Schwartz Investment Counsel Inc. cut its holdings in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 2.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 265,000 shares of the company’s stock after selling 6,000 shares during the quarter. Schwartz Investment Counsel Inc. owned approximately 0.06% of Wheaton Precious Metals worth $34,718,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Wheaton Precious Metals by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 19,079,029 shares of the company’s stock worth $2,242,969,000 after purchasing an additional 289,939 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Wheaton Precious Metals by 10.7% during the fourth quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company’s stock valued at $1,700,517,000 after purchasing an additional 1,402,092 shares during the last quarter. Capital International Investors lifted its holdings in shares of Wheaton Precious Metals by 1.2% during the fourth quarter. Capital International Investors now owns 7,595,725 shares of the company’s stock valued at $892,650,000 after purchasing an additional 93,599 shares during the last quarter. Norges Bank purchased a new position in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $864,977,000. Finally, TD Asset Management Inc boosted its position in shares of Wheaton Precious Metals by 0.5% in the 4th quarter. TD Asset Management Inc now owns 7,285,275 shares of the company’s stock worth $857,598,000 after purchasing an additional 33,221 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors.
Wheaton Precious Metals Stock Performance
Shares of NYSE WPM opened at $107.94 on Tuesday. The firm’s 50 day moving average price is $122.63 and its 200-day moving average price is $132.46. Wheaton Precious Metals Corp. has a 52-week low of $87.96 and a 52-week high of $165.76. The company has a market cap of $49.02 billion, a PE ratio of 27.26, a P/E/G ratio of 1.89 and a beta of 0.55.
Wheaton Precious Metals Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were paid a $0.195 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. Wheaton Precious Metals’s payout ratio is currently 19.70%.
Analysts Set New Price Targets
Several research firms recently weighed in on WPM. TD Securities upped their price target on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Jefferies Financial Group lowered their price objective on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Scotiabank boosted 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. Wall Street Zen cut Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, TD Cowen raised their price target on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a report on Monday, March 16th. Twelve investment 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 currently has an average rating of “Moderate Buy” and a consensus target price of $161.55.
Get Our Latest Research Report on WPM
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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