Public Sector Pension Investment Board lessened its holdings in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 5.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 63,056 shares of the company’s stock after selling 3,482 shares during the quarter. Public Sector Pension Investment Board’s holdings in Wheaton Precious Metals were worth $2,571,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Sprott Inc. boosted its holdings in Wheaton Precious Metals by 4.8% in the third quarter. Sprott Inc. now owns 799,533 shares of the company’s stock worth $32,421,000 after acquiring an additional 36,654 shares in the last quarter. Douglas Lane & Associates LLC boosted its holdings 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 worth $12,608,000 after acquiring an additional 202,539 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Wheaton Precious Metals by 18.3% in the third quarter. Mackenzie Financial Corp now owns 3,411,151 shares of the company’s stock worth $133,849,000 after acquiring an additional 527,358 shares in the last quarter. Gabelli Funds LLC boosted its holdings in Wheaton Precious Metals by 1.6% in the third quarter. Gabelli Funds LLC now owns 1,171,495 shares of the company’s stock worth $47,504,000 after acquiring an additional 18,100 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Wheaton Precious Metals by 0.4% in the third quarter. Invesco Ltd. now owns 1,745,268 shares of the company’s stock worth $70,771,000 after purchasing an additional 7,575 shares during the last quarter. Institutional investors and hedge funds own 58.51% of the company’s stock.
Wheaton Precious Metals Trading Down 1.3 %
Shares of WPM opened at $44.42 on Monday. Wheaton Precious Metals Corp. has a 12 month low of $38.37 and a 12 month high of $52.76. The stock’s 50 day moving average is $45.01 and its two-hundred day moving average is $44.91. The firm has a market cap of $20.13 billion, a P/E ratio of 37.33, a PEG ratio of 9.67 and a beta of 0.76.
Wheaton Precious Metals Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Wednesday, April 3rd will be issued a $0.155 dividend. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.15. This represents a $0.62 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Tuesday, April 2nd. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 52.10%.
Analysts Set New Price Targets
Several brokerages have recently issued reports on WPM. National Bank Financial cut Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, February 21st. Berenberg Bank reduced their price objective on Wheaton Precious Metals from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. 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 price objective for the company. BMO Capital Markets reduced their price objective on Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating for the company in a research note on Wednesday, February 21st. Finally, 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. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Wheaton Precious Metals has an average rating of “Hold” and an average target price of $60.50.
Read Our Latest Stock Report on Wheaton Precious Metals
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 10, 2017. Wheaton Precious Metals Corp.
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