Value Partners Investments Inc. Buys 2,952 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Value Partners Investments Inc. boosted its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 25.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 14,732 shares of the company’s stock after purchasing an additional 2,952 shares during the period. Value Partners Investments Inc.’s holdings in Wheaton Precious Metals were worth $1,144,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Wheaton Precious Metals by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 17,672,518 shares of the company’s stock worth $994,733,000 after purchasing an additional 281,123 shares during the last quarter. FMR LLC lifted its stake in Wheaton Precious Metals by 5.9% in the fourth quarter. FMR LLC now owns 15,529,219 shares of the company’s stock valued at $873,995,000 after purchasing an additional 863,306 shares during the last quarter. Royal Bank of Canada lifted its stake 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 valued at $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 valued at approximately $472,648,000. Finally, TD Asset Management Inc. lifted its stake 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 valued at $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 Analysts Forecast Growth

Several research firms recently commented on WPM. BMO Capital Markets began coverage on Wheaton Precious Metals in a research note on Wednesday, April 16th. They issued an “outperform” rating and a $129.00 price objective on the stock. Wall Street Zen upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Raymond James Financial upped their price objective on Wheaton Precious Metals from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, April 15th. UBS Group upped their price objective on Wheaton Precious Metals from $78.00 to $89.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Finally, Royal Bank Of Canada upped their price objective on Wheaton Precious Metals from $80.00 to $90.00 and gave the company a “sector perform” rating in a research note on Wednesday, June 4th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $86.90.

Wheaton Precious Metals Price Performance

Shares of WPM stock opened at $89.28 on Thursday. The company’s fifty day simple moving average is $85.68 and its two-hundred day simple moving average is $73.12. Wheaton Precious Metals Corp. has a 1 year low of $51.96 and a 1 year high of $95.23. The stock has a market capitalization of $40.53 billion, a price-to-earnings ratio of 65.65, a PEG ratio of 2.71 and a beta of 0.46.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, May 8th. The company reported $0.55 earnings per share (EPS) for the quarter, beating 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 net margin of 42.45% and a return on equity of 10.32%. The business’s revenue for the quarter was up 58.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 EPS. Equities research analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders 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 0.74%. Wheaton Precious Metals’s payout ratio is currently 48.53%.

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.