Principal Financial Group Inc. Buys 196 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Principal Financial Group Inc. lifted its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,761 shares of the company’s stock after acquiring an additional 196 shares during the quarter. Principal Financial Group Inc.’s holdings in Wheaton Precious Metals were worth $1,208,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. purchased a new position in Wheaton Precious Metals during the 3rd quarter worth $213,000. Tidal Investments LLC increased its stake in shares of Wheaton Precious Metals by 1.1% during the third quarter. Tidal Investments LLC now owns 791,938 shares of the company’s stock valued at $48,372,000 after buying an additional 8,399 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Wheaton Precious Metals in the third quarter valued at about $1,832,000. Te Ahumairangi Investment Management Ltd lifted its stake in Wheaton Precious Metals by 1.0% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 67,392 shares of the company’s stock worth $4,097,000 after acquiring an additional 668 shares during the period. Finally, Virtu Financial LLC purchased a new stake in Wheaton Precious Metals in the third quarter worth about $284,000. Institutional investors own 70.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. TD Securities boosted their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 8th. National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Stifel Canada cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Raymond James boosted their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, UBS Group initiated coverage on Wheaton Precious Metals in a research report on Monday, November 18th. They set a “buy” rating and a $78.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and a consensus price target of $71.67.

Wheaton Precious Metals Stock Down 0.9 %

Shares of Wheaton Precious Metals stock opened at $57.54 on Friday. The company has a 50 day moving average price of $61.18 and a 200 day moving average price of $60.16. The firm has a market capitalization of $26.10 billion, a P/E ratio of 42.94, a PEG ratio of 1.67 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 posted its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 quarter last year, the company posted $0.27 earnings per share. As a group, research analysts anticipate that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.155 per share. The ex-dividend date was Thursday, November 21st. This represents a $0.62 annualized dividend and a yield of 1.08%. Wheaton Precious Metals’s payout ratio is presently 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.