Fmr LLC Buys 3,692,594 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Fmr LLC boosted its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 33.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,665,913 shares of the company’s stock after purchasing an additional 3,692,594 shares during the quarter. Fmr LLC’s holdings in Wheaton Precious Metals were worth $895,723,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Ridgewood Investments LLC acquired a new stake in shares of Wheaton Precious Metals in the 2nd quarter valued at approximately $31,000. Abich Financial Wealth Management LLC acquired a new stake in Wheaton Precious Metals in the second quarter worth $31,000. St. Johns Investment Management Company LLC bought a new position in shares of Wheaton Precious Metals during the third quarter worth $48,000. Sunbelt Securities Inc. acquired a new position in shares of Wheaton Precious Metals in the 2nd quarter valued at $47,000. Finally, First Horizon Advisors Inc. bought a new stake in shares of Wheaton Precious Metals in the 3rd quarter valued at $67,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Analyst Upgrades and Downgrades

WPM has been the topic of several recent analyst reports. Raymond James lifted their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. TD Securities boosted their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Stifel Canada downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Scotiabank increased their price objective on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Finally, Jefferies Financial Group raised their price objective on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, October 4th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.67.

Wheaton Precious Metals Trading Down 0.5 %

Shares of WPM stock opened at $61.74 on Thursday. The firm’s fifty day moving average price is $62.99 and its two-hundred day moving average price is $59.29. Wheaton Precious Metals Corp. has a 1 year low of $38.57 and a 1 year high of $68.64. The firm has a market capitalization of $28.01 billion, a P/E ratio of 46.07, a PEG ratio of 2.23 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The business had revenue of $308.25 million for the quarter, compared to the consensus estimate of $324.57 million. During the same quarter in the previous year, the business earned $0.27 earnings per share. As a group, equities research analysts forecast that Wheaton Precious Metals Corp. will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 21st will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Thursday, November 21st. Wheaton Precious Metals’s payout ratio is presently 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.