Wellington Management Group LLP Buys 39,979 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Wellington Management Group LLP raised its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 42.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 133,627 shares of the company's stock after purchasing an additional 39,979 shares during the quarter. Wellington Management Group LLP's holdings in Wheaton Precious Metals were worth $8,170,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WPM. Ridgewood Investments LLC bought a new stake in Wheaton Precious Metals during the second quarter valued at approximately $31,000. Abich Financial Wealth Management LLC purchased a new position in shares of Wheaton Precious Metals during the 2nd quarter worth $31,000. St. Johns Investment Management Company LLC bought a new stake in shares of Wheaton Precious Metals during the 3rd quarter valued at $48,000. Sunbelt Securities Inc. purchased a new stake in shares of Wheaton Precious Metals in the 2nd quarter worth $47,000. Finally, First Horizon Advisors Inc. bought a new position in Wheaton Precious Metals in the 3rd quarter worth $67,000. Hedge funds and other institutional investors own 70.34% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on WPM. National Bank Financial raised Wheaton Precious Metals from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 10th. UBS Group started coverage on shares of Wheaton Precious Metals in a research report on Monday, November 18th. They issued a "buy" rating and a $78.00 price target for the company. TD Securities raised their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Stifel Canada downgraded shares of Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a report on Monday, October 21st. Finally, Raymond James increased their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, Wheaton Precious Metals currently has an average rating of "Moderate Buy" and a consensus price target of $71.67.

Wheaton Precious Metals Stock Performance

Shares of WPM traded down $0.54 during midday trading on Monday, hitting $60.02. 1,295,396 shares of the company traded hands, compared to its average volume of 1,765,270. The stock has a market cap of $27.23 billion, a price-to-earnings ratio of 44.79, a PEG ratio of 1.67 and a beta of 0.75. The firm has a 50 day moving average of $63.00 and a 200-day moving average of $59.84. Wheaton Precious Metals Corp. has a 52 week low of $38.57 and a 52 week high of $68.64.

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

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 21st were given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, November 21st. Wheaton Precious Metals's dividend payout ratio is presently 46.27%.

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.