Quadrant Capital Group LLC lowered its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 6.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,338 shares of the company’s stock after selling 490 shares during the quarter. Quadrant Capital Group LLC’s holdings in Wheaton Precious Metals were worth $317,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in WPM. Norges Bank purchased a new position in Wheaton Precious Metals during the fourth quarter valued at $243,010,000. FMR LLC lifted its position in Wheaton Precious Metals by 35.9% during the first quarter. FMR LLC now owns 19,591,924 shares of the company’s stock valued at $943,573,000 after buying an additional 5,171,114 shares during the period. BlackRock Inc. lifted 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 valued at $120,401,000 after buying an additional 1,798,086 shares during the period. FIL Ltd lifted its position in Wheaton Precious Metals by 30.0% during the first quarter. FIL Ltd now owns 6,774,555 shares of the company’s stock valued at $326,271,000 after buying an additional 1,565,300 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Wheaton Precious Metals by 41.7% during the first quarter. Renaissance Technologies LLC now owns 2,787,718 shares of the company’s stock valued at $132,641,000 after buying an additional 821,061 shares during the period. Hedge funds and other institutional investors own 58.51% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on WPM shares. National Bank Financial dropped their price target on shares of Wheaton Precious Metals from C$75.00 to C$72.50 in a research note on Monday, September 25th. Raymond James upped their price target on shares of Wheaton Precious Metals from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Friday. TheStreet cut shares of Wheaton Precious Metals from a “b-” rating to a “c+” rating in a research note on Friday, November 10th. BMO Capital Markets dropped their price target on shares of Wheaton Precious Metals from $58.00 to $57.00 and set an “outperform” rating on the stock in a research note on Friday, November 10th. Finally, StockNews.com started coverage on shares of Wheaton Precious Metals in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.88.
Wheaton Precious Metals Stock Down 0.3 %
NYSE WPM opened at $45.73 on Friday. Wheaton Precious Metals Corp. has a 52 week low of $36.22 and a 52 week high of $52.76. The firm has a market capitalization of $20.72 billion, a P/E ratio of 38.43, a PEG ratio of 3.19 and a beta of 0.59. The company has a 50-day moving average price of $42.65 and a 200-day moving average price of $43.96.
Wheaton Precious Metals Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Tuesday, November 28th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Monday, November 27th. Wheaton Precious Metals’s payout ratio is currently 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.
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