Forsta AP Fonden Grows Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Forsta AP Fonden boosted its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,500 shares of the company’s stock after purchasing an additional 1,100 shares during the quarter. Forsta AP Fonden’s holdings in Wheaton Precious Metals were worth $5,541,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. FMR LLC increased its stake in shares of Wheaton Precious Metals by 33.7% during the third quarter. FMR LLC now owns 14,665,913 shares of the company’s stock worth $895,723,000 after buying an additional 3,692,594 shares during the period. Canoe Financial LP purchased a new stake in shares of Wheaton Precious Metals in the 3rd quarter valued at approximately $113,017,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Wheaton Precious Metals by 1,865.2% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,245,534 shares of the company’s stock valued at $76,061,000 after purchasing an additional 1,182,156 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Wheaton Precious Metals by 22.5% during the third quarter. The Manufacturers Life Insurance Company now owns 3,456,230 shares of the company’s stock worth $211,207,000 after purchasing an additional 634,843 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in Wheaton Precious Metals by 21.3% in the third quarter. National Bank of Canada FI now owns 2,923,402 shares of the company’s stock valued at $178,551,000 after buying an additional 513,890 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

WPM has been the subject of a number of recent analyst reports. TD Securities lifted their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Raymond James upped their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 25th. National Bank Financial upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Jefferies Financial Group boosted their price objective on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, Stifel Canada downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $71.67.

Wheaton Precious Metals Stock Performance

NYSE WPM opened at $62.40 on Friday. The firm’s fifty day moving average is $59.30 and its two-hundred day moving average is $60.64. Wheaton Precious Metals Corp. has a one year low of $38.57 and a one year high of $68.64. The firm has a market cap of $28.31 billion, a PE ratio of 46.57, a P/E/G ratio of 1.54 and a beta of 0.76.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The firm had revenue of $308.25 million for the quarter, compared to analysts’ expectations of $324.57 million. During the same quarter in the previous year, the firm posted $0.27 EPS. Research analysts predict that Wheaton Precious Metals Corp. will post 1.45 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Thursday, November 21st were paid a $0.155 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.62 annualized dividend and a yield of 0.99%. Wheaton Precious Metals’s dividend payout ratio is currently 46.27%.

Wheaton Precious Metals Company 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.