Perpetual Ltd Takes $50.43 Million Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Perpetual Ltd bought a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 649,623 shares of the company’s stock, valued at approximately $50,430,000. Perpetual Ltd owned approximately 0.14% of Wheaton Precious Metals as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Promus Capital LLC acquired a new position in Wheaton Precious Metals in the 4th quarter valued at $32,000. NBT Bank N A NY grew its holdings in shares of Wheaton Precious Metals by 129.3% during the first quarter. NBT Bank N A NY now owns 415 shares of the company’s stock worth $32,000 after buying an additional 234 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at about $38,000. Quintet Private Bank Europe S.A. acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at about $39,000. Finally, Headlands Technologies LLC lifted its stake in shares of Wheaton Precious Metals by 494.9% in the fourth quarter. Headlands Technologies LLC now owns 696 shares of the company’s stock worth $39,000 after buying an additional 579 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Up 1.0%

NYSE:WPM opened at $90.19 on Friday. Wheaton Precious Metals Corp. has a 52 week low of $51.96 and a 52 week high of $95.23. The stock’s fifty day moving average is $85.80 and its two-hundred day moving average is $73.32. The company has a market capitalization of $40.94 billion, a P/E ratio of 66.32, a P/E/G ratio of 2.73 and a beta of 0.46.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.05. Wheaton Precious Metals had a net margin of 42.45% and a return on equity of 10.32%. The firm had revenue of $470.41 million for the quarter, compared to analyst estimates of $446.33 million. During the same period in the previous year, the firm earned $0.36 EPS. Wheaton Precious Metals’s revenue was up 58.4% on a year-over-year basis. Sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend was Wednesday, May 28th. Wheaton Precious Metals’s dividend payout ratio (DPR) is 48.53%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on WPM shares. Scotiabank upped their price objective on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the company a “sector outperform” rating in a research note on Monday, April 14th. Raymond James Financial upped their price target on Wheaton Precious Metals from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, April 15th. UBS Group lifted their price objective on Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Wall Street Zen upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Finally, CIBC raised their target price on Wheaton Precious Metals from $95.00 to $105.00 and gave the stock an “outperformer” rating in a research note on Friday, May 9th. One analyst has rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $89.78.

Wheaton Precious Metals 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.