FIL Ltd Acquires 550,804 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

FIL Ltd grew its holdings in Wheaton Precious Metals Corp. (NYSE:WPMFree Report) by 5.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,646,479 shares of the company’s stock after purchasing an additional 550,804 shares during the quarter. FIL Ltd owned approximately 2.35% of Wheaton Precious Metals worth $525,235,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of WPM. Norges Bank bought a new position in Wheaton Precious Metals during the 4th quarter worth approximately $387,481,000. Van ECK Associates Corp boosted its stake in Wheaton Precious Metals by 9.9% during the 4th quarter. Van ECK Associates Corp now owns 20,521,065 shares of the company’s stock worth $1,012,517,000 after acquiring an additional 1,856,031 shares during the last quarter. Montrusco Bolton Investments Inc. boosted its stake in Wheaton Precious Metals by 426.7% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 957,339 shares of the company’s stock worth $47,460,000 after acquiring an additional 775,588 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Wheaton Precious Metals by 27.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,190,190 shares of the company’s stock worth $157,587,000 after acquiring an additional 694,583 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Wheaton Precious Metals by 22.1% in the third quarter. JPMorgan Chase & Co. now owns 2,586,800 shares of the company’s stock valued at $104,895,000 after buying an additional 468,782 shares in the last quarter. Institutional investors own 70.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WPM. National Bank Financial lowered shares of Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, February 21st. Jefferies Financial Group lifted their price target on shares of Wheaton Precious Metals from $52.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. CIBC lifted their price target on shares of Wheaton Precious Metals from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, May 22nd. Scotiabank lifted their price target on shares of Wheaton Precious Metals from $59.00 to $66.50 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Finally, BMO Capital Markets lifted their price target on shares of Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $61.33.

Check Out Our Latest Stock Report on Wheaton Precious Metals

Wheaton Precious Metals Stock Performance

WPM traded up $0.05 during trading on Friday, reaching $52.93. 963,562 shares of the stock were exchanged, compared to its average volume of 1,978,756. The stock has a market cap of $23.99 billion, a P/E ratio of 40.67, a price-to-earnings-growth ratio of 1.93 and a beta of 0.78. Wheaton Precious Metals Corp. has a twelve month low of $38.37 and a twelve month high of $57.87. The stock’s 50 day moving average price is $53.93 and its two-hundred day moving average price is $49.03.

Wheaton Precious Metals (NYSE:WPMGet Free Report) last issued its earnings results on Thursday, May 9th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The business had revenue of $296.80 million for the quarter, compared to the consensus estimate of $278.95 million. Wheaton Precious Metals had a net margin of 53.74% and a return on equity of 8.53%. The firm’s revenue for the quarter was up 38.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.23 earnings per share. Equities research analysts predict that Wheaton Precious Metals Corp. will post 1.29 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Wednesday, May 29th were issued a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $0.62 dividend on an annualized basis and a yield of 1.17%. Wheaton Precious Metals’s payout ratio is 47.69%.

About Wheaton Precious Metals

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Wheaton Precious Metals (NYSE:WPM)

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.