Magnetar Financial LLC Takes Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Magnetar Financial LLC bought a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 14,495 shares of the company’s stock, valued at approximately $815,000.

A number of other large investors have also modified their holdings of the stock. Generali Asset Management SPA SGR acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at about $26,848,000. Flagship Wealth Advisors LLC purchased a new stake in Wheaton Precious Metals during the 4th quarter worth approximately $41,000. Horizon Kinetics Asset Management LLC increased its holdings in Wheaton Precious Metals by 6.4% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 2,931,246 shares of the company’s stock worth $164,853,000 after purchasing an additional 177,071 shares during the last quarter. Signaturefd LLC increased its holdings in Wheaton Precious Metals by 1.5% during the 4th quarter. Signaturefd LLC now owns 11,877 shares of the company’s stock worth $668,000 after purchasing an additional 178 shares during the last quarter. Finally, United Capital Management of KS Inc. purchased a new stake in Wheaton Precious Metals during the 4th quarter worth approximately $347,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Stifel Canada upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Scotiabank boosted their price target on Wheaton Precious Metals from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 17th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Wheaton Precious Metals presently has an average rating of “Buy” and an average target price of $72.44.

Wheaton Precious Metals Stock Performance

WPM opened at $75.02 on Friday. Wheaton Precious Metals Corp. has a one year low of $44.57 and a one year high of $77.44. The stock’s fifty day moving average is $66.57 and its 200-day moving average is $63.17. The company has a market capitalization of $34.03 billion, a PE ratio of 55.98, a P/E/G ratio of 1.91 and a beta of 0.76.

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

Wheaton Precious Metals Increases Dividend

The business also recently announced 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 is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.88%. Wheaton Precious Metals’s payout ratio is 49.25%.

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.