Wellington Management Group LLP Grows Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Wellington Management Group LLP increased its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 98.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,667 shares of the company’s stock after buying an additional 35,616 shares during the quarter. Wellington Management Group LLP’s holdings in Wheaton Precious Metals were worth $2,922,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Wheaton Precious Metals in the fourth quarter valued at about $243,010,000. BlackRock Inc. raised its position in Wheaton Precious Metals by 245.5% during the 1st quarter. BlackRock Inc. now owns 2,530,486 shares of the company’s stock valued at $120,401,000 after purchasing an additional 1,798,086 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Wheaton Precious Metals by 41.7% in the 1st quarter. Renaissance Technologies LLC now owns 2,787,718 shares of the company’s stock worth $132,641,000 after buying an additional 821,061 shares during the period. Neuberger Berman Group LLC grew its position in shares of Wheaton Precious Metals by 665.2% in the 1st quarter. Neuberger Berman Group LLC now owns 888,189 shares of the company’s stock worth $42,304,000 after buying an additional 772,118 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Wheaton Precious Metals by 99.9% during the second quarter. Goldman Sachs Group Inc. now owns 1,498,894 shares of the company’s stock valued at $54,006,000 after buying an additional 749,011 shares during the period. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WPM has been the subject of a number of research analyst reports. National Bank Financial lowered Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, February 21st. CIBC raised their target price on shares of Wheaton Precious Metals from $66.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Jefferies Financial Group initiated coverage on shares of Wheaton Precious Metals in a research report on Thursday, February 29th. They set a “buy” rating and a $49.00 price target on the stock. BMO Capital Markets decreased their price target on shares of Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating for the company in a research note on Wednesday, February 21st. Finally, TD Securities raised Wheaton Precious Metals from a “hold” rating to a “buy” rating and lifted their price objective for the company from $51.00 to $53.00 in a research report on Monday, March 18th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.81.

Wheaton Precious Metals Stock Up 3.7 %

Wheaton Precious Metals stock opened at $46.29 on Thursday. Wheaton Precious Metals Corp. has a twelve month low of $38.37 and a twelve month high of $52.76. The company has a market capitalization of $20.97 billion, a P/E ratio of 38.90, a PEG ratio of 11.66 and a beta of 0.76. The stock’s 50 day moving average is $44.54 and its 200 day moving average is $45.03.

Wheaton Precious Metals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Wednesday, April 3rd will be paid a $0.155 dividend. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.15. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Tuesday, April 2nd. Wheaton Precious Metals’s dividend payout ratio is currently 50.42%.

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 10, 2017. Wheaton Precious Metals Corp.