Magnetar Financial LLC Purchases New Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Magnetar Financial LLC acquired a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 14,495 shares of the company's stock, valued at approximately $815,000.

A number of other large investors have also made changes to their positions in the stock. FMR LLC increased its stake in Wheaton Precious Metals by 33.7% during the third quarter. FMR LLC now owns 14,665,913 shares of the company's stock valued at $895,723,000 after acquiring an additional 3,692,594 shares during the period. Van ECK Associates Corp grew its holdings in shares of 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 worth $1,154,843,000 after purchasing an additional 1,231,999 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Wheaton Precious Metals by 1,865.2% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,245,534 shares of the company's stock valued at $76,061,000 after purchasing an additional 1,182,156 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Wheaton Precious Metals by 22.5% in the third quarter. The Manufacturers Life Insurance Company now owns 3,456,230 shares of the company's stock valued at $211,207,000 after purchasing an additional 634,843 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in Wheaton Precious Metals by 21.3% in the third quarter. National Bank of Canada FI now owns 2,923,402 shares of the company's stock worth $178,551,000 after purchasing an additional 513,890 shares during the period. Institutional investors and hedge funds own 70.34% of the company's stock.

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Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Scotiabank boosted 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 report on Monday, March 17th. Stifel Canada raised shares of Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $72.44.

Wheaton Precious Metals Stock Up 1.4 %

NYSE:WPM traded up $1.05 on Tuesday, reaching $75.96. The stock had a trading volume of 1,657,004 shares, compared to its average volume of 1,580,563. The company has a market capitalization of $34.46 billion, a P/E ratio of 56.69, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77. Wheaton Precious Metals Corp. has a 1-year low of $44.57 and a 1-year high of $77.44. The stock has a fifty day moving average price of $67.33 and a 200-day moving average price of $63.45.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced 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 business had revenue of $380.52 million during the quarter, compared to analyst estimates of $395.74 million. During the same period in the previous year, the firm earned $0.36 earnings per share. The firm's revenue was up 21.4% compared to the same quarter last year. Sell-side analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be paid a $0.165 dividend. The ex-dividend date is Tuesday, April 1st. This is a positive change from Wheaton Precious Metals's previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.87%. Wheaton Precious Metals's dividend payout ratio (DPR) is 56.90%.

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.