Mackenzie Financial Corp increased its stake in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 18.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,411,151 shares of the company’s stock after buying an additional 527,358 shares during the period. Mackenzie Financial Corp owned 0.75% of Wheaton Precious Metals worth $133,849,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. Crossmark Global Holdings Inc. increased its stake in shares of Wheaton Precious Metals by 1.0% during the second quarter. Crossmark Global Holdings Inc. now owns 48,176 shares of the company’s stock valued at $2,120,000 after purchasing an additional 499 shares in the last quarter. Vontobel Holding Ltd. increased its stake in shares of Wheaton Precious Metals by 4.7% during the second quarter. Vontobel Holding Ltd. now owns 41,238 shares of the company’s stock valued at $1,783,000 after purchasing an additional 1,868 shares in the last quarter. Douglas Lane & Associates LLC increased its stake in shares of Wheaton Precious Metals by 186.9% during the third quarter. Douglas Lane & Associates LLC now owns 310,914 shares of the company’s stock valued at $12,608,000 after purchasing an additional 202,539 shares in the last quarter. Allworth Financial LP increased its stake in shares of Wheaton Precious Metals by 92.4% during the second quarter. Allworth Financial LP now owns 1,258 shares of the company’s stock valued at $54,000 after purchasing an additional 604 shares in the last quarter. Finally, PFG Investments LLC increased its stake in shares of Wheaton Precious Metals by 16.4% during the second quarter. PFG Investments LLC now owns 7,351 shares of the company’s stock valued at $318,000 after purchasing an additional 1,036 shares in the last quarter. 58.51% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the stock. Raymond James raised their target price on shares of Wheaton Precious Metals from $56.00 to $57.00 and gave the company an “outperform” rating in a research note on Friday, November 17th. StockNews.com began coverage on shares of Wheaton Precious Metals in a report on Thursday, October 5th. They set a “hold” rating on the stock. BMO Capital Markets cut their price target on shares of Wheaton Precious Metals from $58.00 to $57.00 and set an “outperform” rating on the stock in a report on Friday, November 10th. Berenberg Bank cut their price target on shares of Wheaton Precious Metals from $61.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, October 11th. Finally, National Bank Financial cut their price target on shares of Wheaton Precious Metals from C$75.00 to C$72.50 in a report on Monday, September 25th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and a consensus price target of $61.88.
Wheaton Precious Metals Trading Down 0.7 %
Shares of WPM stock opened at $47.62 on Friday. Wheaton Precious Metals Corp. has a 12-month low of $38.37 and a 12-month high of $52.76. The firm’s 50 day moving average is $47.09 and its 200 day moving average is $44.30. The stock has a market capitalization of $21.57 billion, a P/E ratio of 40.02, a P/E/G ratio of 9.61 and a beta of 0.81.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last issued its earnings results on Thursday, November 9th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.02. Wheaton Precious Metals had a net margin of 57.03% and a return on equity of 6.94%. The company had revenue of $223.14 million for the quarter, compared to analysts’ expectations of $241.33 million. As a group, equities analysts predict that Wheaton Precious Metals Corp. will post 1.1 earnings per share for the current year.
Wheaton Precious Metals Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Tuesday, November 28th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend was Monday, November 27th. Wheaton Precious Metals’s dividend payout ratio is presently 50.42%.
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 10, 2017. Wheaton Precious Metals Corp.
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