Intech Investment Management LLC grew its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 5.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,958 shares of the company’s stock after acquiring an additional 5,575 shares during the period. Intech Investment Management LLC’s holdings in Wheaton Precious Metals were worth $13,415,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assetmark Inc. raised 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 acquiring an additional 130 shares during the last quarter. Cary Street Partners Investment Advisory LLC bought a new position in shares of Wheaton Precious Metals during the fourth quarter valued at about $28,000. Navalign LLC bought a new position in shares of Wheaton Precious Metals during the fourth quarter valued at about $30,000. Eagle Bay Advisors LLC bought a new position in shares of Wheaton Precious Metals during the fourth quarter valued at about $32,000. Finally, Aventura Private Wealth LLC purchased a new position in shares of Wheaton Precious Metals during the fourth quarter valued at about $34,000. 70.34% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the stock. TD Securities boosted their price target on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, March 16th. TD Cowen boosted their price target on shares of 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 boosted their price target on shares of Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. BMO Capital Markets assumed coverage on shares of Wheaton Precious Metals in a research report on Thursday, April 9th. They set an “outperform” rating and a $240.00 price target on the stock. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. Thirteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and a consensus target price of $155.64.
Wheaton Precious Metals Stock Performance
Shares of WPM opened at $132.74 on Friday. The stock has a market cap of $60.28 billion, a PE ratio of 33.52, a price-to-earnings-growth ratio of 2.45 and a beta of 0.50. Wheaton Precious Metals Corp. has a fifty-two week low of $85.59 and a fifty-two week high of $165.76. The firm’s 50-day simple moving average is $133.63 and its two-hundred day simple moving average is $130.61.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. The business had revenue of $901.47 million for the quarter, compared to analysts’ expectations of $868.35 million. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The business’s revenue was up 91.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.55 earnings per share. Equities research analysts predict that Wheaton Precious Metals Corp. will post 4.98 EPS for the current year.
Wheaton Precious Metals Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th will be issued a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio is 19.70%.
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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