Employees Retirement System of Texas acquired a new stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 13,870 shares of the company's stock, valued at approximately $7,800,000.
Other hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc purchased a new stake in Wheaton Precious Metals in the 4th quarter valued at $29,000. Promus Capital LLC bought a new stake in shares of Wheaton Precious Metals in the 4th quarter worth $32,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at about $38,000. Laurel Wealth Advisors LLC bought a new position in shares of Wheaton Precious Metals during the fourth quarter valued at about $39,000. Finally, Quintet Private Bank Europe S.A. purchased a new position in Wheaton Precious Metals during the fourth quarter worth about $39,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.
Wheaton Precious Metals Stock Performance
Shares of NYSE:WPM traded up $4.18 during midday trading on Friday, reaching $82.08. 3,609,122 shares of the company's stock traded hands, compared to its average volume of 1,650,179. Wheaton Precious Metals Corp. has a one year low of $49.71 and a one year high of $82.99. The company has a market cap of $37.24 billion, a price-to-earnings ratio of 61.25, a P/E/G ratio of 1.91 and a beta of 0.74. The stock has a 50 day moving average of $71.92 and a 200 day moving average of $64.86.
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 analysts' consensus estimates of $0.45 by ($0.01). The company had revenue of $380.52 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 21.4% on a year-over-year basis. During the same period last year, the firm posted $0.36 EPS. Sell-side analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.
Wheaton Precious Metals Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.80%. This is a positive change from Wheaton Precious Metals's previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Tuesday, April 1st. Wheaton Precious Metals's dividend payout ratio is currently 56.90%.
Wall Street Analysts Forecast Growth
WPM has been the subject of several research analyst reports. Raymond James raised their target price on Wheaton Precious Metals from $75.00 to $88.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. UBS Group raised their price objective on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a report on Friday. Royal Bank of Canada lifted their price objective on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a "sector perform" rating in a research report on Friday, April 4th. Stifel Canada raised shares of Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 4th. Finally, Scotiabank lifted their price target on shares of Wheaton Precious Metals from $78.00 to $79.00 and gave the stock a "sector outperform" rating in a report on Monday, March 17th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $75.60.
Get Our Latest Research Report on WPM
About Wheaton Precious Metals
(
Free Report)
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.
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