Vanguard Group Inc. raised its position in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,203,069 shares of the company’s stock after acquiring an additional 248,541 shares during the quarter. Vanguard Group Inc. owned 3.58% of Wheaton Precious Metals worth $657,034,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Sprott Inc. grew its position in Wheaton Precious Metals by 4.8% in the third quarter. Sprott Inc. now owns 799,533 shares of the company’s stock valued at $32,421,000 after acquiring an additional 36,654 shares in the last quarter. Deutsche Bank AG grew its position in Wheaton Precious Metals by 4.4% in the third quarter. Deutsche Bank AG now owns 3,623,133 shares of the company’s stock valued at $146,918,000 after acquiring an additional 152,826 shares in the last quarter. Douglas Lane & Associates LLC grew its position in Wheaton Precious Metals by 186.9% in the third quarter. Douglas Lane & Associates LLC now owns 310,914 shares of the company’s stock valued at $12,608,000 after acquiring an additional 202,539 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Wheaton Precious Metals by 18.3% during the 3rd quarter. Mackenzie Financial Corp now owns 3,411,151 shares of the company’s stock valued at $133,849,000 after buying an additional 527,358 shares during the last quarter. Finally, Gabelli Funds LLC boosted its stake in shares of Wheaton Precious Metals by 1.6% during the 3rd quarter. Gabelli Funds LLC now owns 1,171,495 shares of the company’s stock valued at $47,504,000 after buying an additional 18,100 shares during the last quarter. Institutional investors and hedge funds own 58.51% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the company. TD Securities upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating and increased their target price for the company from $51.00 to $53.00 in a research note on Monday. Berenberg Bank reduced their price objective on Wheaton Precious Metals from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. BMO Capital Markets reduced their price objective on Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. CIBC raised their price objective on Wheaton Precious Metals from $66.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Finally, Scotiabank reduced their price objective on Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, February 28th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and an average price target of $60.65.
Get Our Latest Analysis on WPM
Wheaton Precious Metals Price Performance
Shares of WPM traded down $0.05 during trading hours on Friday, reaching $45.34. 72,548 shares of the company’s stock traded hands, compared to its average volume of 2,061,495. The firm has a market capitalization of $20.54 billion, a price-to-earnings ratio of 38.15, a P/E/G ratio of 11.68 and a beta of 0.76. Wheaton Precious Metals Corp. has a twelve month low of $38.37 and a twelve month high of $52.76. The business’s fifty day simple moving average is $44.74 and its two-hundred day simple moving average is $44.92.
Wheaton Precious Metals Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Wednesday, April 3rd will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.37%. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, April 2nd. Wheaton Precious Metals’s dividend payout ratio (DPR) is 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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