Legal & General Group Plc decreased its holdings in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 27.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,552,173 shares of the company's stock after selling 976,872 shares during the quarter. Legal & General Group Plc owned 0.56% of Wheaton Precious Metals worth $143,580,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Wheaton Precious Metals in the fourth quarter worth $20,790,000. Sei Investments Co. raised its holdings in shares of Wheaton Precious Metals by 25.7% in the fourth quarter. Sei Investments Co. now owns 40,769 shares of the company's stock valued at $2,293,000 after buying an additional 8,331 shares during the last quarter. CWA Asset Management Group LLC lifted its position in Wheaton Precious Metals by 19.7% during the 4th quarter. CWA Asset Management Group LLC now owns 163,514 shares of the company's stock worth $9,196,000 after buying an additional 26,924 shares in the last quarter. Wellington Management Group LLP grew its holdings in Wheaton Precious Metals by 42.7% during the 3rd quarter. Wellington Management Group LLP now owns 133,627 shares of the company's stock worth $8,170,000 after acquiring an additional 39,979 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Wheaton Precious Metals by 9.1% in the 4th quarter. Bank of New York Mellon Corp now owns 399,035 shares of the company's stock valued at $22,442,000 after acquiring an additional 33,256 shares in the last quarter. 70.34% of the stock is owned by institutional investors.
Wheaton Precious Metals Price Performance
Shares of NYSE WPM traded up $0.24 during midday trading on Monday, reaching $82.37. 2,606,847 shares of the stock were exchanged, compared to its average volume of 1,645,294. Wheaton Precious Metals Corp. has a 12 month low of $49.71 and a 12 month high of $83.61. The company has a market capitalization of $37.37 billion, a price-to-earnings ratio of 61.47, a P/E/G ratio of 1.91 and a beta of 0.74. The business has a 50-day simple moving average of $71.92 and a two-hundred day simple moving average of $64.86.
Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its earnings results on Thursday, March 13th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.01). The business had revenue of $380.52 million during the quarter, compared to analyst estimates of $395.74 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The firm's revenue was up 21.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.36 earnings per share. Equities research analysts expect that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.
Wheaton Precious Metals Increases Dividend
The business also recently declared 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 represents a $0.66 dividend on an annualized basis and a yield of 0.80%. This is a positive change from Wheaton Precious Metals's previous quarterly dividend of $0.16. Wheaton Precious Metals's payout ratio is presently 56.90%.
Analyst Upgrades and Downgrades
WPM has been the subject of a number of research reports. 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 report on Friday. Scotiabank raised their price target on Wheaton Precious Metals from $79.00 to $87.00 and gave the company a "sector outperform" rating in a report on Monday. Stifel Canada upgraded Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 4th. Raymond James upped their target price on shares of Wheaton Precious Metals from $75.00 to $88.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. Finally, Royal Bank of Canada lifted their price target on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a "sector perform" rating in a research report on Friday, April 4th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $76.40.
Check Out Our Latest Research Report on WPM
Wheaton Precious Metals Profile
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Free Report)
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.
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