Tocqueville Asset Management L.P. Has $52.92 Million Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Key Points

• Tocqueville Asset Management L.P. increased its position in Wheaton Precious Metals Corp. by 0.8% to a total of 681,707 shares, valued at approximately $52.92 million.
• The company's stock performance has shown significant growth, with a 68.2% year-over-year revenue increase in its recent quarter, reporting revenue of $503.22 million.
• Wheaton Precious Metals declared a quarterly dividend of $0.165 per share, resulting in an annualized yield of 0.7% amidst a payout ratio of 38.15%.

Tocqueville Asset Management L.P. grew its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 0.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 681,707 shares of the company's stock after buying an additional 5,137 shares during the period. Wheaton Precious Metals accounts for approximately 0.9% of Tocqueville Asset Management L.P.'s investment portfolio, making the stock its 27th largest holding. Tocqueville Asset Management L.P. owned approximately 0.15% of Wheaton Precious Metals worth $52,921,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in WPM. Envestnet Asset Management Inc. increased its stake in shares of Wheaton Precious Metals by 10.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 69,139 shares of the company's stock valued at $3,888,000 after buying an additional 6,783 shares during the period. Cerity Partners LLC grew its stake in shares of Wheaton Precious Metals by 11.1% during the fourth quarter. Cerity Partners LLC now owns 19,213 shares of the company's stock worth $1,102,000 after purchasing an additional 1,923 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Wheaton Precious Metals during the fourth quarter worth $20,790,000. Rockefeller Capital Management L.P. grew its stake in shares of Wheaton Precious Metals by 8.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 35,604 shares of the company's stock worth $2,002,000 after purchasing an additional 2,640 shares during the period. Finally, Barclays PLC grew its stake in shares of Wheaton Precious Metals by 152.9% during the fourth quarter. Barclays PLC now owns 798,853 shares of the company's stock worth $44,928,000 after purchasing an additional 482,939 shares during the period. 70.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. National Bankshares reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. Scotiabank boosted their target price on Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector outperform" rating in a research note on Tuesday. CIBC reissued an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, July 15th. UBS Group set a $106.00 target price on Wheaton Precious Metals and gave the company a "neutral" rating in a research note on Monday, August 11th. Finally, Berenberg Bank boosted their target price on Wheaton Precious Metals from $87.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.33.

Wheaton Precious Metals Stock Performance

Wheaton Precious Metals stock opened at $94.28 on Friday. Wheaton Precious Metals Corp. has a 12 month low of $55.47 and a 12 month high of $103.81. The stock's 50 day moving average is $91.95 and its 200-day moving average is $81.87. The company has a market capitalization of $42.80 billion, a price-to-earnings ratio of 54.50, a PEG ratio of 2.62 and a beta of 0.39.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%. The company had revenue of $503.22 million for the quarter, compared to the consensus estimate of $424.23 million. During the same quarter in the prior year, the business earned $0.33 earnings per share. The firm's revenue for the quarter was up 68.2% on a year-over-year basis. As a group, equities research analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.66 dividend on an annualized basis and a yield of 0.7%. Wheaton Precious Metals's dividend payout ratio is currently 38.15%.

About Wheaton Precious Metals

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.

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