Mirae Asset Global Investments Co. Ltd. Trims Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Mirae Asset Global Investments Co. Ltd. lessened its holdings in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 10.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,330,536 shares of the company's stock after selling 532,310 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.96% of Wheaton Precious Metals worth $213,669,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. West Family Investments Inc. boosted its stake in shares of Wheaton Precious Metals by 0.6% in the 2nd quarter. West Family Investments Inc. now owns 43,777 shares of the company's stock valued at $1,892,000 after purchasing an additional 249 shares during the last quarter. Parsons Capital Management Inc. RI boosted its stake in Wheaton Precious Metals by 0.4% during the 3rd quarter. Parsons Capital Management Inc. RI now owns 57,361 shares of the company's stock worth $2,326,000 after acquiring an additional 250 shares during the last quarter. Transatlantique Private Wealth LLC boosted its stake in Wheaton Precious Metals by 3.6% during the 3rd quarter. Transatlantique Private Wealth LLC now owns 7,808 shares of the company's stock worth $317,000 after acquiring an additional 270 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in Wheaton Precious Metals by 54.7% during the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 792 shares of the company's stock worth $31,000 after acquiring an additional 280 shares during the last quarter. Finally, Prospera Financial Services Inc lifted its stake in Wheaton Precious Metals by 2.0% in the first quarter. Prospera Financial Services Inc now owns 15,419 shares of the company's stock valued at $743,000 after buying an additional 299 shares in the last quarter. Institutional investors own 70.34% of the company's stock.

Wall Street Analysts Forecast Growth

WPM has been the topic of a number of research reports. BMO Capital Markets cut their price target on shares of Wheaton Precious Metals from $61.00 to $59.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 21st. Raymond James lowered their price objective on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a "market perform" rating on the stock in a report on Thursday, February 22nd. Jefferies Financial Group began coverage on shares of Wheaton Precious Metals in a report on Thursday, February 29th. They issued a "buy" rating and a $49.00 price objective on the stock. Berenberg Bank boosted their target price on shares of Wheaton Precious Metals from $52.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, March 27th. Finally, TD Securities upgraded shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating and boosted their target price for the stock from $51.00 to $53.00 in a report on Monday, March 18th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $59.63.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock traded up $0.54 on Friday, hitting $50.57. The stock had a trading volume of 1,885,103 shares, compared to its average volume of 1,969,309. The firm has a market capitalization of $22.91 billion, a P/E ratio of 42.50, a PEG ratio of 13.13 and a beta of 0.77. The stock has a 50 day moving average of $44.89 and a 200 day moving average of $45.30. Wheaton Precious Metals Corp. has a twelve month low of $38.37 and a twelve month high of $52.76.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its earnings results on Thursday, March 14th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.04. The business had revenue of $313.47 million during the quarter, compared to the consensus estimate of $284.29 million. Wheaton Precious Metals had a net margin of 52.92% and a return on equity of 7.76%. Equities analysts expect that Wheaton Precious Metals Corp. will post 1.21 earnings per share for the current year.

Wheaton Precious Metals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Wednesday, April 3rd will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Tuesday, April 2nd. This is an increase from Wheaton Precious Metals's previous quarterly dividend of $0.15. Wheaton Precious Metals's dividend payout ratio is currently 52.10%.

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.