Geode Capital Management LLC Boosts Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Geode Capital Management LLC lifted its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 5.9% in the third quarter, HoldingsChannel reports. The fund owned 2,002,629 shares of the company’s stock after acquiring an additional 111,769 shares during the period. Geode Capital Management LLC’s holdings in Wheaton Precious Metals were worth $121,939,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ridgewood Investments LLC purchased a new position in Wheaton Precious Metals during the second quarter valued at approximately $31,000. Abich Financial Wealth Management LLC bought a new stake in shares of Wheaton Precious Metals during the 2nd quarter valued at $31,000. Sunbelt Securities Inc. bought a new stake in shares of Wheaton Precious Metals during the 2nd quarter valued at $47,000. St. Johns Investment Management Company LLC purchased a new position in shares of Wheaton Precious Metals during the 3rd quarter valued at $48,000. Finally, Dunhill Financial LLC boosted its holdings in Wheaton Precious Metals by 200.9% in the 3rd quarter. Dunhill Financial LLC now owns 1,050 shares of the company’s stock worth $64,000 after buying an additional 701 shares during the period. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WPM has been the topic of several research analyst reports. TD Securities boosted their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Jefferies Financial Group lifted their price objective on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Raymond James boosted their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Finally, UBS Group started coverage on shares of Wheaton Precious Metals in a report on Monday, November 18th. They set a “buy” rating and a $78.00 price objective for the company. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and a consensus target price of $71.67.

Wheaton Precious Metals Trading Down 0.4 %

Shares of NYSE:WPM opened at $59.76 on Wednesday. The company has a market cap of $27.11 billion, a price-to-earnings ratio of 44.60, a PEG ratio of 1.67 and a beta of 0.75. Wheaton Precious Metals Corp. has a 12 month low of $38.57 and a 12 month high of $68.64. The company has a 50-day moving average price of $63.00 and a 200 day moving average price of $59.84.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. The business had revenue of $308.25 million during the quarter, compared to analyst estimates of $324.57 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. During the same period last year, the company earned $0.27 EPS. As a group, equities analysts forecast that Wheaton Precious Metals Corp. will post 1.44 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 21st were issued a $0.155 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.62 annualized dividend and a dividend yield of 1.04%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 46.27%.

Wheaton Precious Metals Company 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.