Bennbridge Ltd Takes $2.98 Million Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Bennbridge Ltd purchased a new stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 53,000 shares of the company's stock, valued at approximately $2,981,000. Wheaton Precious Metals makes up approximately 3.0% of Bennbridge Ltd's holdings, making the stock its 5th largest position.

Other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its holdings in shares of Wheaton Precious Metals by 62.4% in the fourth quarter. Farther Finance Advisors LLC now owns 2,964 shares of the company's stock valued at $167,000 after purchasing an additional 1,139 shares in the last quarter. AGF Management Ltd. lifted its holdings in shares of Wheaton Precious Metals by 7.0% in the fourth quarter. AGF Management Ltd. now owns 119,306 shares of the company's stock valued at $6,715,000 after purchasing an additional 7,840 shares in the last quarter. King Luther Capital Management Corp lifted its holdings in shares of Wheaton Precious Metals by 1.6% in the fourth quarter. King Luther Capital Management Corp now owns 1,525,617 shares of the company's stock valued at $85,801,000 after purchasing an additional 24,580 shares in the last quarter. Moran Wealth Management LLC lifted its holdings in shares of Wheaton Precious Metals by 39.2% in the fourth quarter. Moran Wealth Management LLC now owns 28,399 shares of the company's stock valued at $1,597,000 after purchasing an additional 7,991 shares in the last quarter. Finally, PCJ Investment Counsel Ltd. lifted its holdings in shares of Wheaton Precious Metals by 15.4% in the fourth quarter. PCJ Investment Counsel Ltd. now owns 36,260 shares of the company's stock valued at $2,038,000 after purchasing an additional 4,850 shares in the last quarter. Institutional investors own 70.34% of the company's stock.

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Analysts Set New Price Targets

WPM has been the subject of a number of research analyst reports. Stifel Canada upgraded Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. UBS Group assumed coverage on Wheaton Precious Metals in a report on Monday, November 18th. They set a "buy" rating and a $78.00 price objective for the company. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $71.67.

Wheaton Precious Metals Trading Up 1.5 %

Wheaton Precious Metals stock traded up $1.10 during mid-day trading on Friday, hitting $73.82. 2,502,491 shares of the company's stock were exchanged, compared to its average volume of 1,574,722. The stock has a market cap of $33.49 billion, a P/E ratio of 55.09, a P/E/G ratio of 1.91 and a beta of 0.77. Wheaton Precious Metals Corp. has a 1-year low of $43.18 and a 1-year high of $74.93. The stock has a 50 day moving average of $64.72 and a two-hundred day moving average of $62.69.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted 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). The business had revenue of $380.52 million for the quarter, compared to analyst estimates of $395.74 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The company's quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 earnings per share. As a group, research analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.89%. This is an increase from Wheaton Precious Metals's previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, April 1st. Wheaton Precious Metals's dividend payout ratio is presently 46.27%.

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.