Golden State Wealth Management LLC grew its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 100.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,200 shares of the company’s stock after acquiring an additional 1,100 shares during the quarter. Golden State Wealth Management LLC’s holdings in Wheaton Precious Metals were worth $171,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Wheaton Precious Metals by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 17,672,518 shares of the company’s stock worth $994,733,000 after buying an additional 281,123 shares in the last quarter. FMR LLC boosted its position in Wheaton Precious Metals by 5.9% in the fourth quarter. FMR LLC now owns 15,529,219 shares of the company’s stock worth $873,995,000 after purchasing an additional 863,306 shares during the last quarter. Royal Bank of Canada boosted its position in Wheaton Precious Metals by 5.0% in the fourth quarter. Royal Bank of Canada now owns 9,424,930 shares of the company’s stock worth $530,057,000 after purchasing an additional 447,702 shares during the last quarter. Norges Bank purchased a new position in Wheaton Precious Metals in the fourth quarter worth $472,648,000. Finally, TD Asset Management Inc. boosted its position in Wheaton Precious Metals by 9.6% in the fourth quarter. TD Asset Management Inc. now owns 7,156,818 shares of the company’s stock worth $402,627,000 after purchasing an additional 629,743 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. Raymond James Financial boosted their price objective on Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 15th. Scotiabank boosted their price objective on Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a “sector outperform” rating in a research report on Monday, April 14th. Wall Street Zen raised Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. CIBC upped their price target on Wheaton Precious Metals from $95.00 to $105.00 and gave the company an “outperformer” rating in a research report on Friday, May 9th. Finally, UBS Group upped their price target on Wheaton Precious Metals from $78.00 to $89.00 and gave the company a “buy” rating in a research report on Friday, April 11th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $92.75.
Wheaton Precious Metals Stock Performance
Shares of WPM opened at $87.30 on Friday. The stock’s 50-day simple moving average is $85.86 and its 200 day simple moving average is $73.56. The stock has a market capitalization of $39.63 billion, a price-to-earnings ratio of 64.19, a price-to-earnings-growth ratio of 2.66 and a beta of 0.46. Wheaton Precious Metals Corp. has a 52-week low of $51.96 and a 52-week high of $95.23.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. The business had revenue of $470.41 million for the quarter, compared to analysts’ expectations of $446.33 million. Wheaton Precious Metals had a return on equity of 10.32% and a net margin of 42.45%. The firm’s quarterly revenue was up 58.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 EPS. On average, research analysts forecast that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.
Wheaton Precious Metals Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were issued a $0.165 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $0.66 annualized dividend and a dividend yield of 0.76%. Wheaton Precious Metals’s payout ratio is currently 48.53%.
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.
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