Capital Research Global Investors Raises Stock Holdings in Wheaton Precious Metals Corp. $WPM

Capital Research Global Investors boosted its stake in Wheaton Precious Metals Corp. (NYSE:WPMFree Report) by 4.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,527,914 shares of the company’s stock after acquiring an additional 69,016 shares during the period. Capital Research Global Investors’ holdings in Wheaton Precious Metals were worth $179,645,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assetmark Inc. raised its holdings in 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 buying an additional 130 shares during the period. Harvest Fund Management Co. Ltd increased its stake in Wheaton Precious Metals by 100.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock worth $27,000 after purchasing an additional 117 shares during the period. Cary Street Partners Investment Advisory LLC purchased a new stake in Wheaton Precious Metals during the fourth quarter worth about $28,000. Navalign LLC purchased a new stake in Wheaton Precious Metals during the fourth quarter worth about $30,000. Finally, Eagle Bay Advisors LLC purchased a new stake in Wheaton Precious Metals during the fourth quarter worth about $32,000. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Down 1.2%

Shares of WPM opened at $114.88 on Tuesday. The company has a market capitalization of $52.17 billion, a price-to-earnings ratio of 29.01, a price-to-earnings-growth ratio of 2.19 and a beta of 0.51. Wheaton Precious Metals Corp. has a 52-week low of $85.59 and a 52-week high of $165.76. The stock has a 50 day moving average price of $134.16 and a 200 day moving average price of $131.64.

Wheaton Precious Metals (NYSE:WPMGet Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.04. The business had revenue of $901.47 million during the quarter, compared to the consensus estimate of $868.35 million. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The company’s revenue was up 91.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 earnings per share. On average, equities analysts anticipate that Wheaton Precious Metals Corp. will post 4.98 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Investors 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 annualized dividend and a dividend yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 19.70%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Scotiabank boosted their price target on shares of Wheaton Precious Metals from $178.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Zacks Research lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. TD Securities boosted their price target on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. 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. Finally, BMO Capital Markets began coverage on shares of 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. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $155.64.

Check Out Our Latest Report on Wheaton Precious Metals

Wheaton Precious Metals Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Wheaton Precious Metals (NYSE:WPM)

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