Geode Capital Management LLC Acquires 111,769 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Geode Capital Management LLC increased its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 5.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,002,629 shares of the company’s stock after acquiring an additional 111,769 shares during the period. Geode Capital Management LLC owned approximately 0.44% of Wheaton Precious Metals worth $121,939,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Ridgewood Investments LLC bought a new stake in shares of Wheaton Precious Metals in the 2nd quarter worth approximately $31,000. Abich Financial Wealth Management LLC bought a new stake in Wheaton Precious Metals in the second quarter worth $31,000. Sunbelt Securities Inc. bought a new stake in Wheaton Precious Metals in the second quarter worth $47,000. St. Johns Investment Management Company LLC purchased a new stake in shares of Wheaton Precious Metals in the third quarter worth $48,000. Finally, Dunhill Financial LLC increased its holdings in shares of Wheaton Precious Metals by 200.9% during the third quarter. Dunhill Financial LLC now owns 1,050 shares of the company’s stock valued at $64,000 after acquiring an additional 701 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

WPM stock opened at $59.76 on Wednesday. The company has a market cap of $27.11 billion, a P/E ratio of 44.60, a price-to-earnings-growth ratio of 1.67 and a beta of 0.75. The stock’s fifty day moving average price is $63.00 and its 200-day moving average price is $59.84. Wheaton Precious Metals Corp. has a 1 year low of $38.57 and a 1 year high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. The firm had revenue of $308.25 million for 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 in the prior year, the business earned $0.27 EPS. As a group, analysts expect that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 21st were paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio is presently 46.27%.

Analyst Ratings Changes

WPM has been the topic of several recent analyst reports. 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 report on Friday, November 8th. Raymond James increased their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a 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. Jefferies Financial Group increased their target price on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, UBS Group assumed coverage on Wheaton Precious Metals in a research note on Monday, November 18th. They issued a “buy” rating and a $78.00 price target for the company. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $71.67.

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.