Lombard Odier Asset Management Switzerland SA bought a new stake in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 8,444 shares of the company’s stock, valued at approximately $1,107,000.
Other institutional investors also recently made changes to their positions in the company. LBP AM SA increased its stake in Wheaton Precious Metals by 632.2% in 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 in the last quarter. Moody Lynn & Lieberson LLC purchased a new stake in Wheaton Precious Metals during the fourth quarter worth $2,052,000. J. Safra Sarasin Holding AG boosted its position 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 in the last quarter. SeaBridge Investment Advisors LLC grew its holdings 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 during the last quarter. Finally, Abacus Wealth Partners LLC grew its holdings in Wheaton Precious Metals by 1,402.0% in the fourth quarter. Abacus Wealth Partners LLC now owns 32,023 shares of the company’s stock valued at $3,763,000 after purchasing an additional 29,891 shares during the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.
Wheaton Precious Metals Stock Up 0.4%
WPM opened at $111.91 on Tuesday. The firm has a market cap of $50.83 billion, a P/E ratio of 28.26, a PEG ratio of 2.01 and a beta of 0.55. The business’s fifty day simple moving average is $117.15 and its 200 day simple moving average is $131.63. Wheaton Precious Metals Corp. has a 52 week low of $90.39 and a 52 week high of $165.76.
Wheaton Precious Metals Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were paid a dividend of $0.195 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio is presently 19.70%.
Analysts Set New Price Targets
WPM has been the topic of several recent research reports. UBS Group decreased their price objective on shares of 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. Royal Bank Of Canada dropped their target price on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. 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 target price for the company. 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 report on Thursday, July 9th. Finally, Wall Street Zen cut shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.09.
Read Our Latest Analysis on WPM
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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