Confluence Investment Management LLC Has $712,000 Stock Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Confluence Investment Management LLC raised its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 4.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,656 shares of the company’s stock after buying an additional 536 shares during the period. Confluence Investment Management LLC’s holdings in Wheaton Precious Metals were worth $712,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also 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 valued at $895,723,000 after purchasing an additional 3,692,594 shares during the last quarter. TD Asset Management Inc raised its stake in shares of Wheaton Precious Metals by 22.5% during the 2nd quarter. TD Asset Management Inc now owns 5,950,317 shares of the company’s stock worth $311,920,000 after purchasing an additional 1,092,480 shares in the last quarter. Cibc World Market Inc. lifted its holdings in shares of Wheaton Precious Metals by 3.1% during the 2nd quarter. Cibc World Market Inc. now owns 3,574,648 shares of the company’s stock valued at $187,490,000 after buying an additional 108,976 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Wheaton Precious Metals by 22.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,456,230 shares of the company’s stock valued at $211,207,000 after buying an additional 634,843 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in Wheaton Precious Metals by 21.3% in the third quarter. National Bank of Canada FI now owns 2,923,402 shares of the company’s stock worth $178,551,000 after buying an additional 513,890 shares during the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Up 3.3 %

WPM opened at $58.07 on Friday. The stock’s 50 day moving average price is $61.36 and its two-hundred day moving average price is $60.07. The firm has a market capitalization of $26.34 billion, a P/E ratio of 43.34, a price-to-earnings-growth ratio of 1.67 and a beta of 0.75. Wheaton Precious Metals Corp. has a 12-month low of $38.57 and a 12-month high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last announced 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 business had revenue of $308.25 million for the quarter, compared to the consensus estimate 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 quarter last year, the company posted $0.27 earnings per share. As a group, analysts anticipate that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have commented on WPM. TD Securities increased their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. UBS Group assumed coverage on shares of Wheaton Precious Metals in a research report on Monday, November 18th. They set a “buy” rating and a $78.00 target price on the stock. Raymond James raised their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Stifel Canada downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Finally, National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $71.67.

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.