Geode Capital Management LLC Acquires 661,913 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Geode Capital Management LLC boosted its stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 33.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,664,542 shares of the company's stock after purchasing an additional 661,913 shares during the quarter. Geode Capital Management LLC owned about 0.59% of Wheaton Precious Metals worth $151,134,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WPM. Norges Bank acquired a new stake in shares of Wheaton Precious Metals in the 4th quarter valued at about $472,648,000. Arrowstreet Capital Limited Partnership acquired a new stake in Wheaton Precious Metals in the fourth quarter valued at approximately $72,657,000. Van ECK Associates Corp increased its holdings in shares of Wheaton Precious Metals by 6.4% during the fourth quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company's stock valued at $1,154,843,000 after acquiring an additional 1,231,999 shares in the last quarter. TD Asset Management Inc. raised its position in shares of Wheaton Precious Metals by 9.6% during the fourth quarter. TD Asset Management Inc. now owns 7,156,818 shares of the company's stock worth $402,627,000 after purchasing an additional 629,743 shares during the period. Finally, Proficio Capital Partners LLC raised its position in shares of Wheaton Precious Metals by 5,754.4% during the fourth quarter. Proficio Capital Partners LLC now owns 485,914 shares of the company's stock worth $27,328,000 after purchasing an additional 477,614 shares during the period. 70.34% of the stock is owned by institutional investors.

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Wheaton Precious Metals Stock Up 5.4 %

WPM traded up $4.18 during trading on Friday, hitting $82.08. 3,609,122 shares of the company traded hands, compared to its average volume of 1,650,179. The firm has a market cap of $37.24 billion, a P/E ratio of 61.25, a price-to-earnings-growth ratio of 1.91 and a beta of 0.74. Wheaton Precious Metals Corp. has a one year low of $49.71 and a one year high of $82.99. The stock's fifty day moving average is $71.92 and its 200 day moving average is $64.86.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly 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). Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The company had revenue of $380.52 million for the quarter, compared to analysts' expectations of $395.74 million. During the same quarter in the previous year, the business earned $0.36 EPS. The company's revenue for the quarter was up 21.4% on a year-over-year basis. On average, equities research analysts forecast 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. Shareholders of record on Tuesday, April 1st were paid a $0.165 dividend. The ex-dividend date was Tuesday, April 1st. This is a positive change from Wheaton Precious Metals's previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a dividend yield of 0.80%. Wheaton Precious Metals's payout ratio is presently 56.90%.

Analyst Ratings Changes

A number of brokerages have commented on WPM. Royal Bank of Canada boosted their price target on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company a "sector perform" rating in a research note on Friday, April 4th. UBS Group boosted their target price on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a research report on Friday. Scotiabank raised their price target on shares of Wheaton Precious Metals from $78.00 to $79.00 and gave the company a "sector outperform" rating in a research report on Monday, March 17th. Stifel Canada raised Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Finally, 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 report on Friday, April 4th. One equities research 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. According to data from MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of "Buy" and a consensus target price of $75.60.

About Wheaton Precious Metals

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.