Fmr LLC Buys 3,692,594 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

FMR LLC lifted its stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 33.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,665,913 shares of the company's stock after purchasing an additional 3,692,594 shares during the quarter. FMR LLC owned 3.23% of Wheaton Precious Metals worth $895,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Well Done LLC increased its stake in Wheaton Precious Metals by 173.9% in the 3rd quarter. Well Done LLC now owns 38,108 shares of the company's stock valued at $2,328,000 after buying an additional 24,196 shares during the period. Lighthouse Investment Partners LLC purchased a new position in shares of Wheaton Precious Metals during the 2nd quarter valued at $1,016,000. Swiss National Bank increased its stake in shares of Wheaton Precious Metals by 0.8% in the third quarter. Swiss National Bank now owns 1,370,800 shares of the company's stock worth $83,854,000 after acquiring an additional 10,600 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Wheaton Precious Metals by 10.6% during the third quarter. CIBC Asset Management Inc now owns 2,273,160 shares of the company's stock worth $140,099,000 after acquiring an additional 218,575 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its position in Wheaton Precious Metals by 48.1% during the third quarter. King Luther Capital Management Corp now owns 1,501,037 shares of the company's stock valued at $91,683,000 after purchasing an additional 487,190 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WPM has been the topic of several research reports. UBS Group initiated coverage on Wheaton Precious Metals in a research report on Monday, November 18th. They issued a "buy" rating and a $78.00 target price on the stock. National Bank Financial upgraded Wheaton Precious Metals from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 10th. Jefferies Financial Group lifted their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a "buy" rating in a research note on Friday, October 4th. Stifel Canada downgraded shares of Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 21st. Finally, Raymond James raised their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an "outperform" rating in a report on Friday, October 25th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of "Moderate Buy" and a consensus price target of $71.67.

Wheaton Precious Metals Price Performance

NYSE:WPM traded down $0.33 during midday trading on Thursday, reaching $61.74. The stock had a trading volume of 900,782 shares, compared to its average volume of 1,791,649. The stock has a market capitalization of $28.01 billion, a P/E ratio of 46.07, a PEG ratio of 2.23 and a beta of 0.77. Wheaton Precious Metals Corp. has a 1-year low of $38.57 and a 1-year high of $68.64. The firm's fifty day simple moving average is $63.00 and its 200-day simple moving average is $59.31.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The company had revenue of $308.25 million for the quarter, compared to the consensus estimate of $324.57 million. During the same period last year, the business posted $0.27 earnings per share. On average, equities research analysts anticipate that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.00%. Wheaton Precious Metals's dividend payout ratio (DPR) 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.