Hsbc Holdings PLC Acquires 241,108 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Hsbc Holdings PLC grew its stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 41.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 826,640 shares of the company's stock after purchasing an additional 241,108 shares during the quarter. Hsbc Holdings PLC owned approximately 0.18% of Wheaton Precious Metals worth $46,508,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Van ECK Associates Corp lifted its stake in Wheaton Precious Metals by 6.4% during the 4th 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. Vanguard Group Inc. lifted its position in shares of Wheaton Precious Metals by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 17,672,518 shares of the company's stock valued at $994,733,000 after purchasing an additional 281,123 shares in the last quarter. FMR LLC boosted its holdings in Wheaton Precious Metals by 5.9% during the fourth quarter. FMR LLC now owns 15,529,219 shares of the company's stock worth $873,995,000 after purchasing an additional 863,306 shares during the last quarter. Norges Bank purchased a new stake in Wheaton Precious Metals in the 4th quarter valued at about $472,648,000. Finally, TD Asset Management Inc. increased its stake in Wheaton Precious Metals by 9.6% in the 4th quarter. TD Asset Management Inc. now owns 7,156,818 shares of the company's stock valued at $402,627,000 after buying an additional 629,743 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Price Performance

Shares of NYSE:WPM traded up $0.42 during trading on Monday, hitting $82.07. 1,704,890 shares of the company were exchanged, compared to its average volume of 1,648,433. The company has a market cap of $37.24 billion, a PE ratio of 61.25, a P/E/G ratio of 1.91 and a beta of 0.74. Wheaton Precious Metals Corp. has a 52-week low of $51.80 and a 52-week high of $87.42. The stock has a 50 day moving average of $75.08 and a 200 day moving average of $66.44.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its earnings results on Thursday, March 13th. The company reported $0.44 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 during the quarter, compared to the consensus estimate of $395.74 million. During the same quarter in the prior year, the business earned $0.36 EPS. The firm's revenue for the quarter was up 21.4% compared to the same quarter last year. Sell-side 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. Investors of record on Tuesday, April 1st were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend was Tuesday, April 1st. This is a positive change from Wheaton Precious Metals's previous quarterly dividend of $0.16. Wheaton Precious Metals's dividend payout ratio is 56.90%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WPM. 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. Royal Bank of Canada raised their target price on Wheaton Precious Metals from $75.00 to $80.00 and gave the company a "sector perform" rating in a research report on Friday, April 4th. Raymond James boosted their price target on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an "outperform" rating in a report on Tuesday, April 15th. 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, UBS Group increased their target price 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. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $83.40.

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.