4,531 Shares in Wheaton Precious Metals Corp. (NYSE:WPM) Acquired by Brookstone Capital Management

Brookstone Capital Management purchased a new position in Wheaton Precious Metals Corp. (NYSE:WPM) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 4,531 shares of the company’s stock, valued at approximately $224,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Sprott Inc. grew its holdings in shares of Wheaton Precious Metals by 4.8% in the 3rd quarter. Sprott Inc. now owns 799,533 shares of the company’s stock worth $32,421,000 after acquiring an additional 36,654 shares during the period. Deutsche Bank AG grew its holdings in shares of Wheaton Precious Metals by 4.4% in the 3rd quarter. Deutsche Bank AG now owns 3,623,133 shares of the company’s stock worth $146,918,000 after acquiring an additional 152,826 shares during the period. Douglas Lane & Associates LLC grew its holdings in shares of Wheaton Precious Metals by 186.9% in the 3rd quarter. Douglas Lane & Associates LLC now owns 310,914 shares of the company’s stock worth $12,608,000 after acquiring an additional 202,539 shares during the period. Vanguard Group Inc. lifted its stake in Wheaton Precious Metals by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 16,203,069 shares of the company’s stock valued at $657,034,000 after buying an additional 248,541 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Wheaton Precious Metals by 18.3% in the 3rd quarter. Mackenzie Financial Corp now owns 3,411,151 shares of the company’s stock valued at $133,849,000 after buying an additional 527,358 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WPM. Scotiabank reduced their target price on Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, February 28th. BMO Capital Markets reduced their target price on Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. CIBC upped their target price on Wheaton Precious Metals from $66.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Jefferies Financial Group began coverage on Wheaton Precious Metals in a research note on Thursday, February 29th. They issued a “buy” rating and a $49.00 target price on the stock. Finally, Berenberg Bank upped their target price on Wheaton Precious Metals from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $60.81.

Wheaton Precious Metals Stock Up 3.7 %

WPM stock opened at $46.29 on Thursday. The company has a market cap of $20.97 billion, a price-to-earnings ratio of 38.90, a PEG ratio of 11.66 and a beta of 0.76. The business has a fifty day simple moving average of $44.54 and a 200-day simple moving average of $45.03. Wheaton Precious Metals Corp. has a 52 week low of $38.37 and a 52 week high of $52.76.

Wheaton Precious Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Wednesday, April 3rd will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.34%. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, April 2nd. Wheaton Precious Metals’s dividend payout ratio is presently 50.42%.

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 10, 2017. Wheaton Precious Metals Corp.