Geode Capital Management LLC Grows Stake in Wheaton Precious Metals Corp. (NYSE:WPM)

Geode Capital Management LLC boosted its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 5.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,002,629 shares of the company's stock after buying an additional 111,769 shares during the quarter. Geode Capital Management LLC owned approximately 0.44% of Wheaton Precious Metals worth $121,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in Wheaton Precious Metals by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 955,540 shares of the company's stock worth $58,422,000 after buying an additional 36,970 shares during the last quarter. Well Done LLC increased its position in Wheaton Precious Metals by 173.9% in the third quarter. Well Done LLC now owns 38,108 shares of the company's stock worth $2,328,000 after buying an additional 24,196 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new stake in Wheaton Precious Metals in the second quarter worth $1,016,000. Swiss National Bank increased its position in 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 buying an additional 10,600 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Wheaton Precious Metals in the third quarter valued at $1,287,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on WPM shares. National Bank Financial upgraded Wheaton Precious Metals from a "sector perform" rating to an "outperform" rating in a research report on Thursday, October 10th. Stifel Canada cut Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 21st. TD Securities lifted their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Jefferies Financial Group lifted their price target on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a "buy" rating in a research report on Friday, October 4th. Finally, Raymond James lifted their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of "Moderate Buy" and a consensus price target of $71.67.

Wheaton Precious Metals Price Performance

WPM stock traded down $2.54 during mid-day trading on Wednesday, hitting $57.22. 1,769,779 shares of the stock were exchanged, compared to its average volume of 1,763,631. The business has a fifty day moving average price of $63.00 and a 200 day moving average price of $59.87. Wheaton Precious Metals Corp. has a 12 month low of $38.57 and a 12 month high of $68.64. The stock has a market capitalization of $25.96 billion, a price-to-earnings ratio of 42.70, a PEG ratio of 1.67 and a beta of 0.75.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, meeting analysts' consensus estimates of $0.34. The company had revenue of $308.25 million during the quarter, compared to analyst estimates of $324.57 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. During the same quarter in the previous year, the company posted $0.27 EPS. As a group, equities analysts forecast that Wheaton Precious Metals Corp. will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 21st were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Thursday, November 21st. 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.