Avanza Fonder AB Takes $2.46 Million Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Avanza Fonder AB purchased a new stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 43,654 shares of the company's stock, valued at approximately $2,455,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its stake in Wheaton Precious Metals by 7.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 56,849 shares of the company's stock worth $2,980,000 after buying an additional 4,098 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Wheaton Precious Metals by 4.5% during the second quarter. Dimensional Fund Advisors LP now owns 569,011 shares of the company's stock worth $29,829,000 after acquiring an additional 24,428 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Wheaton Precious Metals by 9.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,374 shares of the company's stock valued at $792,000 after acquiring an additional 1,358 shares during the period. Intech Investment Management LLC purchased a new stake in Wheaton Precious Metals in the 2nd quarter valued at $214,000. Finally, Canada Pension Plan Investment Board boosted its stake in Wheaton Precious Metals by 19.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,860,608 shares of the company's stock worth $97,535,000 after purchasing an additional 300,000 shares during the period. Institutional investors and hedge funds own 70.34% of the company's stock.

Wheaton Precious Metals Trading Up 0.4 %

Shares of NYSE:WPM traded up $0.26 on Friday, reaching $57.74. 874,324 shares of the company were exchanged, compared to its average volume of 1,150,797. Wheaton Precious Metals Corp. has a 1-year low of $38.57 and a 1-year high of $68.64. The company has a 50-day moving average of $59.52 and a 200-day moving average of $60.50. The firm has a market cap of $26.19 billion, a price-to-earnings ratio of 43.09, a price-to-earnings-growth ratio of 1.28 and a beta of 0.76.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.34. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The company had revenue of $308.25 million during the quarter, compared to the consensus estimate of $324.57 million. During the same period last year, the firm earned $0.27 EPS. As a group, analysts forecast that Wheaton Precious Metals Corp. will post 1.45 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 21st were given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Thursday, November 21st. Wheaton Precious Metals's dividend payout ratio is currently 46.27%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. National Bank Financial upgraded shares of Wheaton Precious Metals from a "sector perform" rating to an "outperform" rating in a research note on Thursday, October 10th. Raymond James upped their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Jefferies Financial Group increased their price objective on Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a "buy" rating in a research report on Friday, October 4th. Stifel Canada cut Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 21st. Finally, TD Securities lifted their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, November 8th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $71.67.

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.