Mediolanum International Funds Ltd grew its position in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 17.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,403 shares of the company’s stock after purchasing an additional 11,903 shares during the period. Mediolanum International Funds Ltd’s holdings in Wheaton Precious Metals were worth $9,828,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the company. LBP AM SA raised its holdings in shares of Wheaton Precious Metals by 632.2% in the fourth 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 last quarter. Moody Lynn & Lieberson LLC bought a new stake in shares of Wheaton Precious Metals in the fourth quarter worth $2,052,000. Exchange Traded Concepts LLC boosted its holdings in Wheaton Precious Metals by 16.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 216,652 shares of the company’s stock worth $25,461,000 after purchasing an additional 30,725 shares during the last quarter. J. Safra Sarasin Holding AG boosted its holdings in Wheaton Precious Metals by 40.5% during the fourth quarter. J. Safra Sarasin Holding AG now owns 96,214 shares of the company’s stock worth $11,308,000 after purchasing an additional 27,729 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC grew its position in Wheaton Precious Metals by 12.0% in the fourth quarter. SeaBridge Investment Advisors LLC now owns 75,180 shares of the company’s stock valued at $8,835,000 after purchasing an additional 8,068 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.
Wheaton Precious Metals Trading Down 0.0%
NYSE:WPM opened at $104.16 on Monday. Wheaton Precious Metals Corp. has a 1-year low of $87.96 and a 1-year high of $165.76. The firm has a fifty day simple moving average of $120.54 and a 200 day simple moving average of $132.05. The stock has a market capitalization of $47.30 billion, a PE ratio of 26.30, a P/E/G ratio of 1.85 and a beta of 0.55.
Wheaton Precious Metals Announces Dividend
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 dividend of $0.195 per share. 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%.
Wall Street Analysts Forecast Growth
WPM has been the topic of several recent research reports. Bank of America lowered their price target on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Weiss Ratings downgraded shares of Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday. Jefferies Financial Group decreased their price objective on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a report on Monday, July 6th. UBS Group lowered their target price on Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Finally, Wall Street Zen lowered Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $161.09.
Check Out Our Latest Research Report on WPM
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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