Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. Makes New Investment in Wheaton Precious Metals Corp. (NYSE:WPM)

Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. bought a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 21,500 shares of the company’s stock, valued at approximately $1,211,000. Wheaton Precious Metals makes up 1.7% of Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.’s holdings, making the stock its 9th largest position.

Several other institutional investors also recently modified their holdings of WPM. Orion Portfolio Solutions LLC boosted its holdings in Wheaton Precious Metals by 4.4% in the fourth quarter. Orion Portfolio Solutions LLC now owns 6,120 shares of the company’s stock worth $344,000 after acquiring an additional 258 shares in the last quarter. Pictet Asset Management Holding SA grew its position in Wheaton Precious Metals by 19.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 246,939 shares of the company’s stock valued at $13,892,000 after purchasing an additional 39,572 shares during the last quarter. Norges Bank bought a new stake in Wheaton Precious Metals during the 4th quarter valued at about $472,648,000. Korea Investment CORP raised its holdings in Wheaton Precious Metals by 55.8% in the fourth quarter. Korea Investment CORP now owns 294,909 shares of the company’s stock worth $16,591,000 after buying an additional 105,573 shares during the last quarter. Finally, Mufg Securities Canada LTD. lifted its stake in shares of Wheaton Precious Metals by 72.1% in the fourth quarter. Mufg Securities Canada LTD. now owns 692,766 shares of the company’s stock worth $38,968,000 after buying an additional 290,192 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WPM has been the subject of a number of recent analyst reports. Scotiabank upped their price objective on Wheaton Precious Metals from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Monday, March 17th. Stifel Canada raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Buy” and an average target price of $72.44.

Wheaton Precious Metals Stock Performance

NYSE:WPM opened at $76.86 on Friday. The stock has a 50-day simple moving average of $68.44 and a two-hundred day simple moving average of $63.75. The firm has a market capitalization of $34.87 billion, a PE ratio of 57.36, a P/E/G ratio of 1.91 and a beta of 0.77. Wheaton Precious Metals Corp. has a 52-week low of $47.02 and a 52-week high of $77.86.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, March 13th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01). Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The firm had revenue of $380.52 million during the quarter, compared to analysts’ expectations of $395.74 million. During the same period in the prior year, the company posted $0.36 earnings per share. The company’s revenue was up 21.4% compared to the same quarter last year. Equities analysts forecast that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.66 annualized dividend and a dividend yield of 0.86%. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.16. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 56.90%.

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.