Fifth Third Bancorp boosted its stake in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 230.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 863 shares of the company’s stock after acquiring an additional 602 shares during the period. Fifth Third Bancorp’s holdings in Wheaton Precious Metals were worth $43,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parsons Capital Management Inc. RI grew its holdings in shares of Wheaton Precious Metals by 0.4% in the 3rd quarter. Parsons Capital Management Inc. RI now owns 57,361 shares of the company’s stock worth $2,326,000 after acquiring an additional 250 shares during the period. Transatlantique Private Wealth LLC lifted its stake in shares of Wheaton Precious Metals by 3.6% during the 3rd quarter. Transatlantique Private Wealth LLC now owns 7,808 shares of the company’s stock worth $317,000 after purchasing an additional 270 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in shares of Wheaton Precious Metals by 54.7% during the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 792 shares of the company’s stock worth $31,000 after buying an additional 280 shares during the last quarter. Prospera Financial Services Inc increased its holdings in shares of Wheaton Precious Metals by 2.0% during the 1st quarter. Prospera Financial Services Inc now owns 15,419 shares of the company’s stock worth $743,000 after buying an additional 299 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. increased its holdings in shares of Wheaton Precious Metals by 2.1% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 14,691 shares of the company’s stock worth $596,000 after buying an additional 302 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the company. Raymond James lowered their price target 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 initiated coverage on shares of Wheaton Precious Metals in a research report on Thursday, February 29th. They set a “buy” rating and a $49.00 price target on the stock. National Bank Financial cut shares of Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, February 21st. Berenberg Bank raised their target price on shares of Wheaton Precious Metals from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Finally, CIBC raised their target price on shares of Wheaton Precious Metals from $66.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.63.
Get Our Latest Stock Analysis on WPM
Wheaton Precious Metals Price Performance
NYSE WPM opened at $52.62 on Friday. The firm has a market capitalization of $23.84 billion, a PE ratio of 44.22, a P/E/G ratio of 13.00 and a beta of 0.77. Wheaton Precious Metals Corp. has a 12 month low of $38.37 and a 12 month high of $53.02. The company’s 50 day simple moving average is $45.19 and its 200 day simple moving average is $45.49.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last posted its quarterly earnings results on Thursday, March 14th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $313.47 million for the quarter, compared to analyst estimates of $284.29 million. Sell-side 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 company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Wednesday, April 3rd will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Tuesday, April 2nd. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.15. Wheaton Precious Metals’s dividend payout ratio (DPR) is 52.10%.
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 2017. Wheaton Precious Metals Corp.
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