Avanza Fonder AB Invests $2.46 Million in Wheaton Precious Metals Corp. (NYSE:WPM)

Avanza Fonder AB acquired a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 43,654 shares of the company’s stock, valued at approximately $2,455,000.

Other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its position in Wheaton Precious Metals by 33.7% during the third quarter. FMR LLC now owns 14,665,913 shares of the company’s stock valued at $895,723,000 after purchasing an additional 3,692,594 shares in the last quarter. Canoe Financial LP bought a new position in Wheaton Precious Metals in the 3rd quarter worth $113,017,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in 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 worth $76,061,000 after buying an additional 1,182,156 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Wheaton Precious Metals by 90.5% during the second quarter. Clearbridge Investments LLC now owns 1,344,131 shares of the company’s stock valued at $70,461,000 after acquiring an additional 638,425 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Wheaton Precious Metals by 22.5% in the third quarter. The Manufacturers Life Insurance Company now owns 3,456,230 shares of the company’s stock valued at $211,207,000 after acquiring an additional 634,843 shares in the last quarter. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Trading Up 0.4 %

WPM opened at $57.74 on Friday. The stock has a 50-day moving average of $59.52 and a 200 day moving average of $60.46. Wheaton Precious Metals Corp. has a 12 month low of $38.57 and a 12 month high of $68.64. The firm has a market cap of $26.19 billion, a P/E ratio of 43.09, a P/E/G ratio of 1.28 and a beta of 0.76.

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

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 21st were paid a dividend of $0.155 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.07%. Wheaton Precious Metals’s dividend payout ratio is presently 46.27%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WPM. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Jefferies Financial Group lifted their price objective on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Raymond James boosted their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Stifel Canada cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Finally, UBS Group assumed coverage on shares of Wheaton Precious Metals in a research note on Monday, November 18th. They issued a “buy” rating and a $78.00 price target on the stock. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.67.

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.