UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 41.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 861,062 shares of the company's stock after selling 608,273 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.19% of Wheaton Precious Metals worth $48,426,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its stake 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 buying an additional 1,231,999 shares in the last quarter. Vanguard Group Inc. increased its stake in Wheaton Precious Metals by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 17,672,518 shares of the company's stock valued at $994,733,000 after purchasing an additional 281,123 shares in the last quarter. FMR LLC increased its stake in Wheaton Precious Metals by 5.9% in the 4th quarter. FMR LLC now owns 15,529,219 shares of the company's stock valued at $873,995,000 after purchasing an additional 863,306 shares in the last quarter. Royal Bank of Canada increased its stake in Wheaton Precious Metals by 5.0% in the 4th quarter. Royal Bank of Canada now owns 9,424,930 shares of the company's stock valued at $530,057,000 after purchasing an additional 447,702 shares in the last quarter. Finally, Norges Bank purchased a new position in Wheaton Precious Metals in the 4th quarter valued at approximately $472,648,000. 70.34% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on WPM. Wall Street Zen raised Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Raymond James increased their target price on Wheaton Precious Metals from $88.00 to $90.00 and gave the company an "outperform" rating in a report on Tuesday, April 15th. CIBC increased their target price on Wheaton Precious Metals from $95.00 to $105.00 and gave the company an "outperformer" rating in a report on Friday, May 9th. National Bankshares restated an "outperform" rating on shares of Wheaton Precious Metals in a report on Wednesday, April 23rd. Finally, UBS Group raised their price objective on Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a report on Friday, April 11th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Wheaton Precious Metals has a consensus rating of "Buy" and an average target price of $85.90.
Read Our Latest Research Report on WPM
Wheaton Precious Metals Stock Performance
Shares of NYSE WPM traded up $0.35 during midday trading on Friday, reaching $86.41. 540,291 shares of the company's stock were exchanged, compared to its average volume of 1,674,447. Wheaton Precious Metals Corp. has a 52-week low of $51.96 and a 52-week high of $87.42. The stock has a market capitalization of $39.22 billion, a PE ratio of 64.61, a price-to-earnings-growth ratio of 1.91 and a beta of 0.49. The business's fifty day moving average price is $80.55 and its two-hundred day moving average price is $69.38.
Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.05. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The business had revenue of $470.41 million for the quarter, compared to analyst estimates of $446.33 million. During the same period in the previous year, the company earned $0.36 earnings per share. The company's revenue for the quarter was up 58.4% compared to the same quarter last year. 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 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 0.76%. The ex-dividend date is Wednesday, May 28th. Wheaton Precious Metals's payout ratio is currently 48.53%.
About Wheaton Precious Metals
(
Free Report)
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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