MAI Capital Management Increases Position in Wheaton Precious Metals Corp. (NYSE:WPM)

MAI Capital Management lifted its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 4.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,054 shares of the company’s stock after acquiring an additional 346 shares during the period. MAI Capital Management’s holdings in Wheaton Precious Metals were worth $492,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in WPM. Quent Capital LLC lifted its position in shares of Wheaton Precious Metals by 136.1% during the first quarter. Quent Capital LLC now owns 5,636 shares of the company’s stock valued at $266,000 after buying an additional 3,249 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in Wheaton Precious Metals by 6.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 10,817 shares of the company’s stock valued at $510,000 after acquiring an additional 656 shares during the last quarter. UniSuper Management Pty Ltd boosted its stake in Wheaton Precious Metals by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 6,400 shares of the company’s stock valued at $302,000 after acquiring an additional 3,200 shares in the last quarter. Natixis purchased a new position in Wheaton Precious Metals in the first quarter worth $529,000. Finally, Canada Pension Plan Investment Board increased its position in shares of Wheaton Precious Metals by 10.9% during the first quarter. Canada Pension Plan Investment Board now owns 1,560,608 shares of the company’s stock worth $73,576,000 after purchasing an additional 152,758 shares in the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on WPM shares. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. UBS Group began coverage on shares of Wheaton Precious Metals in a report on Monday, November 18th. They set a “buy” rating and a $78.00 price objective on the stock. Raymond James lifted their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Scotiabank upped their price target on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Finally, Stifel Canada downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.67.

Wheaton Precious Metals Stock Performance

NYSE WPM opened at $63.82 on Friday. The firm has a market capitalization of $28.95 billion, a P/E ratio of 47.63, a PEG ratio of 2.28 and a beta of 0.77. The stock has a 50-day simple moving average of $62.99 and a two-hundred day simple moving average of $59.06. Wheaton Precious Metals Corp. has a fifty-two week low of $38.57 and a fifty-two week high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Friday, November 8th. The company reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. The business had revenue of $308.25 million for the quarter, compared to analyst estimates of $324.57 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. During the same quarter in the prior year, the firm posted $0.27 EPS. As a group, analysts forecast that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 21st will be issued a $0.155 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a yield of 0.97%. 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.