Hsbc Holdings PLC Buys 241,108 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Hsbc Holdings PLC boosted its holdings in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 41.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 826,640 shares of the company's stock after buying an additional 241,108 shares during the quarter. Hsbc Holdings PLC owned 0.18% of Wheaton Precious Metals worth $46,508,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of WPM. Norges Bank acquired a new position in shares of Wheaton Precious Metals in the 4th quarter worth $472,648,000. Capital International Investors acquired a new position in shares of Wheaton Precious Metals in the 4th quarter valued at $263,810,000. Arrowstreet Capital Limited Partnership purchased a new position in Wheaton Precious Metals in the 4th quarter worth about $72,657,000. Van ECK Associates Corp raised its holdings in 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 during the period. Finally, FMR LLC lifted its stake in Wheaton Precious Metals by 5.9% during the fourth quarter. FMR LLC now owns 15,529,219 shares of the company's stock valued at $873,995,000 after buying an additional 863,306 shares in the last quarter. Institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Stock Performance

Shares of WPM traded up $0.48 during mid-day trading on Wednesday, hitting $82.31. The company's stock had a trading volume of 827,574 shares, compared to its average volume of 1,643,428. The stock's 50-day moving average is $75.57 and its two-hundred day moving average is $66.70. Wheaton Precious Metals Corp. has a one year low of $51.80 and a one year high of $87.42. The firm has a market capitalization of $37.35 billion, a PE ratio of 61.40, a price-to-earnings-growth ratio of 1.91 and a beta of 0.74.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its earnings results on Thursday, March 13th. The company reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.01). Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The firm had revenue of $380.52 million during the quarter, compared to analyst estimates of $395.74 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The business's revenue for the quarter was up 21.4% compared to the same quarter last year. Analysts expect that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal 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 given a dividend of $0.165 per share. This is a positive change from Wheaton Precious Metals's previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a dividend yield of 0.80%. The ex-dividend date was Tuesday, April 1st. Wheaton Precious Metals's payout ratio is 56.90%.

Wall Street Analyst Weigh In

WPM has been the topic of a number of recent analyst reports. Scotiabank boosted their price target on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the company a "sector outperform" rating in a report on Monday, April 14th. UBS Group increased their target price on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. BMO Capital Markets started coverage on shares of Wheaton Precious Metals in a research note on Wednesday, April 16th. They issued an "outperform" rating and a $129.00 price target on the stock. Royal Bank of Canada boosted their target price 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. Finally, Raymond James raised their price objective on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the company an "outperform" rating in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Wheaton Precious Metals presently has an average rating of "Buy" and a consensus price target of $83.40.

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.