Pinnacle Associates Ltd. purchased a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,200 shares of the company’s stock, valued at approximately $207,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. CVA Family Office LLC bought a new position in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $26,000. Atlas Capital Advisors LLC bought a new position in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $29,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $31,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its holdings 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. Finally, Mechanics Financial Corp raised its holdings 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. Hedge funds and other institutional investors own 70.34% of the company’s stock.
Wheaton Precious Metals Trading Down 2.1 %
NYSE WPM opened at $50.03 on Friday. Wheaton Precious Metals Corp. has a 12 month low of $38.37 and a 12 month high of $52.76. The stock has a market cap of $22.67 billion, a P/E ratio of 42.04, a P/E/G ratio of 12.77 and a beta of 0.77. The stock’s fifty day moving average price is $44.81 and its 200-day moving average price is $45.24.
Wheaton Precious Metals Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Wednesday, April 3rd will be paid a $0.155 dividend. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.15. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Tuesday, April 2nd. Wheaton Precious Metals’s dividend payout ratio is currently 52.10%.
Analyst Ratings Changes
A number of equities analysts recently commented on the company. Berenberg Bank upped their target price on Wheaton Precious Metals from $52.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, March 27th. Raymond James decreased their price objective on Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating for the company in a report on Thursday, February 22nd. Jefferies Financial Group began coverage on Wheaton Precious Metals in a report on Thursday, February 29th. They issued a “buy” rating and a $49.00 price objective for the company. CIBC increased their price objective on Wheaton Precious Metals from $66.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Finally, National Bank Financial downgraded Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, February 21st. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.63.
View Our Latest Stock Report on WPM
Wheaton Precious Metals 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.
Featured Articles
Want to see what other hedge funds are holding WPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wheaton Precious Metals Corp. (NYSE:WPM – Free Report).
Receive News & Ratings for Wheaton Precious Metals Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Wheaton Precious Metals and related companies with MarketBeat.com’s FREE daily email newsletter.