CWA Asset Management Group LLC bought a new stake in Wheaton Precious Metals Corp. (NYSE:WPM – Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 329,677 shares of the company’s stock, valued at approximately $12,884,000. Wheaton Precious Metals accounts for about 1.0% of CWA Asset Management Group LLC’s investment portfolio, making the stock its 23rd biggest position. CWA Asset Management Group LLC owned approximately 0.07% of Wheaton Precious Metals at the end of the most recent quarter.
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A number of other hedge funds have also recently added to or reduced their stakes in WPM. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Wheaton Precious Metals by 6.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,344,956 shares of the company’s stock worth $301,893,000 after acquiring an additional 361,138 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Wheaton Precious Metals by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 481,497 shares of the company’s stock valued at $22,909,000 after buying an additional 4,497 shares during the last quarter. US Bancorp DE boosted its stake in shares of Wheaton Precious Metals by 4.9% during the first quarter. US Bancorp DE now owns 11,778 shares of the company’s stock worth $561,000 after buying an additional 551 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Wheaton Precious Metals by 21.3% during the first quarter. PNC Financial Services Group Inc. now owns 20,122 shares of the company’s stock worth $957,000 after buying an additional 3,535 shares during the last quarter. Finally, BlackRock Inc. increased its position in Wheaton Precious Metals by 245.5% in the 1st quarter. BlackRock Inc. now owns 2,530,486 shares of the company’s stock valued at $120,401,000 after acquiring an additional 1,798,086 shares during the period. Hedge funds and other institutional investors own 57.01% of the company’s stock.
Wall Street Analysts Forecast Growth
WPM has been the topic of several analyst reports. Barclays lifted their target price on Wheaton Precious Metals from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, January 30th. BMO Capital Markets cut their price objective on shares of Wheaton Precious Metals from $52.00 to $51.00 and set an “outperform” rating for the company in a research report on Friday, March 10th. TheStreet raised shares of Wheaton Precious Metals from a “c+” rating to a “b-” rating in a report on Tuesday, November 22nd. National Bank Financial cut their price target on shares of Wheaton Precious Metals from C$70.00 to C$68.00 in a report on Tuesday, February 14th. Finally, Raymond James lowered their price objective on Wheaton Precious Metals from C$52.00 to C$51.00 and set an “outperform” rating on the stock in a report on Wednesday, February 22nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $54.38.
Wheaton Precious Metals Trading Down 1.4 %
Shares of WPM opened at $43.38 on Friday. Wheaton Precious Metals Corp. has a twelve month low of $28.62 and a twelve month high of $51.90. The firm has a market capitalization of $19.62 billion, a P/E ratio of 29.31, a PEG ratio of 7.60 and a beta of 0.55. The firm’s 50-day moving average is $43.14 and its two-hundred day moving average is $37.95.
Wheaton Precious Metals (NYSE:WPM – Get Rating) last released its quarterly earnings results on Friday, March 10th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The firm had revenue of $236.05 million during the quarter, compared to analyst estimates of $241.70 million. Wheaton Precious Metals had a return on equity of 7.76% and a net margin of 62.83%. The business’s revenue was down 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.29 EPS. Analysts predict that Wheaton Precious Metals Corp. will post 1.16 EPS for the current year.
Wheaton Precious Metals Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 6th. Stockholders of record on Friday, March 24th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Thursday, March 23rd. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 40.54%.
About Wheaton Precious Metals
Wheaton Precious Metals Corp. is a mining company engages in the sale of precious metals and cobalt production. It operates through the following business segments: Gold, Silver, Palladium, Cobalt, and Other. The company was founded by Peter Derek Barnes on December 17, 2004 and is headquartered in Vancouver, Canada.
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