Generali Asset Management SPA SGR Buys New Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Generali Asset Management SPA SGR acquired a new position in Wheaton Precious Metals Corp. (NYSE:WPM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 477,385 shares of the company’s stock, valued at approximately $26,848,000. Wheaton Precious Metals comprises approximately 0.7% of Generali Asset Management SPA SGR’s portfolio, making the stock its 23rd biggest holding.

Several other hedge funds have also modified their holdings of the company. Flagship Wealth Advisors LLC purchased a new stake in Wheaton Precious Metals during the 4th quarter valued at $41,000. Horizon Kinetics Asset Management LLC raised 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 valued at $164,853,000 after buying an additional 177,071 shares during the period. Signaturefd LLC raised 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 valued at $668,000 after buying an additional 178 shares during the period. United Capital Management of KS Inc. purchased a new stake in Wheaton Precious Metals during the 4th quarter valued at $347,000. Finally, Bennbridge Ltd purchased a new stake in Wheaton Precious Metals during the 4th quarter valued at $2,981,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on WPM. Stifel Canada raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. UBS Group began coverage on Wheaton Precious Metals in a research report on Monday, November 18th. They issued a “buy” rating and a $78.00 price objective on the stock. Finally, Scotiabank upped their price objective on Wheaton Precious Metals from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Monday. 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.com, the company presently has an average rating of “Buy” and an average target price of $72.44.

Wheaton Precious Metals Stock Performance

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

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, March 13th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). The company had revenue of $380.52 million for the quarter, compared to analyst estimates 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 revenue was up 21.4% on a year-over-year basis. During the same period last year, the business earned $0.36 earnings per share. As a group, sell-side analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be paid a $0.165 dividend. The ex-dividend date 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 0.87%. Wheaton Precious Metals’s payout ratio is currently 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.