Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 19.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 202,140 shares of the company’s stock after acquiring an additional 32,311 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Wheaton Precious Metals were worth $10,021,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WPM. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Wheaton Precious Metals by 6.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,344,956 shares of the company’s stock worth $301,893,000 after buying an additional 361,138 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Wheaton Precious Metals by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 481,497 shares of the company’s stock valued at $22,909,000 after purchasing an additional 4,497 shares during the last quarter. US Bancorp DE raised its stake in shares of Wheaton Precious Metals by 4.9% in the first quarter. US Bancorp DE now owns 11,778 shares of the company’s stock valued at $561,000 after acquiring an additional 551 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Wheaton Precious Metals by 21.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 20,122 shares of the company’s stock worth $957,000 after acquiring an additional 3,535 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Wheaton Precious Metals by 245.5% during the 1st quarter. BlackRock Inc. now owns 2,530,486 shares of the company’s stock worth $120,401,000 after purchasing an additional 1,798,086 shares during the period. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WPM has been the topic of a number of recent analyst reports. Raymond James reduced their target price on Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating on the stock in a research note on Thursday, February 22nd. BMO Capital Markets reduced their price target on shares of Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. Berenberg Bank boosted their price objective on shares of Wheaton Precious Metals from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, March 27th. Scotiabank dropped their target price on shares of Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, February 28th. Finally, TD Securities raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating and lifted their price target for the company from $51.00 to $53.00 in a research note on Monday, March 18th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $59.63.

Wheaton Precious Metals Stock Down 0.1 %

Wheaton Precious Metals stock opened at $52.65 on Friday. The firm has a market cap of $23.87 billion, a P/E ratio of 44.24, a P/E/G ratio of 7.23 and a beta of 0.77. Wheaton Precious Metals Corp. has a twelve month low of $38.37 and a twelve month high of $54.30. The business has a fifty day moving average of $45.86 and a two-hundred day moving average of $45.97.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, March 14th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. Wheaton Precious Metals had a net margin of 52.92% and a return on equity of 7.76%. The company had revenue of $313.47 million during the quarter, compared to analysts’ expectations of $284.29 million. Equities analysts expect that Wheaton Precious Metals Corp. will post 1.24 earnings per share for the current year.

Wheaton Precious Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Wednesday, April 3rd were given a $0.155 dividend. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.15. This represents a $0.62 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Tuesday, April 2nd. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 52.10%.

Wheaton Precious Metals Company 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 2017. Wheaton Precious Metals Corp.