WCG Wealth Advisors LLC acquired a new stake in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,328 shares of the company’s stock, valued at approximately $1,331,000.
Several other large investors have also made changes to their positions in WPM. Assetmark Inc. boosted its holdings in shares of Wheaton Precious Metals by 144.4% in the 4th 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 acquired a new position in shares of Wheaton Precious Metals in the 4th quarter valued at $28,000. Navalign LLC acquired a new position in shares of Wheaton Precious Metals in the 4th quarter valued at $30,000. Eagle Bay Advisors LLC acquired a new position in shares of Wheaton Precious Metals in the 4th quarter valued at $32,000. Finally, Triumph Capital Management acquired a new position in shares of Wheaton Precious Metals in the 3rd quarter valued at $33,000. 70.34% of the stock is owned by hedge funds and other institutional investors.
Wheaton Precious Metals Stock Down 9.7%
Shares of NYSE:WPM opened at $116.04 on Friday. The firm’s 50 day moving average price is $134.24 and its 200 day moving average price is $131.35. The stock has a market cap of $52.69 billion, a price-to-earnings ratio of 29.30, a price-to-earnings-growth ratio of 2.42 and a beta of 0.51. Wheaton Precious Metals Corp. has a fifty-two week low of $85.59 and a fifty-two week high of $165.76.
Wheaton Precious Metals Announces Dividend
The business 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 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 yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 19.70%.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the stock. 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 objective for the company. Scotiabank upped their target price on shares of Wheaton Precious Metals from $178.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. 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 report on Friday, March 27th. TD Securities upped their price objective on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a report on Monday, March 16th. Finally, Wall Street Zen lowered shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.64.
Read Our Latest Stock Analysis on Wheaton Precious Metals
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.
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