Envestnet Asset Management Inc. Boosts Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Envestnet Asset Management Inc. boosted its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 10.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,139 shares of the company's stock after buying an additional 6,783 shares during the period. Envestnet Asset Management Inc.'s holdings in Wheaton Precious Metals were worth $3,888,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in WPM. Van ECK Associates Corp raised its holdings in shares of Wheaton Precious Metals by 6.4% in the 4th quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company's stock worth $1,154,843,000 after acquiring an additional 1,231,999 shares during the last quarter. Vanguard Group Inc. increased its holdings in Wheaton Precious Metals by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 17,672,518 shares of the company's stock worth $994,733,000 after purchasing an additional 281,123 shares in the last quarter. Norges Bank purchased a new stake in shares of Wheaton Precious Metals in the fourth quarter worth approximately $472,648,000. TD Asset Management Inc. lifted its holdings in shares of Wheaton Precious Metals by 9.6% in the fourth quarter. TD Asset Management Inc. now owns 7,156,818 shares of the company's stock valued at $402,627,000 after purchasing an additional 629,743 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC lifted its holdings in shares of Wheaton Precious Metals by 6.4% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 2,931,246 shares of the company's stock valued at $164,853,000 after purchasing an additional 177,071 shares in the last quarter. 70.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Scotiabank increased their price target on Wheaton Precious Metals from $79.00 to $87.00 and gave the company a "sector outperform" rating in a research report on Monday, April 14th. Stifel Canada upgraded shares of Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. UBS Group raised their price target on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the company a "buy" rating in a research report on Friday, April 11th. National Bankshares restated an "outperform" rating on shares of Wheaton Precious Metals in a report on Wednesday. Finally, BMO Capital Markets assumed coverage on shares of Wheaton Precious Metals in a research note on Wednesday, April 16th. They issued an "outperform" rating and a $129.00 price objective for the company. One analyst has rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of "Buy" and an average target price of $83.40.

Wheaton Precious Metals Trading Down 0.7 %

Shares of NYSE:WPM traded down $0.55 during mid-day trading on Friday, reaching $81.62. The company had a trading volume of 1,463,968 shares, compared to its average volume of 1,648,206. Wheaton Precious Metals Corp. has a one year low of $51.80 and a one year high of $87.42. The company's 50-day moving average price is $75.08 and its 200-day moving average price is $66.40. The firm has a market cap of $37.03 billion, a price-to-earnings ratio of 60.91, a PEG ratio of 1.91 and a beta of 0.74.

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

Wheaton Precious Metals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were issued a dividend of $0.165 per share. The ex-dividend date was Tuesday, April 1st. This is an increase from Wheaton Precious Metals's previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a yield of 0.81%. Wheaton Precious Metals's dividend payout ratio is 56.90%.

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.