Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in Wheaton Precious Metals Corp. (NYSE:WPM)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 19.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 202,140 shares of the company’s stock after buying an additional 32,311 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Wheaton Precious Metals were worth $10,021,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of WPM. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Wheaton Precious Metals by 6.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,344,956 shares of the company’s stock worth $301,893,000 after acquiring an additional 361,138 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Wheaton Precious Metals by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 481,497 shares of the company’s stock valued at $22,909,000 after purchasing an additional 4,497 shares in the last quarter. US Bancorp DE raised its position in Wheaton Precious Metals by 4.9% in the first quarter. US Bancorp DE now owns 11,778 shares of the company’s stock valued at $561,000 after purchasing an additional 551 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Wheaton Precious Metals by 21.3% during the first quarter. PNC Financial Services Group Inc. now owns 20,122 shares of the company’s stock worth $957,000 after purchasing an additional 3,535 shares in the last quarter. Finally, BlackRock Inc. boosted its position in shares of Wheaton Precious Metals by 245.5% in the first quarter. BlackRock Inc. now owns 2,530,486 shares of the company’s stock worth $120,401,000 after buying an additional 1,798,086 shares during the period. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

Shares of NYSE:WPM opened at $52.65 on Friday. The company’s fifty day moving average is $45.86 and its two-hundred day moving average is $45.97. Wheaton Precious Metals Corp. has a 1-year low of $38.37 and a 1-year high of $54.30. The stock has a market capitalization of $23.87 billion, a price-to-earnings ratio of 44.24, a price-to-earnings-growth ratio of 7.23 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, March 14th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. The business had revenue of $313.47 million during the quarter, compared to the consensus estimate of $284.29 million. Wheaton Precious Metals had a net margin of 52.92% and a return on equity of 7.76%. Sell-side analysts expect that Wheaton Precious Metals Corp. will post 1.24 EPS for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Wednesday, April 3rd were paid a dividend of $0.155 per share. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, April 2nd. This represents a $0.62 annualized dividend and a yield of 1.18%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 52.10%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on WPM shares. National Bank Financial downgraded Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, February 21st. CIBC boosted their target price on shares of Wheaton Precious Metals from $66.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Scotiabank lowered their price target on shares of Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating for the company in a report on Wednesday, February 28th. Jefferies Financial Group started coverage on shares of Wheaton Precious Metals in a research note on Thursday, February 29th. They set a “buy” rating and a $49.00 price target on the stock. Finally, BMO Capital Markets decreased their price objective on shares of Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating for the company in a research report on Wednesday, February 21st. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.63.

Wheaton Precious Metals Company 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.