Royal Bank of Canada Purchases 447,702 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Royal Bank of Canada raised its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 5.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,424,930 shares of the company's stock after acquiring an additional 447,702 shares during the period. Royal Bank of Canada owned approximately 2.08% of Wheaton Precious Metals worth $530,057,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Wheaton Precious Metals during the 4th quarter worth about $20,790,000. Sei Investments Co. increased its position in Wheaton Precious Metals by 25.7% in the 4th quarter. Sei Investments Co. now owns 40,769 shares of the company's stock worth $2,293,000 after buying an additional 8,331 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Wheaton Precious Metals by 9.1% during the fourth quarter. Bank of New York Mellon Corp now owns 399,035 shares of the company's stock worth $22,442,000 after buying an additional 33,256 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Wheaton Precious Metals by 5.7% during the fourth quarter. Pacer Advisors Inc. now owns 4,027 shares of the company's stock worth $226,000 after buying an additional 216 shares during the last quarter. Finally, Addenda Capital Inc. boosted its position in shares of Wheaton Precious Metals by 5.0% in the fourth quarter. Addenda Capital Inc. now owns 1,321,835 shares of the company's stock valued at $74,340,000 after acquiring an additional 62,590 shares during the period. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Stock Performance

NYSE WPM traded down $0.33 during trading on Thursday, reaching $84.94. 573,551 shares of the company traded hands, compared to its average volume of 1,672,935. Wheaton Precious Metals Corp. has a 1-year low of $51.96 and a 1-year high of $87.42. The company has a market cap of $38.55 billion, a price-to-earnings ratio of 63.41, a P/E/G ratio of 1.91 and a beta of 0.49. The stock's 50 day moving average price is $79.30 and its two-hundred day moving average price is $68.46.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its earnings results 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 return on equity of 8.85% and a net margin of 50.05%. The business had revenue of $470.41 million during the quarter, compared to the consensus estimate of $446.33 million. During the same quarter last year, the company earned $0.36 EPS. Wheaton Precious Metals's revenue was up 58.4% on a year-over-year basis. Equities research analysts expect that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

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 dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.78%. Wheaton Precious Metals's payout ratio is presently 48.53%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on WPM shares. Royal Bank of Canada boosted their target price on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a "sector perform" rating in a research report on Friday, April 4th. Stifel Canada upgraded shares of Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. UBS Group increased their target price on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the company a "buy" rating in a research note on Friday, April 11th. CIBC lifted their target price on Wheaton Precious Metals from $95.00 to $105.00 and gave the stock an "outperformer" rating in a research report on Friday, May 9th. Finally, BMO Capital Markets assumed coverage on Wheaton Precious Metals in a report on Wednesday, April 16th. They issued an "outperform" rating and a $129.00 price target for the company. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $85.90.

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.