Raymond James Financial Inc. Purchases Shares of 369,673 Wheaton Precious Metals Corp. (NYSE:WPM)

Raymond James Financial Inc. purchased a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 369,673 shares of the company's stock, valued at approximately $20,790,000. Raymond James Financial Inc. owned about 0.08% of Wheaton Precious Metals at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of WPM. Versant Capital Management Inc bought a new stake in Wheaton Precious Metals in the fourth quarter valued at approximately $29,000. Promus Capital LLC bought a new stake in Wheaton Precious Metals in the fourth quarter valued at approximately $32,000. Laurel Wealth Advisors LLC bought a new stake in Wheaton Precious Metals in the fourth quarter valued at approximately $39,000. Quintet Private Bank Europe S.A. bought a new stake in Wheaton Precious Metals in the fourth quarter valued at approximately $39,000. Finally, GAMMA Investing LLC bought a new stake in Wheaton Precious Metals in the fourth quarter valued at approximately $41,000. 70.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WPM has been the subject of several recent analyst reports. Scotiabank upped their target price on shares of Wheaton Precious Metals from $78.00 to $79.00 and gave the company a "sector outperform" rating in a research note on Monday. Stifel Canada raised shares of Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $72.44.

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Wheaton Precious Metals Stock Down 0.8 %

WPM traded down $0.59 during trading hours on Thursday, hitting $75.58. 1,298,352 shares of the company's stock were exchanged, compared to its average volume of 1,577,858. Wheaton Precious Metals Corp. has a 1-year low of $43.18 and a 1-year high of $77.93. The stock's 50-day moving average is $65.86 and its two-hundred day moving average is $62.99. The stock has a market cap of $34.29 billion, a price-to-earnings ratio of 56.41, a PEG ratio of 1.91 and a beta of 0.76.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its earnings results on Thursday, March 13th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The business had revenue of $380.52 million for the quarter, compared to analyst estimates of $395.74 million. During the same quarter in the previous year, the company posted $0.36 EPS. The business's revenue for the quarter was up 21.4% compared to the same quarter last year. On average, equities research analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.165 per share. This is a boost from Wheaton Precious Metals's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.66 annualized dividend and a yield of 0.87%. Wheaton Precious Metals's dividend payout ratio is presently 49.25%.

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 2017. Wheaton Precious Metals Corp.