Gabelli Funds LLC Sells 10,000 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Gabelli Funds LLC lowered its stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 787,950 shares of the company's stock after selling 10,000 shares during the period. Gabelli Funds LLC owned approximately 0.17% of Wheaton Precious Metals worth $44,314,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of WPM. Van ECK Associates Corp increased its stake in 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 acquiring an additional 1,231,999 shares during the period. Vanguard Group Inc. increased its position in shares of Wheaton Precious Metals by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 17,672,518 shares of the company's stock worth $994,733,000 after purchasing an additional 281,123 shares during the period. FMR LLC raised its stake in Wheaton Precious Metals by 5.9% in the fourth quarter. FMR LLC now owns 15,529,219 shares of the company's stock valued at $873,995,000 after purchasing an additional 863,306 shares in the last quarter. Norges Bank acquired a new stake in Wheaton Precious Metals during the fourth quarter worth about $472,648,000. Finally, TD Asset Management Inc. increased its holdings in Wheaton Precious Metals by 9.6% in the 4th quarter. TD Asset Management Inc. now owns 7,156,818 shares of the company's stock valued at $402,627,000 after buying an additional 629,743 shares during the period. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Stock Down 0.7 %

Shares of NYSE WPM traded down $0.60 during mid-day trading on Friday, reaching $84.16. 1,745,316 shares of the company were exchanged, compared to its average volume of 1,643,428. The company's 50 day moving average price is $73.63 and its 200 day moving average price is $65.58. Wheaton Precious Metals Corp. has a 52 week low of $50.91 and a 52 week high of $86.20. The stock has a market capitalization of $38.18 billion, a PE ratio of 62.81, a PEG ratio of 1.91 and a beta of 0.74.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its earnings results on Thursday, March 13th. The company reported $0.44 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 business had revenue of $380.52 million during the quarter, compared to analysts' expectations of $395.74 million. During the same quarter in the previous year, the business earned $0.36 EPS. Wheaton Precious Metals's revenue for the quarter was up 21.4% compared to the same quarter last year. On average, sell-side analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.78%. This is a positive change from Wheaton Precious Metals's previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, April 1st. Wheaton Precious Metals's dividend payout ratio (DPR) is presently 56.90%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. UBS Group boosted their price target on Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Royal Bank of Canada upped their price target on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company a "sector perform" rating in a research report on Friday, April 4th. Stifel Canada upgraded shares of Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. BMO Capital Markets initiated coverage on shares of Wheaton Precious Metals in a research note on Wednesday. They issued an "outperform" rating and a $129.00 price objective on the stock. Finally, Scotiabank raised their target price on Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a "sector outperform" rating in a research report on Monday. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $83.40.

Wheaton Precious Metals Profile

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.