Metis Global Partners LLC Grows Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Metis Global Partners LLC boosted its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 11.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 44,875 shares of the company’s stock after acquiring an additional 4,442 shares during the period. Metis Global Partners LLC’s holdings in Wheaton Precious Metals were worth $2,214,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WPM. CVA Family Office LLC purchased a new position in shares of Wheaton Precious Metals during the 4th quarter valued at approximately $26,000. McGlone Suttner Wealth Management Inc. bought a new position in Wheaton Precious Metals during the 4th quarter valued at $31,000. Fifth Third Bancorp grew its holdings in Wheaton Precious Metals by 230.7% during the 4th quarter. Fifth Third Bancorp now owns 863 shares of the company’s stock worth $43,000 after acquiring an additional 602 shares in the last quarter. Hexagon Capital Partners LLC increased its position in shares of Wheaton Precious Metals by 30.8% in the 4th quarter. Hexagon Capital Partners LLC now owns 1,159 shares of the company’s stock worth $57,000 after purchasing an additional 273 shares during the last quarter. Finally, Headlands Technologies LLC lifted its position in shares of Wheaton Precious Metals by 2,311.1% during the third quarter. Headlands Technologies LLC now owns 1,519 shares of the company’s stock worth $62,000 after purchasing an additional 1,456 shares during the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on WPM shares. BMO Capital Markets lowered their price target on Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating for the company in a report on Wednesday, February 21st. Raymond James dropped their target price on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating on the stock in a report on Thursday, February 22nd. TD Securities raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating and increased their price objective for the stock from $51.00 to $53.00 in a report on Monday, March 18th. Scotiabank lowered their target price on Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, February 28th. Finally, Berenberg Bank boosted their target price on Wheaton Precious Metals from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and an average target price of $59.32.

Wheaton Precious Metals Trading Down 0.5 %

Shares of WPM stock opened at $53.50 on Tuesday. The stock has a market cap of $24.25 billion, a P/E ratio of 45.18, a price-to-earnings-growth ratio of 7.13 and a beta of 0.75. Wheaton Precious Metals Corp. has a 1 year low of $38.37 and a 1 year high of $54.45. The stock has a 50 day simple moving average of $48.13 and a 200 day simple moving average of $46.95.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, March 14th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. The firm had revenue of $313.47 million for the quarter, compared to analyst estimates of $284.29 million. Wheaton Precious Metals had a net margin of 52.92% and a return on equity of 7.76%. Analysts forecast that Wheaton Precious Metals Corp. will post 1.26 EPS for the current year.

Wheaton Precious Metals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Wednesday, April 3rd were issued a $0.155 dividend. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, April 2nd. This represents a $0.62 annualized dividend and a yield of 1.16%. Wheaton Precious Metals’s payout ratio is presently 52.10%.

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.