Envestnet Asset Management Inc. grew its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM – Get Rating) by 15.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,553 shares of the company’s stock after buying an additional 5,563 shares during the period. Envestnet Asset Management Inc.’s holdings in Wheaton Precious Metals were worth $1,533,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of WPM. BlackRock Inc. increased its position in Wheaton Precious Metals by 245.5% during the first quarter. BlackRock Inc. now owns 2,530,486 shares of the company’s stock worth $120,401,000 after buying an additional 1,798,086 shares in the last quarter. Bowen Hanes & Co. Inc. grew its position in shares of Wheaton Precious Metals by 2,044.8% in the first quarter. Bowen Hanes & Co. Inc. now owns 869,620 shares of the company’s stock valued at $41,377,000 after purchasing an additional 829,075 shares during the period. Renaissance Technologies LLC grew its position in shares of Wheaton Precious Metals by 41.7% in the first quarter. Renaissance Technologies LLC now owns 2,787,718 shares of the company’s stock valued at $132,641,000 after purchasing an additional 821,061 shares during the period. Capital World Investors grew its position in shares of Wheaton Precious Metals by 4.0% in the first quarter. Capital World Investors now owns 20,592,926 shares of the company’s stock valued at $979,811,000 after purchasing an additional 783,194 shares during the period. Finally, Aaron Wealth Advisors LLC grew its position in shares of Wheaton Precious Metals by 4,658.0% in the first quarter. Aaron Wealth Advisors LLC now owns 792,492 shares of the company’s stock valued at $16,656,000 after purchasing an additional 775,836 shares during the period. Hedge funds and other institutional investors own 56.62% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on WPM. Canaccord Genuity Group lowered their price objective on Wheaton Precious Metals from C$68.00 to C$67.00 in a research report on Friday, August 19th. TheStreet downgraded Wheaton Precious Metals from a “b” rating to a “c+” rating in a research report on Friday, September 23rd. Raymond James lowered their price objective on Wheaton Precious Metals from $54.00 to $52.00 and set an “outperform” rating for the company in a research report on Monday, August 15th. StockNews.com started coverage on Wheaton Precious Metals in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Barclays reduced their target price on Wheaton Precious Metals from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, October 17th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.43.
Wheaton Precious Metals Trading Up 1.4 %
Wheaton Precious Metals (NYSE:WPM – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The company had revenue of $218.84 million for the quarter, compared to analyst estimates of $237.90 million. Wheaton Precious Metals had a return on equity of 8.35% and a net margin of 71.79%. As a group, sell-side analysts predict that Wheaton Precious Metals Corp. will post 1.19 EPS for the current year.
Wheaton Precious Metals Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 21st will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Friday, November 18th. Wheaton Precious Metals’s dividend payout ratio is presently 34.09%.
About Wheaton Precious Metals
Wheaton Precious Metals Corp., a streaming company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has a portfolio of interests in the 23 operating mines and 13 development projects. The company was formerly known as Silver Wheaton Corp.
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