Blueshift Asset Management LLC Makes New $321,000 Investment in Wheaton Precious Metals Corp. (NYSE:WPM)

Blueshift Asset Management LLC bought a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,256 shares of the company’s stock, valued at approximately $321,000.

Several other institutional investors and hedge funds have also recently modified their holdings of WPM. FMR LLC boosted its position in Wheaton Precious Metals by 33.7% during the third quarter. FMR LLC now owns 14,665,913 shares of the company’s stock worth $895,723,000 after purchasing an additional 3,692,594 shares in the last quarter. Canoe Financial LP purchased a new position in shares of Wheaton Precious Metals during the 3rd quarter valued at approximately $113,017,000. AMF Tjanstepension AB grew its stake in Wheaton Precious Metals by 593.5% in the 2nd quarter. AMF Tjanstepension AB now owns 1,608,134 shares of the company’s stock valued at $84,388,000 after acquiring an additional 1,376,231 shares during the period. Barings LLC purchased a new stake in Wheaton Precious Metals in the 2nd quarter worth $65,405,000. Finally, TD Asset Management Inc raised its position in Wheaton Precious Metals by 22.5% during the second quarter. TD Asset Management Inc now owns 5,950,317 shares of the company’s stock worth $311,920,000 after acquiring an additional 1,092,480 shares during the period. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. TD Securities lifted their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Jefferies Financial Group lifted their price objective on Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Scotiabank increased their target price on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Stifel Canada lowered Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Finally, UBS Group initiated coverage on Wheaton Precious Metals in a research note on Monday, November 18th. They issued a “buy” rating and a $78.00 price objective for the company. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and an average price target of $71.67.

Wheaton Precious Metals Stock Down 0.5 %

Shares of WPM opened at $61.74 on Friday. The stock has a fifty day simple moving average of $63.00 and a two-hundred day simple moving average of $59.31. The company has a market capitalization of $28.01 billion, a PE ratio of 46.07, a price-to-earnings-growth ratio of 1.73 and a beta of 0.77. Wheaton Precious Metals Corp. has a 52-week low of $38.57 and a 52-week high of $68.64.

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

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Thursday, November 21st. Wheaton Precious Metals’s payout ratio is presently 46.27%.

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.