Wheaton Precious Metals Corp. $WPM Stake Raised by Avanza Fonder AB

Avanza Fonder AB lifted its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 16.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,851 shares of the company’s stock after buying an additional 6,446 shares during the period. Avanza Fonder AB’s holdings in Wheaton Precious Metals were worth $5,506,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC bought a new position in shares of Wheaton Precious Metals in the third quarter worth $26,000. Root Financial Partners LLC acquired a new position in shares of Wheaton Precious Metals during the third quarter valued at $29,000. Aventura Private Wealth LLC bought a new stake in shares of Wheaton Precious Metals during the fourth quarter valued at about $34,000. Triumph Capital Management acquired a new stake in Wheaton Precious Metals in the third quarter worth about $33,000. Finally, Pacifica Partners Inc. grew its position in Wheaton Precious Metals by 27.8% in the 3rd quarter. Pacifica Partners Inc. now owns 460 shares of the company’s stock valued at $51,000 after buying an additional 100 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Price Performance

NYSE WPM opened at $119.56 on Tuesday. The company’s 50 day simple moving average is $143.18 and its 200 day simple moving average is $120.74. Wheaton Precious Metals Corp. has a 12 month low of $68.03 and a 12 month high of $165.76. The company has a market capitalization of $54.29 billion, a P/E ratio of 36.90, a PEG ratio of 1.66 and a beta of 0.50.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, March 12th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.31. The firm had revenue of $864.71 million during the quarter, compared to analysts’ expectations of $719.59 million. Wheaton Precious Metals had a net margin of 63.58% and a return on equity of 17.17%. The firm’s revenue for the quarter was up 127.3% compared to the same quarter last year. During the same period last year, the firm posted $0.44 earnings per share. On average, analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.195 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.17. Wheaton Precious Metals’s dividend payout ratio is 20.37%.

Wall Street Analysts Forecast Growth

WPM has been the topic of several research analyst reports. TD Securities raised their target price on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Scotiabank upped their price target on shares of Wheaton Precious Metals from $175.00 to $178.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wheaton Precious Metals in a report on Monday, December 29th. Royal Bank Of Canada raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $115.00 to $130.00 in a report on Wednesday, December 10th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. Twelve equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and an average target price of $145.18.

Wheaton Precious Metals Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.