Wellington Management Group LLP Has $4.96 Million Stake in Wheaton Precious Metals Corp. (NYSE:WPM)

Wellington Management Group LLP trimmed its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 34.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 88,158 shares of the company's stock after selling 45,469 shares during the quarter. Wellington Management Group LLP's holdings in Wheaton Precious Metals were worth $4,960,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Promus Capital LLC bought a new position in shares of Wheaton Precious Metals in the fourth quarter worth about $32,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Wheaton Precious Metals during the 4th quarter worth approximately $38,000. Quintet Private Bank Europe S.A. bought a new position in Wheaton Precious Metals in the 4th quarter valued at approximately $39,000. Headlands Technologies LLC lifted its stake in Wheaton Precious Metals by 494.9% in the 4th quarter. Headlands Technologies LLC now owns 696 shares of the company's stock valued at $39,000 after purchasing an additional 579 shares during the last quarter. Finally, Flagship Wealth Advisors LLC acquired a new stake in Wheaton Precious Metals in the fourth quarter valued at approximately $41,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WPM has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating in a report on Monday, May 12th. BMO Capital Markets began coverage on Wheaton Precious Metals in a report on Wednesday, April 16th. They issued an "outperform" rating and a $129.00 target price for the company. Scotiabank lifted their price target on Wheaton Precious Metals from $79.00 to $87.00 and gave the company a "sector outperform" rating in a research note on Monday, April 14th. UBS Group upped their price objective on Wheaton Precious Metals from $78.00 to $89.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Finally, National Bankshares reiterated an "outperform" rating on shares of Wheaton Precious Metals in a report on Wednesday, April 23rd. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $86.90.

Wheaton Precious Metals Trading Down 1.3%

WPM stock traded down $1.16 during trading on Thursday, hitting $91.59. The company had a trading volume of 2,642,685 shares, compared to its average volume of 1,679,759. Wheaton Precious Metals Corp. has a one year low of $51.96 and a one year high of $95.18. The business has a 50-day moving average of $81.72 and a 200-day moving average of $70.25. The stock has a market cap of $41.57 billion, a PE ratio of 68.35, a PEG ratio of 1.91 and a beta of 0.49.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $470.41 million for the quarter, compared to analyst estimates of $446.33 million. During the same period in the prior year, the firm posted $0.36 EPS. The company's quarterly revenue was up 58.4% on a year-over-year basis. Research analysts forecast that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Wednesday, May 28th. Wheaton Precious Metals's dividend 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.