Moors & Cabot Inc. Raises Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Moors & Cabot Inc. boosted its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 2.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,705 shares of the company’s stock after purchasing an additional 1,070 shares during the period. Moors & Cabot Inc.’s holdings in Wheaton Precious Metals were worth $2,019,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in WPM. FMR LLC boosted its stake in shares of Wheaton Precious Metals by 35.9% in the first quarter. FMR LLC now owns 19,591,924 shares of the company’s stock worth $943,573,000 after buying an additional 5,171,114 shares during the last quarter. Vanguard Group Inc. boosted its position in Wheaton Precious Metals by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 15,310,279 shares of the company’s stock worth $495,440,000 after purchasing an additional 485,237 shares in the last quarter. FIL Ltd grew its stake in shares of Wheaton Precious Metals by 30.0% during the 1st quarter. FIL Ltd now owns 6,774,555 shares of the company’s stock worth $326,271,000 after purchasing an additional 1,565,300 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Wheaton Precious Metals by 6.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,344,956 shares of the company’s stock valued at $301,893,000 after purchasing an additional 361,138 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Wheaton Precious Metals in the 4th quarter valued at $243,010,000. 58.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WPM has been the topic of several analyst reports. National Bank Financial dropped their price target on shares of Wheaton Precious Metals from C$75.00 to C$72.50 in a research report on Monday, September 25th. TheStreet cut Wheaton Precious Metals from a “b-” rating to a “c+” rating in a research report on Friday, November 10th. BMO Capital Markets cut 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. Berenberg Bank lowered their price target on Wheaton Precious Metals from $61.00 to $58.00 and set a “buy” rating on the stock in a research report on Wednesday, October 11th. Finally, StockNews.com began coverage on Wheaton Precious Metals in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Four research 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, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and an average price target of $60.73.

Wheaton Precious Metals Stock Performance

Shares of WPM traded up $0.95 during trading hours on Thursday, hitting $45.54. 339,826 shares of the stock were exchanged, compared to its average volume of 1,957,074. The stock’s 50-day moving average price is $42.49 and its two-hundred day moving average price is $44.02. Wheaton Precious Metals Corp. has a 12-month low of $36.14 and a 12-month high of $52.76. The company has a market cap of $20.63 billion, a price-to-earnings ratio of 37.46, a price-to-earnings-growth ratio of 3.02 and a beta of 0.59.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Tuesday, November 28th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, November 27th. This represents a $0.60 dividend on an annualized basis and a yield of 1.32%. Wheaton Precious Metals’s payout ratio is presently 50.42%.

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.