TD Asset Management Inc raised its position in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,285,275 shares of the company’s stock after acquiring an additional 33,221 shares during the quarter. TD Asset Management Inc owned approximately 1.60% of Wheaton Precious Metals worth $857,598,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC raised its position in shares of Wheaton Precious Metals by 1.9% in the fourth quarter. Concurrent Investment Advisors LLC now owns 4,203 shares of the company’s stock valued at $494,000 after purchasing an additional 78 shares during the period. Gables Capital Management Inc. raised its position in shares of Wheaton Precious Metals by 7.9% in the fourth quarter. Gables Capital Management Inc. now owns 1,079 shares of the company’s stock valued at $127,000 after purchasing an additional 79 shares during the period. Focus Financial Network Inc. raised its position in shares of Wheaton Precious Metals by 2.5% in the fourth quarter. Focus Financial Network Inc. now owns 3,305 shares of the company’s stock valued at $388,000 after purchasing an additional 81 shares during the period. Jamison Private Wealth Management Inc. raised its position in shares of Wheaton Precious Metals by 1.7% in the fourth quarter. Jamison Private Wealth Management Inc. now owns 5,375 shares of the company’s stock valued at $632,000 after purchasing an additional 92 shares during the period. Finally, Capital Investment Advisors LLC raised its position in shares of Wheaton Precious Metals by 3.9% in the fourth quarter. Capital Investment Advisors LLC now owns 2,460 shares of the company’s stock valued at $289,000 after purchasing an additional 93 shares during the period. Institutional investors and hedge funds own 70.34% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently weighed in on WPM. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. BMO Capital Markets began coverage on shares of Wheaton Precious Metals in a research report on Thursday, April 9th. They issued an “outperform” rating and a $240.00 price objective on the stock. TD Securities increased their price objective 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. 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. Finally, Wall Street Zen lowered shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Thirteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and an average price target of $155.64.
Wheaton Precious Metals Stock Performance
NYSE:WPM opened at $125.09 on Thursday. Wheaton Precious Metals Corp. has a 52 week low of $85.59 and a 52 week high of $165.76. The firm has a market cap of $56.80 billion, a price-to-earnings ratio of 31.59, a P/E/G ratio of 2.46 and a beta of 0.51. The firm’s 50-day simple moving average is $134.21 and its 200 day simple moving average is $131.28.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The business had revenue of $901.47 million for the quarter, compared to analyst estimates of $868.35 million. During the same period last year, the firm earned $0.55 earnings per share. Wheaton Precious Metals’s revenue for the quarter was up 91.7% compared to the same quarter last year. Sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 4.98 EPS for the current year.
Wheaton Precious Metals Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th will be given 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 of this dividend is Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 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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