Indivisible Partners purchased a new stake in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 55,338 shares of the company’s stock, valued at approximately $6,503,000. Wheaton Precious Metals comprises 0.7% of Indivisible Partners’ holdings, making the stock its 28th largest position.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. RFG Advisory LLC acquired a new position in Wheaton Precious Metals in the 4th quarter valued at about $217,000. SBI Securities Co. Ltd. grew its stake in Wheaton Precious Metals by 6.8% in the 4th quarter. SBI Securities Co. Ltd. now owns 6,836 shares of the company’s stock valued at $803,000 after buying an additional 436 shares during the last quarter. Truist Financial Corp grew its stake in Wheaton Precious Metals by 26.0% in the 4th quarter. Truist Financial Corp now owns 11,180 shares of the company’s stock valued at $1,314,000 after buying an additional 2,306 shares during the last quarter. Intact Investment Management Inc. grew its stake in Wheaton Precious Metals by 627.2% in the 4th quarter. Intact Investment Management Inc. now owns 127,980 shares of the company’s stock valued at $15,045,000 after buying an additional 110,380 shares during the last quarter. Finally, Chung Wu Investment Group LLC grew its stake in Wheaton Precious Metals by 1,538.5% in the 4th quarter. Chung Wu Investment Group LLC now owns 2,130 shares of the company’s stock valued at $250,000 after buying an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.
Wheaton Precious Metals Stock Up 0.9%
Shares of NYSE:WPM opened at $125.26 on Wednesday. The company’s 50 day moving average price is $139.92 and its two-hundred day moving average price is $126.54. Wheaton Precious Metals Corp. has a 12-month low of $75.42 and a 12-month high of $165.76. The firm has a market cap of $56.88 billion, a PE ratio of 38.66, a PEG ratio of 2.39 and a beta of 0.50.
Wheaton Precious Metals Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.195 per share. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.6%. Wheaton Precious Metals’s payout ratio is currently 24.07%.
Wall Street Analyst Weigh In
WPM has been the topic of a number of research reports. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Wednesday, February 4th. Scotiabank increased their target price on shares of Wheaton Precious Metals from $175.00 to $178.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 16th. Zacks Research lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. TD Cowen increased their target price on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Finally, Wall Street Zen lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 28th. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $155.45.
Wheaton Precious Metals 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.
Further Reading
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