International Assets Investment Management LLC raised its position in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 4,659.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 326,040 shares of the company’s stock after buying an additional 319,190 shares during the quarter. International Assets Investment Management LLC’s holdings in Wheaton Precious Metals were worth $16,087,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. CVA Family Office LLC acquired a new position in Wheaton Precious Metals during the 4th quarter valued at about $26,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Wheaton Precious Metals during the 4th quarter valued at $31,000. Atlas Capital Advisors LLC bought a new stake in shares of Wheaton Precious Metals during the 4th quarter valued at $29,000. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in shares of Wheaton Precious Metals by 54.7% in the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 792 shares of the company’s stock valued at $31,000 after purchasing an additional 280 shares during the period. Finally, Fifth Third Bancorp boosted its position in shares of Wheaton Precious Metals by 230.7% in the 4th quarter. Fifth Third Bancorp now owns 863 shares of the company’s stock worth $43,000 after purchasing an additional 602 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.
Wheaton Precious Metals Stock Up 2.6 %
NYSE:WPM opened at $52.62 on Friday. Wheaton Precious Metals Corp. has a twelve month low of $38.37 and a twelve month high of $53.02. The company has a market cap of $23.84 billion, a P/E ratio of 44.22, a price-to-earnings-growth ratio of 13.00 and a beta of 0.77. The business has a 50 day moving average price of $45.19 and a two-hundred day moving average price of $45.49.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last released its earnings results on Thursday, March 14th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. Wheaton Precious Metals had a net margin of 52.92% and a return on equity of 7.76%. The business had revenue of $313.47 million during the quarter, compared to the consensus estimate of $284.29 million. As a group, analysts anticipate that Wheaton Precious Metals Corp. will post 1.21 earnings per share for the current fiscal year.
Wheaton Precious Metals Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Wednesday, April 3rd will be given a $0.155 dividend. The ex-dividend date is Tuesday, April 2nd. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.18%. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.15. Wheaton Precious Metals’s payout ratio is currently 52.10%.
Analysts Set New Price Targets
WPM has been the topic of several analyst reports. Jefferies Financial Group began coverage on Wheaton Precious Metals in a research note on Thursday, February 29th. They issued a “buy” rating and a $49.00 target price on the stock. TD Securities upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating and increased their price target for the company from $51.00 to $53.00 in a research report on Monday, March 18th. BMO Capital Markets decreased their price objective on shares of Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating for the company in a report on Wednesday, February 21st. Raymond James cut their target price on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating on the stock in a report on Thursday, February 22nd. Finally, Scotiabank decreased their price target on shares of Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating for the company in a report on Wednesday, February 28th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.63.
Check Out Our Latest Analysis on Wheaton Precious Metals
About Wheaton Precious Metals
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 2017. Wheaton Precious Metals Corp.
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