Douglas Lane & Associates LLC Raises Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Douglas Lane & Associates LLC increased its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 515,605 shares of the company’s stock after buying an additional 13,388 shares during the period. Douglas Lane & Associates LLC’s holdings in Wheaton Precious Metals were worth $28,998,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc purchased a new position in Wheaton Precious Metals during the 4th quarter valued at about $29,000. Abich Financial Wealth Management LLC purchased a new position in Wheaton Precious Metals during the second quarter valued at approximately $31,000. GAMMA Investing LLC purchased a new position in Wheaton Precious Metals during the fourth quarter valued at approximately $41,000. Sunbelt Securities Inc. bought a new position in Wheaton Precious Metals in the second quarter worth approximately $47,000. Finally, St. Johns Investment Management Company LLC purchased a new stake in Wheaton Precious Metals during the third quarter worth $48,000. 70.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Jefferies Financial Group increased their price target on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Raymond James lifted their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Stifel Canada cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Finally, TD Securities lifted their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $71.67.

Wheaton Precious Metals Trading Up 2.0 %

Shares of NYSE:WPM traded up $1.12 on Wednesday, hitting $57.96. 885,412 shares of the company were exchanged, compared to its average volume of 1,300,120. The stock’s 50 day moving average price is $60.76 and its 200 day moving average price is $60.26. 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 $26.29 billion, a P/E ratio of 43.25, a price-to-earnings-growth ratio of 1.67 and a beta of 0.76.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, meeting the consensus estimate 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 EPS. On average, equities analysts predict that Wheaton Precious Metals Corp. will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Thursday, November 21st were given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio is presently 46.27%.

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.