Norges Bank acquired a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,407,652 shares of the company's stock, valued at approximately $472,648,000. Norges Bank owned about 1.85% of Wheaton Precious Metals at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Versant Capital Management Inc acquired a new position in shares of Wheaton Precious Metals during the fourth quarter valued at $29,000. Promus Capital LLC acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at $32,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Wheaton Precious Metals during the 4th quarter valued at about $38,000. Laurel Wealth Advisors LLC acquired a new position in Wheaton Precious Metals in the fourth quarter worth approximately $39,000. Finally, Quintet Private Bank Europe S.A. acquired a new position in shares of Wheaton Precious Metals in the 4th quarter valued at $39,000. 70.34% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research firms have weighed in on WPM. Stifel Canada upgraded shares of Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 4th. Scotiabank boosted their price target on Wheaton Precious Metals from $78.00 to $79.00 and gave the company a "sector outperform" rating in a research note on Monday, March 17th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Wheaton Precious Metals currently has an average rating of "Buy" and a consensus target price of $72.44.
Check Out Our Latest Analysis on WPM
Wheaton Precious Metals Price Performance
Shares of NYSE WPM traded down $0.71 during trading hours on Tuesday, hitting $76.75. 1,224,811 shares of the company's stock were exchanged, compared to its average volume of 1,615,249. The stock has a market capitalization of $34.82 billion, a price-to-earnings ratio of 57.30, a PEG ratio of 1.91 and a beta of 0.77. The company's 50-day moving average price is $68.84 and its 200-day moving average price is $63.92. Wheaton Precious Metals Corp. has a 1-year low of $48.00 and a 1-year high of $78.04.
Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted 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). The company had revenue of $380.52 million during the quarter, compared to analyst estimates of $395.74 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The business's revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.36 earnings per share. On average, research analysts expect that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.
Wheaton Precious Metals Increases Dividend
The firm also recently disclosed 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. This is a boost from Wheaton Precious Metals's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.86%. Wheaton Precious Metals's dividend payout ratio is currently 56.90%.
About Wheaton Precious Metals
(
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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