60,000 Shares in Wheaton Precious Metals Corp. (NYSE:WPM) Bought by Telemark Asset Management LLC

Telemark Asset Management LLC bought a new stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 60,000 shares of the company's stock, valued at approximately $3,665,000.

A number of other hedge funds have also made changes to their positions in WPM. AdvisorNet Financial Inc lifted its position in Wheaton Precious Metals by 6.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company's stock worth $175,000 after buying an additional 190 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Wheaton Precious Metals by 1.0% in the third quarter. Principal Financial Group Inc. now owns 19,761 shares of the company's stock worth $1,208,000 after acquiring an additional 196 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in shares of Wheaton Precious Metals by 0.6% during the third quarter. Vontobel Holding Ltd. now owns 34,558 shares of the company's stock worth $2,110,000 after acquiring an additional 197 shares in the last quarter. Capital International Inc. CA boosted its position in Wheaton Precious Metals by 2.5% during the first quarter. Capital International Inc. CA now owns 8,308 shares of the company's stock valued at $392,000 after purchasing an additional 204 shares during the last quarter. Finally, Arkadios Wealth Advisors grew its stake in Wheaton Precious Metals by 1.0% in the third quarter. Arkadios Wealth Advisors now owns 21,575 shares of the company's stock valued at $1,318,000 after purchasing an additional 210 shares in the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock traded up $0.33 during trading on Friday, reaching $63.81. The company's stock had a trading volume of 5,675,369 shares, compared to its average volume of 1,785,925. Wheaton Precious Metals Corp. has a one year low of $38.57 and a one year high of $68.64. The firm has a market cap of $28.95 billion, a price-to-earnings ratio of 47.57, a price-to-earnings-growth ratio of 2.28 and a beta of 0.77. The business's fifty day moving average price is $62.99 and its 200-day moving average price is $59.06.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The company had revenue of $308.25 million for the quarter, compared to the consensus estimate of $324.57 million. During the same period in the previous year, the business posted $0.27 EPS. Sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 1.44 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 21st will be given a $0.155 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.62 annualized dividend and a yield of 0.97%. Wheaton Precious Metals's dividend payout ratio is 46.27%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on WPM shares. National Bank Financial upgraded Wheaton Precious Metals from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 10th. Raymond James lifted their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. UBS Group assumed coverage on shares of Wheaton Precious Metals in a research note on Monday. They set a "buy" rating and a $78.00 price target on the stock. Jefferies Financial Group lifted their price objective on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a "buy" rating in a research note on Friday, October 4th. Finally, TD Securities increased their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $71.67.

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.