Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 40,961 shares of the company’s stock, valued at approximately $4,814,000.
Other hedge funds have also made changes to their positions in the company. Assetmark Inc. increased its stake in shares of Wheaton Precious Metals by 144.4% during the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock valued at $26,000 after buying an additional 130 shares during the period. Root Financial Partners LLC purchased a new stake in Wheaton Precious Metals in the third quarter worth about $29,000. Navalign LLC bought a new position in Wheaton Precious Metals during the 4th quarter worth about $30,000. Eagle Bay Advisors LLC bought a new position in Wheaton Precious Metals during the 4th quarter worth about $32,000. Finally, Triumph Capital Management purchased a new position in Wheaton Precious Metals during the 3rd quarter valued at about $33,000. 70.34% of the stock is currently owned by hedge funds and other institutional investors.
Wheaton Precious Metals Stock Performance
WPM stock opened at $127.21 on Thursday. Wheaton Precious Metals Corp. has a one year low of $83.60 and a one year high of $165.76. The firm has a market cap of $57.76 billion, a price-to-earnings ratio of 32.12, a PEG ratio of 2.40 and a beta of 0.50. The firm has a 50-day simple moving average of $135.41 and a two-hundred day simple moving average of $129.28.
Wheaton Precious Metals Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th will be given a dividend of $0.195 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio is presently 19.70%.
Analyst Ratings Changes
Several equities research analysts have recently commented on the stock. Wall Street Zen lowered shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Wheaton Precious Metals in a report on Wednesday, February 4th. UBS Group raised shares of Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 price objective for the company in a research note on Friday, March 27th. Scotiabank upped their target price on Wheaton Precious Metals from $178.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Finally, TD Cowen increased 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. Thirteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $155.64.
Read Our Latest Stock Analysis on WPM
About Wheaton Precious Metals
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.
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