Envestnet Asset Management Inc. Raises Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Envestnet Asset Management Inc. raised its holdings in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 10.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,139 shares of the company's stock after buying an additional 6,783 shares during the period. Envestnet Asset Management Inc.'s holdings in Wheaton Precious Metals were worth $3,888,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WPM. Norges Bank purchased a new stake in shares of Wheaton Precious Metals during the 4th quarter worth $472,648,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Wheaton Precious Metals during the 4th 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 worth $1,154,843,000 after purchasing an additional 1,231,999 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Wheaton Precious Metals by 33.1% during the 4th quarter. Geode Capital Management LLC now owns 2,664,542 shares of the company's stock worth $151,134,000 after purchasing an additional 661,913 shares during the last quarter. Finally, TD Asset Management Inc. lifted its position in shares of Wheaton Precious Metals by 9.6% during the 4th quarter. TD Asset Management Inc. now owns 7,156,818 shares of the company's stock worth $402,627,000 after purchasing an additional 629,743 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WPM. Raymond James lifted their price target on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 15th. Scotiabank lifted their price target on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a "sector outperform" rating in a research note on Monday, April 14th. National Bankshares reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Wednesday, April 23rd. Stifel Canada upgraded shares of Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada lifted their price target on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a "sector perform" rating in a research note on Friday, April 4th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Wheaton Precious Metals has an average rating of "Buy" and an average target price of $83.40.

Wheaton Precious Metals Trading Down 0.3 %

Shares of Wheaton Precious Metals stock traded down $0.25 on Tuesday, reaching $81.82. 1,581,745 shares of the stock were exchanged, compared to its average volume of 1,646,505. The firm has a market capitalization of $37.12 billion, a PE ratio of 61.06, a PEG ratio of 1.91 and a beta of 0.74. Wheaton Precious Metals Corp. has a 1-year low of $51.80 and a 1-year high of $87.42. The business has a fifty day moving average price of $75.57 and a two-hundred day moving average price of $66.70.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its earnings results on Thursday, March 13th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01). The business had revenue of $380.52 million for the quarter, compared to analyst estimates of $395.74 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The business's revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 EPS. Research analysts expect that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.81%. This is an increase from Wheaton Precious Metals's previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Tuesday, April 1st. Wheaton Precious Metals's dividend payout ratio is 56.90%.

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.