Wheaton Precious Metals Corp. $WPM Stock Position Raised by Generate Investment Management Ltd

Generate Investment Management Ltd grew its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 83.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 110,000 shares of the company’s stock after acquiring an additional 50,000 shares during the quarter. Generate Investment Management Ltd’s holdings in Wheaton Precious Metals were worth $14,709,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC raised its position in shares of Wheaton Precious Metals by 245.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock valued at $29,000 after purchasing an additional 162 shares during the last quarter. Hollencrest Capital Management grew its position in Wheaton Precious Metals by 73.5% during the 1st quarter. Hollencrest Capital Management now owns 236 shares of the company’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. Wellington Altus USA Inc. increased its stake in Wheaton Precious Metals by 446.7% during the 2nd quarter. Wellington Altus USA Inc. now owns 328 shares of the company’s stock valued at $37,000 after purchasing an additional 268 shares in the last quarter. Hickory Point Bank & Trust acquired a new position in Wheaton Precious Metals during the 3rd quarter valued at approximately $40,000. Finally, Bangor Savings Bank acquired a new position in Wheaton Precious Metals during the 3rd quarter valued at approximately $40,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Weiss Ratings raised shares of Wheaton Precious Metals from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday. Berenberg Bank set a $157.00 price objective on shares of Wheaton Precious Metals in a report on Tuesday, July 28th. Bank of America cut their target price on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Jefferies Financial Group reduced their target price on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Finally, Royal Bank Of Canada lifted their price target on Wheaton Precious Metals from $160.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 16th. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $172.11.

Wheaton Precious Metals Stock Performance

NYSE:WPM traded down $6.30 during midday trading on Wednesday, hitting $129.73. The company’s stock had a trading volume of 845,924 shares, compared to its average volume of 2,197,109. Wheaton Precious Metals Corp. has a fifty-two week low of $92.57 and a fifty-two week high of $165.76. The firm’s 50 day moving average is $144.24 and its 200-day moving average is $131.48. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.47 and a quick ratio of 0.47. The firm has a market cap of $58.92 billion, a P/E ratio of 28.79, a P/E/G ratio of 2.52 and a beta of 0.54.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The company had revenue of $878.00 million during the quarter, compared to analyst estimates of $879.29 million. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. Wheaton Precious Metals’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period last year, the firm posted $0.63 EPS. Equities analysts anticipate that Wheaton Precious Metals Corp. will post 4.80 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were issued a dividend of $0.1950 per share. This represents a $0.78 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 20th. Wheaton Precious Metals’s dividend payout ratio (DPR) is 17.29%.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a precious metals streaming company headquartered in Vancouver, Canada. Rather than operating mines directly, the company provides mining companies with upfront financing in exchange for the right to purchase a portion of the gold, silver, palladium, cobalt and other metals produced by designated mining operations at predetermined prices.

Wheaton’s streaming portfolio is supported by agreements with mining operations in the Americas and other regions, including Canada, the United States, Mexico, Peru, Brazil and Chile.