Tocqueville Asset Management L.P. Reduces Stake in Wheaton Precious Metals Corp. (NYSE:WPM)

Tocqueville Asset Management L.P. lowered its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 0.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 676,570 shares of the company’s stock after selling 3,954 shares during the quarter. Tocqueville Asset Management L.P. owned about 0.15% of Wheaton Precious Metals worth $38,050,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Van ECK Associates Corp increased its holdings in shares of Wheaton Precious Metals by 6.4% in the 4th quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company’s stock valued at $1,154,843,000 after acquiring an additional 1,231,999 shares during the last quarter. FMR LLC increased its holdings in shares of Wheaton Precious Metals by 33.7% in the 3rd quarter. FMR LLC now owns 14,665,913 shares of the company’s stock valued at $895,723,000 after acquiring an additional 3,692,594 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Wheaton Precious Metals by 22.5% in the 3rd 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 during the last quarter. Horizon Kinetics Asset Management LLC increased its holdings in shares of Wheaton Precious Metals by 6.4% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 2,931,246 shares of the company’s stock valued at $164,853,000 after acquiring an additional 177,071 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Wheaton Precious Metals by 21.3% in the 3rd quarter. National Bank of Canada FI now owns 2,923,402 shares of the company’s stock valued at $178,551,000 after acquiring an additional 513,890 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Analyst Ratings Changes

WPM has been the subject of a number of research analyst reports. UBS Group initiated coverage on Wheaton Precious Metals in a research report on Monday, November 18th. They issued a “buy” rating and a $78.00 target price for the company. Scotiabank upped their target price on Wheaton Precious Metals from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Monday. Finally, Stifel Canada raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $72.44.

Wheaton Precious Metals Trading Up 2.9 %

Wheaton Precious Metals stock opened at $75.97 on Tuesday. Wheaton Precious Metals Corp. has a twelve month low of $43.18 and a twelve month high of $77.35. The stock has a 50 day moving average of $65.11 and a two-hundred day moving average of $62.80. The stock has a market capitalization of $34.47 billion, a price-to-earnings ratio of 56.69, a PEG ratio of 1.91 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $380.52 million for the quarter, compared to analyst estimates of $395.74 million. During the same period in the previous year, the business posted $0.36 earnings per share. The firm’s revenue was up 21.4% compared to the same quarter last year. Equities analysts predict 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 11th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.87%. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, April 1st. Wheaton Precious Metals’s dividend payout ratio (DPR) 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.