in Wheaton Precious Metals in the 2nd quarter worth $247,000. Norges Bank acquired a new position in shares of Wheaton Precious Metals during the second quarter worth about $656,463,000. Louisbourg Investments Inc. boosted its position in shares of Wheaton Precious Metals by 72.9% during the second quarter. Louisbourg Investments Inc. now owns 115,846 shares of the company’s stock worth $10,398,000 after buying an additional 48,852 shares during the period. State of Wyoming bought a new position in shares of Wheaton Precious Metals during the second quarter worth about $782,000. Finally, B.O.S.S. Retirement Advisors LLC acquired a new stake in Wheaton Precious Metals in the 2nd quarter valued at approximately $218,000. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Price Performance

Shares of NYSE WPM opened at $122.13 on Tuesday. Wheaton Precious Metals Corp. has a 1 year low of $55.47 and a 1 year high of $123.82. The firm has a market cap of $55.45 billion, a PE ratio of 55.51, a price-to-earnings-growth ratio of 1.78 and a beta of 0.54. The company has a 50 day simple moving average of $105.25 and a 200 day simple moving average of $100.07.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. Wheaton Precious Metals had a return on equity of 13.32% and a net margin of 54.72%.The business had revenue of $476.26 million during the quarter, compared to the consensus estimate of $495.53 million. During the same period in the prior year, the business posted $0.34 earnings per share. Wheaton Precious Metals’s quarterly revenue was up 54.5% on a year-over-year basis. As a group, research analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, November 20th. Wheaton Precious Metals’s dividend payout ratio is currently 30.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on WPM shares. Raymond James Financial boosted their price objective on shares of Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Jefferies Financial Group restated a “buy” rating and set a $145.00 price objective on shares of Wheaton Precious Metals in a research note on Sunday, December 7th. UBS Group raised their price objective on Wheaton Precious Metals from $116.00 to $118.00 and gave the company a “neutral” rating in a report on Monday, December 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Monday, December 15th. Finally, CIBC raised their price objective on shares of Wheaton Precious Metals from $135.00 to $160.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $130.78.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.