Bowen Hanes & Co. Inc. Sells 86,370 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Bowen Hanes & Co. Inc. lessened its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 11.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 653,645 shares of the company's stock after selling 86,370 shares during the quarter. Bowen Hanes & Co. Inc. owned approximately 0.14% of Wheaton Precious Metals worth $36,761,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC grew its stake in shares of Wheaton Precious Metals by 3.5% in the third quarter. Janney Montgomery Scott LLC now owns 37,639 shares of the company's stock worth $2,299,000 after purchasing an additional 1,273 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Wheaton Precious Metals by 1.0% in the third quarter. Principal Financial Group Inc. now owns 19,761 shares of the company's stock worth $1,208,000 after acquiring an additional 196 shares during the period. Apollon Wealth Management LLC lifted its stake in shares of Wheaton Precious Metals by 47.7% in the third quarter. Apollon Wealth Management LLC now owns 5,899 shares of the company's stock worth $360,000 after acquiring an additional 1,904 shares during the period. Empower Advisory Group LLC acquired a new stake in Wheaton Precious Metals during the 3rd quarter valued at approximately $217,000. Finally, Plato Investment Management Ltd bought a new position in Wheaton Precious Metals during the 3rd quarter worth approximately $950,000. Institutional investors own 70.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. 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. UBS Group began coverage on shares of Wheaton Precious Metals in a research report on Monday, November 18th. They set a "buy" rating and a $78.00 price target on the stock. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Wheaton Precious Metals has an average rating of "Buy" and an average target price of $71.67.

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Wheaton Precious Metals Stock Up 1.5 %

WPM traded up $1.10 during midday trading on Friday, hitting $73.82. The company had a trading volume of 2,502,491 shares, compared to its average volume of 1,582,365. The stock's 50 day moving average price is $64.40 and its 200 day moving average price is $62.60. Wheaton Precious Metals Corp. has a 52 week low of $43.18 and a 52 week high of $74.90. The company has a market capitalization of $33.49 billion, a price-to-earnings ratio of 55.09, a PEG ratio of 1.91 and a beta of 0.77.

Wheaton Precious Metals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a $0.165 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.66 annualized dividend and a yield of 0.89%. This is a positive change from Wheaton Precious Metals's previous quarterly dividend of $0.16. Wheaton Precious Metals's dividend payout ratio is presently 46.27%.

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.