J.W. Cole Advisors Inc. Grows Position in Wheaton Precious Metals Corp. (NYSE:WPM)

J.W. Cole Advisors Inc. raised its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 10.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 7,248 shares of the company’s stock after acquiring an additional 699 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Wheaton Precious Metals were worth $358,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in WPM. Massachusetts Financial Services Co. MA lifted its holdings in Wheaton Precious Metals by 10.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,585,266 shares of the company’s stock valued at $307,583,000 after purchasing an additional 713,381 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in Wheaton Precious Metals by 3.2% during the third quarter. First Eagle Investment Management LLC now owns 20,998,263 shares of the company’s stock valued at $851,480,000 after purchasing an additional 644,746 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in Wheaton Precious Metals by 18.3% during the third quarter. Mackenzie Financial Corp now owns 3,411,151 shares of the company’s stock valued at $133,849,000 after purchasing an additional 527,358 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Wheaton Precious Metals by 22.1% during the third quarter. JPMorgan Chase & Co. now owns 2,586,800 shares of the company’s stock valued at $104,895,000 after purchasing an additional 468,782 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Wheaton Precious Metals by 4,659.7% in the fourth quarter. International Assets Investment Management LLC now owns 326,040 shares of the company’s stock worth $16,087,000 after buying an additional 319,190 shares in the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WPM has been the topic of a number of recent analyst reports. Raymond James lowered their price target on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating on the stock in a report on Thursday, February 22nd. National Bank Financial downgraded shares of Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, February 21st. BMO Capital Markets lowered their price target on shares of Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating on the stock in a report on Wednesday, February 21st. CIBC upped their price objective 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. Finally, Scotiabank decreased their price objective on shares of Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $59.32.

Wheaton Precious Metals Price Performance

Shares of NYSE WPM opened at $52.55 on Thursday. Wheaton Precious Metals Corp. has a one year low of $38.37 and a one year high of $54.30. The firm’s 50 day simple moving average is $46.17 and its two-hundred day simple moving average is $46.24. The stock has a market capitalization of $23.82 billion, a P/E ratio of 44.16, a PEG ratio of 7.36 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, March 14th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.04. The company had revenue of $313.47 million during the quarter, compared to analysts’ expectations of $284.29 million. Wheaton Precious Metals had a return on equity of 7.76% and a net margin of 52.92%. As a group, equities analysts expect that Wheaton Precious Metals Corp. will post 1.21 earnings per share for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Wednesday, April 3rd were issued a dividend of $0.155 per share. The ex-dividend date of this dividend was Tuesday, April 2nd. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.15. This represents a $0.62 annualized dividend and a yield of 1.18%. Wheaton Precious Metals’s dividend payout ratio is currently 52.10%.

About Wheaton Precious Metals

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.