Van ECK Associates Corp reduced its position in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 2.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,665,034 shares of the company’s stock after selling 423,938 shares during the quarter. Wheaton Precious Metals makes up about 1.7% of Van ECK Associates Corp’s holdings, making the stock its 8th largest position. Van ECK Associates Corp owned about 4.12% of Wheaton Precious Metals worth $756,880,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of WPM. D.A. Davidson & CO. grew its position in shares of Wheaton Precious Metals by 457.5% in the third quarter. D.A. Davidson & CO. now owns 31,404 shares of the company’s stock valued at $1,273,000 after purchasing an additional 25,771 shares in the last quarter. Gabelli Funds LLC boosted its stake in Wheaton Precious Metals by 1.6% during the third 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 period. Hosking Partners LLP boosted its stake in Wheaton Precious Metals by 3.1% during the third quarter. Hosking Partners LLP now owns 178,727 shares of the company’s stock valued at $7,247,000 after buying an additional 5,421 shares during the period. Janney Montgomery Scott LLC boosted its stake in Wheaton Precious Metals by 1.5% during the third quarter. Janney Montgomery Scott LLC now owns 34,753 shares of the company’s stock valued at $1,409,000 after buying an additional 520 shares during the period. Finally, First Eagle Investment Management LLC boosted its stake in Wheaton Precious Metals by 3.2% during the third quarter. First Eagle Investment Management LLC now owns 20,998,263 shares of the company’s stock valued at $851,480,000 after buying an additional 644,746 shares during the period. 58.51% of the stock is owned by hedge funds and other institutional investors.
Wheaton Precious Metals Trading Up 0.6 %
Shares of NYSE:WPM traded up $0.28 on Tuesday, hitting $46.77. 240,548 shares of the company were exchanged, compared to its average volume of 1,581,911. Wheaton Precious Metals Corp. has a 1-year low of $38.37 and a 1-year high of $52.76. The stock’s 50 day moving average price is $48.12 and its 200 day moving average price is $44.89. The firm has a market capitalization of $21.19 billion, a P/E ratio of 39.07, a price-to-earnings-growth ratio of 9.40 and a beta of 0.80.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last announced its quarterly earnings data on Thursday, November 9th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.02. The company had revenue of $223.14 million during the quarter, compared to analysts’ expectations of $241.33 million. Wheaton Precious Metals had a net margin of 57.03% and a return on equity of 6.94%. On average, equities analysts predict that Wheaton Precious Metals Corp. will post 1.11 EPS for the current fiscal year.
Wheaton Precious Metals Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Tuesday, November 28th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Monday, November 27th. Wheaton Precious Metals’s dividend payout ratio (DPR) is 50.42%.
Analysts Set New Price Targets
Several research firms recently issued reports on WPM. TheStreet lowered Wheaton Precious Metals from a “b-” rating to a “c+” rating in a research note on Friday, November 10th. Berenberg Bank dropped their price objective on Wheaton Precious Metals from $61.00 to $58.00 and set a “buy” rating for the company in a research note on Wednesday, October 11th. Raymond James lifted their price target on Wheaton Precious Metals from $57.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, January 12th. Finally, BMO Capital Markets dropped their price target on Wheaton Precious Metals from $58.00 to $57.00 and set an “outperform” rating for the company in a research note on Friday, November 10th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.13.
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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