Zurich Insurance Group Ltd FI Takes Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Zurich Insurance Group Ltd FI bought a new stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,500 shares of the company's stock, valued at approximately $1,715,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Promus Capital LLC bought a new position in shares of Wheaton Precious Metals during the fourth quarter valued at about $32,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Wheaton Precious Metals during the fourth quarter valued at about $38,000. Quintet Private Bank Europe S.A. bought a new position in shares of Wheaton Precious Metals during the fourth quarter valued at about $39,000. Headlands Technologies LLC grew its stake in shares of Wheaton Precious Metals by 494.9% during the fourth quarter. Headlands Technologies LLC now owns 696 shares of the company's stock valued at $39,000 after buying an additional 579 shares during the last quarter. Finally, Flagship Wealth Advisors LLC bought a new position in shares of Wheaton Precious Metals during the fourth quarter valued at about $41,000. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Stock Performance

Shares of NYSE WPM traded up $2.11 during trading hours on Friday, hitting $86.67. The company's stock had a trading volume of 1,505,247 shares, compared to its average volume of 1,674,956. Wheaton Precious Metals Corp. has a 12 month low of $51.96 and a 12 month high of $87.42. The business has a 50-day simple moving average of $79.69 and a 200-day simple moving average of $68.75. The stock has a market cap of $39.33 billion, a price-to-earnings ratio of 64.68, a P/E/G ratio of 1.91 and a beta of 0.49.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.55 EPS for the quarter, topping the consensus estimate 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 business had revenue of $470.41 million during the quarter, compared to analyst estimates of $446.33 million. During the same period last year, the business posted $0.36 earnings per share. Wheaton Precious Metals's quarterly revenue was up 58.4% compared to the same quarter last year. On average, equities research analysts forecast that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be issued a $0.165 dividend. The ex-dividend date is Wednesday, May 28th. This represents a $0.66 annualized dividend and a yield of 0.76%. Wheaton Precious Metals's dividend payout ratio (DPR) is presently 48.53%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WPM. Raymond James raised their price objective on Wheaton Precious Metals from $88.00 to $90.00 and gave the company an "outperform" rating in a research note on Tuesday, April 15th. Royal Bank of Canada raised their price objective on Wheaton Precious Metals from $75.00 to $80.00 and gave the company a "sector perform" rating in a research note on Friday, April 4th. National Bankshares reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research note on Wednesday, April 23rd. CIBC raised their target price on Wheaton Precious Metals from $95.00 to $105.00 and gave the stock an "outperformer" rating in a research note on Friday, May 9th. Finally, Scotiabank raised their target price on 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. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $85.90.

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.