Allspring Global Investments Holdings LLC cut its stake in Wheaton Precious Metals Corp. (NYSE:WPM - Get Rating) by 17.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 380,000 shares of the company's stock after selling 80,000 shares during the period. Allspring Global Investments Holdings LLC owned 0.08% of Wheaton Precious Metals worth $12,296,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in WPM. BlackRock Inc. lifted its stake in Wheaton Precious Metals by 245.5% in the first quarter. BlackRock Inc. now owns 2,530,486 shares of the company's stock valued at $120,401,000 after buying an additional 1,798,086 shares during the period. AMF Tjanstepension AB lifted its stake in Wheaton Precious Metals by 154.3% in the third quarter. AMF Tjanstepension AB now owns 1,852,212 shares of the company's stock valued at $60,319,000 after buying an additional 1,123,931 shares during the period. Renaissance Technologies LLC lifted its stake in Wheaton Precious Metals by 41.7% in the first quarter. Renaissance Technologies LLC now owns 2,787,718 shares of the company's stock valued at $132,641,000 after buying an additional 821,061 shares during the period. Capital World Investors lifted its stake in Wheaton Precious Metals by 4.0% in the first quarter. Capital World Investors now owns 20,592,926 shares of the company's stock valued at $979,811,000 after buying an additional 783,194 shares during the period. Finally, Neuberger Berman Group LLC lifted its stake in Wheaton Precious Metals by 665.2% in the first quarter. Neuberger Berman Group LLC now owns 888,189 shares of the company's stock valued at $42,304,000 after buying an additional 772,118 shares during the period. 57.01% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on WPM shares. National Bank Financial lowered their target price on Wheaton Precious Metals from C$68.00 to C$60.00 in a research report on Thursday, October 13th. Barclays lowered their target price on Wheaton Precious Metals from $41.00 to $40.00 and set an "equal weight" rating on the stock in a research report on Monday, October 17th. Stifel Nicolaus lowered their target price on Wheaton Precious Metals from C$66.50 to C$64.00 in a research report on Wednesday, October 19th. TD Securities lowered their target price on Wheaton Precious Metals from $47.00 to $46.00 and set a "buy" rating on the stock in a research report on Tuesday, November 8th. Finally, TheStreet raised Wheaton Precious Metals from a "c+" rating to a "b-" rating in a research report on Tuesday, November 22nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $52.43.
Wheaton Precious Metals Trading Up 1.8 %
NYSE WPM opened at $44.05 on Friday. The firm has a market capitalization of $19.91 billion, a P/E ratio of 25.03, a PEG ratio of 7.32 and a beta of 0.50. The business has a fifty day simple moving average of $39.14 and a 200 day simple moving average of $35.12. Wheaton Precious Metals Corp. has a 12 month low of $28.62 and a 12 month high of $51.90.
Wheaton Precious Metals (NYSE:WPM - Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.02). The business had revenue of $218.84 million during the quarter, compared to the consensus estimate of $237.90 million. Wheaton Precious Metals had a net margin of 71.79% and a return on equity of 8.35%. As a group, sell-side analysts predict that Wheaton Precious Metals Corp. will post 1.13 EPS for the current fiscal year.
Wheaton Precious Metals Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 1st. Shareholders of record on Monday, November 21st were paid a $0.15 dividend. The ex-dividend date was Friday, November 18th. This represents a $0.60 dividend on an annualized basis and a yield of 1.36%. Wheaton Precious Metals's dividend payout ratio (DPR) is presently 34.09%.
Wheaton Precious Metals Company Profile
Wheaton Precious Metals Corp., a streaming company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has a portfolio of interests in the 23 operating mines and 13 development projects. The company was formerly known as Silver Wheaton Corp.
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