Focus Partners Advisor Solutions LLC reduced its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 22.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,713 shares of the company’s stock after selling 5,748 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Wheaton Precious Metals were worth $2,317,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of WPM. TD Asset Management Inc boosted its position in Wheaton Precious Metals by 3.5% during the 3rd quarter. TD Asset Management Inc now owns 7,252,054 shares of the company’s stock valued at $811,726,000 after purchasing an additional 244,027 shares during the period. Varma Mutual Pension Insurance Co boosted its position in Wheaton Precious Metals by 8.5% during the 3rd quarter. Varma Mutual Pension Insurance Co now owns 207,358 shares of the company’s stock valued at $23,210,000 after purchasing an additional 16,300 shares during the period. Sprott Inc. boosted its position in Wheaton Precious Metals by 3.0% during the 3rd quarter. Sprott Inc. now owns 1,151,886 shares of the company’s stock valued at $128,928,000 after purchasing an additional 33,076 shares during the period. LBP AM SA boosted its position in Wheaton Precious Metals by 632.2% during the 4th quarter. LBP AM SA now owns 119,855 shares of the company’s stock valued at $14,085,000 after purchasing an additional 103,485 shares during the period. Finally, Montrusco Bolton Investments Inc. boosted its position in Wheaton Precious Metals by 107.0% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 233,795 shares of the company’s stock valued at $26,169,000 after purchasing an additional 120,866 shares during the period. 70.34% of the stock is currently owned by hedge funds and other institutional investors.
Wheaton Precious Metals Price Performance
Shares of Wheaton Precious Metals stock opened at $107.54 on Thursday. The business’s fifty day moving average price is $133.59 and its two-hundred day moving average price is $131.75. The company has a market capitalization of $48.84 billion, a P/E ratio of 27.16, a PEG ratio of 2.12 and a beta of 0.51. Wheaton Precious Metals Corp. has a 1-year low of $85.59 and a 1-year high of $165.76.
Wheaton Precious Metals Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were paid a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 27th. Wheaton Precious Metals’s payout ratio is currently 19.70%.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. BMO Capital Markets assumed coverage on Wheaton Precious Metals in a research note on Thursday, April 9th. They set an “outperform” rating and a $240.00 target price on the stock. UBS Group raised Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 target price on the stock in a research note on Friday, March 27th. Scotiabank lifted their target price on Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. TD Securities lifted their target price on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Finally, Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Thirteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $155.64.
Read Our Latest Stock Analysis on Wheaton Precious Metals
Wheaton Precious Metals Company 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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