Douglas Lane & Associates LLC Buys 13,388 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Douglas Lane & Associates LLC raised its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 2.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 515,605 shares of the company’s stock after purchasing an additional 13,388 shares during the quarter. Douglas Lane & Associates LLC owned 0.11% of Wheaton Precious Metals worth $28,998,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Versant Capital Management Inc purchased a new position in shares of Wheaton Precious Metals during the fourth quarter valued at about $29,000. Abich Financial Wealth Management LLC bought a new position in shares of Wheaton Precious Metals in the 2nd quarter worth approximately $31,000. GAMMA Investing LLC purchased a new stake in Wheaton Precious Metals in the fourth quarter worth $41,000. Sunbelt Securities Inc. purchased a new position in Wheaton Precious Metals during the second quarter valued at $47,000. Finally, St. Johns Investment Management Company LLC bought a new stake in shares of Wheaton Precious Metals during the 3rd quarter valued at $48,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Trading Up 2.0 %

NYSE:WPM traded up $1.12 during midday trading on Wednesday, hitting $57.96. 885,412 shares of the company traded hands, compared to its average volume of 1,300,120. The firm has a market capitalization of $26.29 billion, a P/E ratio of 43.25, a P/E/G ratio of 1.67 and a beta of 0.76. The firm’s fifty day moving average is $60.76 and its 200-day moving average is $60.26. Wheaton Precious Metals Corp. has a 12-month low of $38.57 and a 12-month high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. The firm had revenue of $308.25 million during the quarter, compared to analysts’ expectations of $324.57 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. During the same period in the previous year, the company earned $0.27 EPS. On average, research analysts expect that Wheaton Precious Metals Corp. will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 21st were paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio is presently 46.27%.

Wall Street Analyst Weigh In

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

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.