Envestnet Asset Management Inc. increased its holdings in Wheaton Precious Metals Corp. (NYSE:WPM – Get Rating) by 6.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,523 shares of the company’s stock after acquiring an additional 2,772 shares during the period. Envestnet Asset Management Inc.’s holdings in Wheaton Precious Metals were worth $1,701,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in WPM. National Bank of Canada FI raised its holdings in shares of Wheaton Precious Metals by 1,385.9% in the 4th quarter. National Bank of Canada FI now owns 3,151,317 shares of the company’s stock worth $123,107,000 after acquiring an additional 2,939,229 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Wheaton Precious Metals by 245.5% in the 1st quarter. BlackRock Inc. now owns 2,530,486 shares of the company’s stock worth $120,401,000 after acquiring an additional 1,798,086 shares during the last quarter. AMF Tjanstepension AB grew its position in Wheaton Precious Metals by 80.2% in the 4th quarter. AMF Tjanstepension AB now owns 3,338,218 shares of the company’s stock worth $130,365,000 after purchasing an additional 1,486,006 shares in the last quarter. Balyasny Asset Management LLC bought a new stake in Wheaton Precious Metals in the 3rd quarter worth about $33,985,000. Finally, Renaissance Technologies LLC grew its position in shares of Wheaton Precious Metals by 41.7% during the 1st quarter. Renaissance Technologies LLC now owns 2,787,718 shares of the company’s stock valued at $132,641,000 after acquiring an additional 821,061 shares during the period. Institutional investors and hedge funds own 57.01% of the company’s stock.
Wall Street Analyst Weigh In
WPM has been the subject of several analyst reports. Scotiabank initiated coverage on shares of Wheaton Precious Metals in a report on Wednesday, April 12th. They issued a “sector outperform” rating and a $60.00 price objective for the company. National Bank Financial lowered their price target on shares of Wheaton Precious Metals from C$70.00 to C$68.00 in a research note on Tuesday, February 14th. Barclays boosted their price target on shares of Wheaton Precious Metals from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Friday, April 21st. BMO Capital Markets lowered their price target on shares of Wheaton Precious Metals from $52.00 to $51.00 and set an “outperform” rating for the company in a research note on Friday, March 10th. Finally, Raymond James boosted their price objective on shares of Wheaton Precious Metals from $51.00 to $54.00 and gave the company an “outperform” rating in a research report on Tuesday, April 25th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.33.
Wheaton Precious Metals Price Performance
Wheaton Precious Metals (NYSE:WPM – Get Rating) last announced its quarterly earnings data on Friday, May 5th. The company reported $0.23 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.23. The firm had revenue of $214.00 million during the quarter, compared to analysts’ expectations of $237.87 million. Wheaton Precious Metals had a net margin of 64.08% and a return on equity of 6.81%. The company’s revenue for the quarter was down 30.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.35 earnings per share. On average, research analysts expect that Wheaton Precious Metals Corp. will post 1.17 EPS for the current year.
Wheaton Precious Metals Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 2nd. Investors of record on Friday, May 19th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, May 18th. This represents a $0.60 annualized dividend and a yield of 1.25%. Wheaton Precious Metals’s payout ratio is 43.48%.
Wheaton Precious Metals Profile
Wheaton Precious Metals Corp. is a mining company engages in the sale of precious metals and cobalt production. It operates through the following business segments: Gold, Silver, Palladium, Cobalt, and Other. The company was founded by Peter Derek Barnes on December 17, 2004 and is headquartered in Vancouver, Canada.
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