Ameriprise Financial Inc. Reduces Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Ameriprise Financial Inc. reduced its stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 17.5% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 337,702 shares of the company's stock after selling 71,806 shares during the quarter. Ameriprise Financial Inc. owned 0.07% of Wheaton Precious Metals worth $19,404,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in WPM. Norges Bank bought a new position in shares of Wheaton Precious Metals during the 4th quarter valued at approximately $472,648,000. Capital International Investors purchased a new stake in Wheaton Precious Metals in the fourth quarter worth $263,810,000. Arrowstreet Capital Limited Partnership purchased a new stake in Wheaton Precious Metals in the fourth quarter worth $72,657,000. Van ECK Associates Corp lifted its position in shares of 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 valued at $1,154,843,000 after buying an additional 1,231,999 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in Wheaton Precious Metals by 1,321.7% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,221,522 shares of the company's stock worth $68,720,000 after purchasing an additional 1,135,603 shares during the period. Institutional investors own 70.34% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. UBS Group increased their target price on Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. National Bankshares reiterated an "outperform" rating on shares of Wheaton Precious Metals in a report on Wednesday, April 23rd. Stifel Canada upgraded shares of Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Raymond James boosted their target price on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the company an "outperform" rating in a report on Tuesday, April 15th. Finally, StockNews.com raised Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $85.90.

Wheaton Precious Metals Trading Up 2.1%

WPM traded up $1.77 during trading hours on Wednesday, hitting $84.75. The company's stock had a trading volume of 547,701 shares, compared to its average volume of 1,668,307. The stock has a market cap of $38.46 billion, a price-to-earnings ratio of 63.30, a P/E/G ratio of 1.91 and a beta of 0.49. The business's 50-day moving average price is $79.07 and its 200-day moving average price is $68.35. Wheaton Precious Metals Corp. has a 12 month low of $51.96 and a 12 month high of $87.42.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.05. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The firm had revenue of $470.41 million during the quarter, compared to the consensus estimate of $446.33 million. During the same quarter last year, the firm earned $0.36 EPS. The firm's revenue for the quarter was up 58.4% compared to the same quarter last year. On average, analysts forecast that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Wednesday, May 28th. Wheaton Precious Metals's payout ratio is 48.53%.

Wheaton Precious Metals Company 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.