Avanza Fonder AB Makes New $2.46 Million Investment in Wheaton Precious Metals Corp. (NYSE:WPM)

Avanza Fonder AB bought a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the fourth quarter, Holdings Channel.com reports. The fund bought 43,654 shares of the company’s stock, valued at approximately $2,455,000.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC boosted its position in Wheaton Precious Metals by 33.7% in the 3rd quarter. FMR LLC now owns 14,665,913 shares of the company’s stock valued at $895,723,000 after buying an additional 3,692,594 shares during the period. Canoe Financial LP bought a new stake in shares of Wheaton Precious Metals during the third quarter valued at approximately $113,017,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Wheaton Precious Metals by 1,865.2% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,245,534 shares of the company’s stock valued at $76,061,000 after purchasing an additional 1,182,156 shares during the period. Clearbridge Investments LLC grew its stake in Wheaton Precious Metals by 90.5% in the second quarter. Clearbridge Investments LLC now owns 1,344,131 shares of the company’s stock worth $70,461,000 after purchasing an additional 638,425 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Wheaton Precious Metals by 22.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,456,230 shares of the company’s stock worth $211,207,000 after purchasing an additional 634,843 shares during the period. 70.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on WPM. Stifel Canada cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Jefferies Financial Group upped their price objective on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Raymond James raised their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. National Bank Financial upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Finally, TD Securities increased their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $71.67.

Wheaton Precious Metals Stock Up 0.4 %

Shares of NYSE:WPM opened at $57.74 on Friday. The business has a 50-day moving average price of $59.52 and a 200-day moving average price of $60.46. The stock has a market cap of $26.19 billion, a price-to-earnings ratio of 43.09, a PEG ratio of 1.28 and a beta of 0.76. 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 announced its quarterly earnings data on Friday, November 8th. The company reported $0.34 EPS for the quarter, meeting the consensus estimate of $0.34. The business 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 in the previous year, the business posted $0.27 EPS. As a group, equities analysts anticipate that Wheaton Precious Metals Corp. will post 1.45 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

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