Northern Trust Corp Increases Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Northern Trust Corp lifted its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 24.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 348,264 shares of the company’s stock after purchasing an additional 67,816 shares during the period. Northern Trust Corp owned approximately 0.08% of Wheaton Precious Metals worth $19,586,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Promus Capital LLC purchased a new position in shares of Wheaton Precious Metals during the 4th quarter worth approximately $32,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Wheaton Precious Metals during the 4th quarter valued at $38,000. Headlands Technologies LLC increased its position in Wheaton Precious Metals by 494.9% during the fourth quarter. Headlands Technologies LLC now owns 696 shares of the company’s stock worth $39,000 after buying an additional 579 shares in the last quarter. Laurel Wealth Advisors LLC purchased a new position in Wheaton Precious Metals during the fourth quarter worth $39,000. Finally, Quintet Private Bank Europe S.A. acquired a new position in shares of Wheaton Precious Metals in the fourth quarter worth $39,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on WPM shares. National Bankshares reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research note on Wednesday, April 23rd. Raymond James lifted their price target on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, April 15th. BMO Capital Markets assumed coverage on shares of Wheaton Precious Metals in a research report on Wednesday, April 16th. They issued an “outperform” rating and a $129.00 price objective for the company. Scotiabank raised their target price on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a “sector outperform” rating in a research report on Monday, April 14th. Finally, UBS Group boosted their price target on Wheaton Precious Metals from $78.00 to $89.00 and gave the company a “buy” rating in a report on Friday, April 11th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $85.90.

Wheaton Precious Metals Stock Performance

Shares of NYSE:WPM opened at $78.50 on Wednesday. The business’s 50-day simple moving average is $78.24 and its 200 day simple moving average is $67.90. The company has a market cap of $35.63 billion, a P/E ratio of 58.58, a PEG ratio of 1.91 and a beta of 0.49. Wheaton Precious Metals Corp. has a one year low of $51.96 and a one year high of $87.42.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. The company had revenue of $470.41 million for the quarter, compared to analyst estimates of $446.33 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The business’s quarterly revenue was up 58.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 earnings per share. Analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be given a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.66 dividend on an annualized basis and a yield of 0.84%. Wheaton Precious Metals’s payout ratio is currently 48.53%.

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.