M&G Investment Management Ltd. reduced its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 0.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 249,840 shares of the company’s stock after selling 544 shares during the period. M&G Investment Management Ltd. owned approximately 0.06% of Wheaton Precious Metals worth $9,542,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Childress Capital Advisors LLC purchased a new position in Wheaton Precious Metals in the 4th quarter valued at about $26,000. Allworth Financial LP lifted its stake in Wheaton Precious Metals by 59.6% in the 1st quarter. Allworth Financial LP now owns 723 shares of the company’s stock valued at $28,000 after buying an additional 270 shares in the last quarter. Tradewinds Capital Management LLC lifted its stake in Wheaton Precious Metals by 84.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 884 shares of the company’s stock valued at $34,000 after buying an additional 404 shares in the last quarter. Allred Capital Management LLC purchased a new position in Wheaton Precious Metals in the 1st quarter valued at about $38,000. Finally, HighMark Wealth Management LLC lifted its stake in Wheaton Precious Metals by 49.1% in the 1st quarter. HighMark Wealth Management LLC now owns 1,215 shares of the company’s stock valued at $46,000 after buying an additional 400 shares in the last quarter. 55.78% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on the stock. Canaccord Genuity reaffirmed a “buy” rating and issued a $82.00 price target on shares of Wheaton Precious Metals in a research note on Thursday, March 18th. Berenberg Bank reiterated a “buy” rating on shares of Wheaton Precious Metals in a report on Wednesday, April 7th. TD Securities reiterated a “buy” rating and issued a $76.00 price objective (up previously from $60.00) on shares of Wheaton Precious Metals in a report on Tuesday, March 16th. BMO Capital Markets upgraded shares of Wheaton Precious Metals from a “market perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a report on Monday, March 15th. Finally, Raymond James raised their price target on shares of Wheaton Precious Metals from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Wheaton Precious Metals has an average rating of “Buy” and an average price target of $56.83.
Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Thursday, May 6th. The company reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. The business had revenue of $324.12 million for the quarter, compared to analyst estimates of $335.94 million. Wheaton Precious Metals had a net margin of 49.33% and a return on equity of 9.95%. The business’s revenue was up 27.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.22 earnings per share. As a group, analysts expect that Wheaton Precious Metals Corp. will post 1.51 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 3rd. Investors of record on Friday, May 21st were issued a dividend of $0.14 per share. The ex-dividend date was Thursday, May 20th. This represents a $0.56 dividend on an annualized basis and a yield of 1.14%. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.13. Wheaton Precious Metals’s payout ratio is currently 19.64%.
About Wheaton Precious Metals
Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has agreements for 24 operating mining assets and 7 development stage projects. The company was formerly known as Silver Wheaton Corp.
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