Moors & Cabot Inc. increased its stake in Wheaton Precious Metals Corp (NYSE:WPM) by 5.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,654 shares of the company’s stock after acquiring an additional 1,650 shares during the period. Moors & Cabot Inc.’s holdings in Wheaton Precious Metals were worth $831,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. raised its stake in shares of Wheaton Precious Metals by 11.3% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,304,607 shares of the company’s stock valued at $25,480,000 after acquiring an additional 132,834 shares in the last quarter. We Are One Seven LLC acquired a new stake in Wheaton Precious Metals in the fourth quarter valued at $165,000. Exane Derivatives raised its stake in Wheaton Precious Metals by 24.4% in the fourth quarter. Exane Derivatives now owns 77,883 shares of the company’s stock valued at $1,521,000 after buying an additional 15,268 shares in the last quarter. Bank of Nova Scotia raised its stake in Wheaton Precious Metals by 13.3% in the fourth quarter. Bank of Nova Scotia now owns 1,726,728 shares of the company’s stock valued at $33,723,000 after buying an additional 202,886 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Wheaton Precious Metals by 28.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 770,454 shares of the company’s stock valued at $15,033,000 after buying an additional 172,496 shares in the last quarter. Institutional investors and hedge funds own 56.35% of the company’s stock.
WPM has been the topic of a number of analyst reports. Deutsche Bank restated a “buy” rating and issued a $26.00 price target (up from $25.00) on shares of Wheaton Precious Metals in a research note on Wednesday, April 10th. GMP Securities cut Wheaton Precious Metals from a “buy” rating to a “hold” rating and set a $26.00 price target on the stock. in a research note on Tuesday, April 23rd. TheStreet upgraded Wheaton Precious Metals from a “c+” rating to a “b-” rating in a research note on Thursday, February 21st. TD Securities raised their price target on Wheaton Precious Metals from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. Finally, Barclays cut Wheaton Precious Metals from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $31.14.
Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. The company had revenue of $225.05 million for the quarter, compared to analyst estimates of $202.80 million. Wheaton Precious Metals had a return on equity of 3.86% and a net margin of 50.78%. As a group, analysts anticipate that Wheaton Precious Metals Corp will post 0.55 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Friday, May 24th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Thursday, May 23rd. Wheaton Precious Metals’s payout ratio is 75.00%.
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Wheaton Precious Metals Profile
Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells silver and gold ores. It has agreements for 19 operating mines and 9 development stage projects. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp.
Further Reading: Outstanding Shares and The Effect on Share Price
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