First Eagle Investment Management LLC boosted its stake in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 3.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,998,263 shares of the company’s stock after buying an additional 644,746 shares during the period. Wheaton Precious Metals accounts for approximately 2.2% of First Eagle Investment Management LLC’s portfolio, making the stock its 11th largest position. First Eagle Investment Management LLC owned 4.64% of Wheaton Precious Metals worth $851,480,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in WPM. Atlas Capital Advisors LLC bought a new stake in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $29,000. Glass Jacobson Investment Advisors llc bought a new stake in shares of Wheaton Precious Metals during the second quarter valued at approximately $33,000. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in shares of Wheaton Precious Metals by 54.7% during the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 792 shares of the company’s stock valued at $31,000 after acquiring an additional 280 shares in the last quarter. Mechanics Financial Corp increased its position in shares of Wheaton Precious Metals by 200.0% during the third quarter. Mechanics Financial Corp now owns 900 shares of the company’s stock valued at $36,000 after acquiring an additional 600 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. increased its position in shares of Wheaton Precious Metals by 38.6% during the third quarter. Newbridge Financial Services Group Inc. now owns 1,178 shares of the company’s stock valued at $48,000 after acquiring an additional 328 shares in the last quarter. Institutional investors own 58.51% of the company’s stock.
Wheaton Precious Metals Stock Down 1.7 %
NYSE WPM traded down $0.84 during trading on Friday, hitting $47.20. 1,675,684 shares of the stock traded hands, compared to its average volume of 1,523,396. The company has a market capitalization of $21.38 billion, a P/E ratio of 39.66, a price-to-earnings-growth ratio of 9.40 and a beta of 0.80. Wheaton Precious Metals Corp. has a 12-month low of $38.37 and a 12-month high of $52.76. The firm has a 50-day simple moving average of $48.14 and a 200-day simple moving average of $44.87.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last issued its quarterly earnings results on Thursday, November 9th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. Wheaton Precious Metals had a return on equity of 6.94% and a net margin of 57.03%. The firm had revenue of $223.14 million during the quarter, compared to analyst estimates of $241.33 million. As a group, research analysts predict that Wheaton Precious Metals Corp. will post 1.11 EPS for the current fiscal year.
Wheaton Precious Metals Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Tuesday, November 28th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date was Monday, November 27th. Wheaton Precious Metals’s dividend payout ratio is currently 50.42%.
Analyst Upgrades and Downgrades
A number of research firms have commented on WPM. Berenberg Bank cut their target price on shares of Wheaton Precious Metals from $61.00 to $58.00 and set a “buy” rating for the company in a research report on Wednesday, October 11th. Raymond James lifted their target price on shares of Wheaton Precious Metals from $57.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, January 12th. BMO Capital Markets cut their target price on shares of Wheaton Precious Metals from $58.00 to $57.00 and set an “outperform” rating for the company in a research report on Friday, November 10th. Finally, TheStreet cut Wheaton Precious Metals from a “b-” rating to a “c+” rating in a research report on Friday, November 10th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.13.
Check Out Our Latest Stock Report on Wheaton Precious Metals
Wheaton Precious Metals Company Profile
Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 10, 2017. Wheaton Precious Metals Corp.
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