Wheaton Precious Metals Corp. (NYSE:WPM) Shares Bought by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. raised its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 855.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,914 shares of the company’s stock after purchasing an additional 5,295 shares during the period. Cullen Frost Bankers Inc.’s holdings in Wheaton Precious Metals were worth $459,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of WPM. Norges Bank acquired a new position in Wheaton Precious Metals in the 4th quarter valued at $472,648,000. Capital International Investors acquired a new stake in Wheaton Precious Metals during the 4th quarter worth $263,810,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Wheaton Precious Metals during the fourth quarter worth $72,657,000. Mackenzie Financial Corp raised its position in shares of Wheaton Precious Metals by 54.4% in the fourth quarter. Mackenzie Financial Corp now owns 3,223,154 shares of the company’s stock valued at $181,227,000 after buying an additional 1,135,699 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Wheaton Precious Metals by 1,321.7% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,221,522 shares of the company’s stock worth $68,720,000 after buying an additional 1,135,603 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Trading Down 0.8%

Shares of Wheaton Precious Metals stock opened at $88.30 on Friday. Wheaton Precious Metals Corp. has a twelve month low of $53.05 and a twelve month high of $95.23. The stock has a market capitalization of $40.08 billion, a price-to-earnings ratio of 64.93, a PEG ratio of 2.55 and a beta of 0.46. The business’s 50 day simple moving average is $87.93 and its 200-day simple moving average is $76.76.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. The business had revenue of $470.41 million during the quarter, compared to analyst estimates of $446.33 million. Wheaton Precious Metals had a return on equity of 10.32% and a net margin of 42.45%. The business’s revenue for the quarter was up 58.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.36 EPS. Sell-side analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Wednesday, May 28th. Wheaton Precious Metals’s payout ratio is 48.53%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. CIBC reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Tuesday. National Bankshares reissued an “outperform” rating on shares of Wheaton Precious Metals in a research report on Tuesday, June 24th. UBS Group upped their price objective on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the company a “buy” rating in a report on Friday, April 11th. Royal Bank Of Canada lifted their target price on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a “sector perform” rating in a research note on Wednesday, June 4th. Finally, BMO Capital Markets started coverage on shares of Wheaton Precious Metals in a report on Wednesday, April 16th. They issued an “outperform” rating and a $129.00 target price on the stock. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wheaton Precious Metals currently has an average rating of “Buy” and an average price target of $93.00.

Wheaton Precious Metals 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.