Wheaton Precious Metals Corp. $WPM Shares Purchased by Shikiar Asset Management Inc.

Shikiar Asset Management Inc. increased its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 25.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 73,445 shares of the company’s stock after acquiring an additional 14,670 shares during the period. Wheaton Precious Metals makes up approximately 2.1% of Shikiar Asset Management Inc.’s holdings, making the stock its 13th largest holding. Shikiar Asset Management Inc.’s holdings in Wheaton Precious Metals were worth $8,631,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WPM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Wheaton Precious Metals by 36.2% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,955,810 shares of the company’s stock worth $777,938,000 after acquiring an additional 1,847,977 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Wheaton Precious Metals by 53.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,197,048 shares of the company’s stock valued at $469,459,000 after purchasing an additional 1,453,572 shares in the last quarter. Bank of Montreal Can raised its position in shares of Wheaton Precious Metals by 26.1% in the 3rd quarter. Bank of Montreal Can now owns 6,455,675 shares of the company’s stock valued at $722,270,000 after purchasing an additional 1,335,588 shares in the last quarter. Qube Research & Technologies Ltd raised its position in shares of Wheaton Precious Metals by 1,655.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,245,766 shares of the company’s stock valued at $139,333,000 after purchasing an additional 1,174,799 shares in the last quarter. Finally, Capital Research Global Investors raised its position in shares of Wheaton Precious Metals by 158.1% in the 3rd quarter. Capital Research Global Investors now owns 1,458,898 shares of the company’s stock valued at $163,224,000 after purchasing an additional 893,733 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WPM has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Monday, December 29th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. TD Cowen upped their target price on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Scotiabank upped their target price on Wheaton Precious Metals from $175.00 to $178.00 and gave the company a “sector outperform” rating in a research report on Monday, March 16th. Finally, Royal Bank Of Canada raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $115.00 to $130.00 in a research report on Wednesday, December 10th. Thirteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $145.36.

Wheaton Precious Metals Trading Up 3.2%

WPM stock opened at $140.31 on Thursday. The firm has a market cap of $63.70 billion, a P/E ratio of 43.30, a P/E/G ratio of 3.43 and a beta of 0.60. The stock’s 50 day simple moving average is $140.50 and its 200 day simple moving average is $122.66. Wheaton Precious Metals Corp. has a 12-month low of $71.81 and a 12-month high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Thursday, March 12th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.31. The firm had revenue of $864.71 million during the quarter, compared to the consensus estimate of $719.59 million. Wheaton Precious Metals had a return on equity of 17.17% and a net margin of 63.58%.The firm’s revenue was up 127.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.44 EPS. On average, research analysts forecast that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, March 31st. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.17. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 24.07%.

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.