United Capital Management of KS Inc. Takes $347,000 Position in Wheaton Precious Metals Corp. (NYSE:WPM)

United Capital Management of KS Inc. bought a new stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,166 shares of the company's stock, valued at approximately $347,000.

A number of other large investors also recently made changes to their positions in the business. Van ECK Associates Corp increased its holdings in Wheaton Precious Metals by 6.4% in the fourth quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company's stock worth $1,154,843,000 after buying an additional 1,231,999 shares during the last quarter. FMR LLC increased its holdings in Wheaton Precious Metals by 33.7% in the third quarter. FMR LLC now owns 14,665,913 shares of the company's stock worth $895,723,000 after buying an additional 3,692,594 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in 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 worth $211,207,000 after buying an additional 634,843 shares during the last quarter. National Bank of Canada FI increased its holdings 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 buying an additional 513,890 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in Wheaton Precious Metals by 11.8% in the fourth quarter. CIBC Asset Management Inc now owns 2,541,133 shares of the company's stock worth $144,356,000 after buying an additional 267,973 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company's stock.

Remove Ads

Wheaton Precious Metals Trading Up 1.0 %

Wheaton Precious Metals stock traded up $0.75 during trading hours on Wednesday, reaching $76.28. 1,396,063 shares of the company were exchanged, compared to its average volume of 1,578,779. The firm has a market cap of $34.61 billion, a price-to-earnings ratio of 56.93, a PEG ratio of 1.91 and a beta of 0.76. The stock has a 50-day moving average of $65.49 and a 200 day moving average of $62.89. Wheaton Precious Metals Corp. has a 12 month low of $43.18 and a 12 month high of $77.44.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced 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). 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 for the quarter, compared to the consensus estimate of $395.74 million. During the same period in the previous year, the company earned $0.36 EPS. The firm's revenue for the quarter was up 21.4% compared to the same quarter last year. As a group, research analysts forecast that Wheaton Precious Metals Corp. will post 1.46 EPS 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 given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.87%. This is a boost from Wheaton Precious Metals's previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, April 1st. Wheaton Precious Metals's dividend payout ratio is currently 49.25%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Scotiabank increased their price objective on Wheaton Precious Metals from $78.00 to $79.00 and gave the stock 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 report on Tuesday, February 4th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Wheaton Precious Metals presently has a consensus rating of "Buy" and an average price target of $72.44.

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.