Douglas Lane & Associates LLC Raises Stock Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Douglas Lane & Associates LLC increased its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 16.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 477,433 shares of the company’s stock after purchasing an additional 68,984 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.11% of Wheaton Precious Metals worth $22,501,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Fielder Capital Group LLC acquired a new position in Wheaton Precious Metals during the 4th quarter valued at about $1,046,000. King Luther Capital Management Corp acquired a new position in Wheaton Precious Metals during the 4th quarter valued at about $6,154,000. Marketfield Asset Management LLC increased its position in Wheaton Precious Metals by 61.0% during the 4th quarter. Marketfield Asset Management LLC now owns 88,025 shares of the company’s stock valued at $4,343,000 after buying an additional 33,337 shares in the last quarter. Alberta Investment Management Corp increased its position in Wheaton Precious Metals by 0.8% during the 4th quarter. Alberta Investment Management Corp now owns 957,947 shares of the company’s stock valued at $47,491,000 after buying an additional 7,610 shares in the last quarter. Finally, FIL Ltd increased its position in Wheaton Precious Metals by 5.5% during the 4th quarter. FIL Ltd now owns 10,646,479 shares of the company’s stock valued at $525,235,000 after buying an additional 550,804 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on WPM shares. Berenberg Bank upped their target price on Wheaton Precious Metals from $54.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Jefferies Financial Group increased their price objective on Wheaton Precious Metals from $52.00 to $61.00 and gave the company a “buy” rating in a report on Monday, April 22nd. TD Securities raised Wheaton Precious Metals from a “hold” rating to a “buy” rating and increased their price objective for the company from $51.00 to $53.00 in a report on Monday, March 18th. BMO Capital Markets raised their target price on Wheaton Precious Metals from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Finally, Scotiabank raised their target price on Wheaton Precious Metals from $59.00 to $66.50 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and a consensus target price of $61.33.

Wheaton Precious Metals Trading Down 1.6 %

Shares of WPM stock opened at $53.01 on Monday. The company has a market capitalization of $24.04 billion, a P/E ratio of 40.78, a P/E/G ratio of 1.95 and a beta of 0.78. The business’s 50 day moving average is $54.14 and its two-hundred day moving average is $49.22. Wheaton Precious Metals Corp. has a 12-month low of $38.37 and a 12-month high of $57.87.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, May 9th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.07. The business had revenue of $296.80 million for the quarter, compared to the consensus estimate of $278.95 million. Wheaton Precious Metals had a return on equity of 8.53% and a net margin of 53.74%. The business’s quarterly revenue was up 38.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 earnings per share. On average, research analysts predict that Wheaton Precious Metals Corp. will post 1.28 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th were given a $0.155 dividend. The ex-dividend date was Wednesday, May 29th. This represents a $0.62 annualized dividend and a dividend yield of 1.17%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 47.69%.

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.