Capital World Investors Sells 414,367 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Capital World Investors lessened its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,763,998 shares of the company’s stock after selling 414,367 shares during the period. Capital World Investors owned about 8.54% of Wheaton Precious Metals worth $2,180,088,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Versant Capital Management Inc bought a new position in Wheaton Precious Metals in the fourth quarter valued at about $29,000. Promus Capital LLC bought a new position in Wheaton Precious Metals in the 4th quarter valued at approximately $32,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Wheaton Precious Metals during the fourth quarter worth $38,000. Headlands Technologies LLC grew its position in Wheaton Precious Metals by 494.9% during the 4th quarter. Headlands Technologies LLC now owns 696 shares of the company’s stock worth $39,000 after acquiring an additional 579 shares during the last quarter. Finally, Laurel Wealth Advisors LLC bought a new stake in Wheaton Precious Metals during the fourth quarter valued at $39,000. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Price Performance

NYSE:WPM opened at $84.16 on Friday. Wheaton Precious Metals Corp. has a 1 year low of $50.91 and a 1 year high of $86.20. The business has a fifty day simple moving average of $73.63 and a two-hundred day simple moving average of $65.58. The company has a market capitalization of $38.18 billion, a P/E ratio of 62.81, a P/E/G ratio of 1.91 and a beta of 0.74.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, March 13th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). The business had revenue of $380.52 million during the quarter, compared to analysts’ expectations of $395.74 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. Wheaton Precious Metals’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 EPS. As a group, analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.78%. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, April 1st. Wheaton Precious Metals’s dividend payout ratio is presently 56.90%.

Analysts Set New Price Targets

WPM has been the topic of a number of research reports. Raymond James boosted their target price on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday. UBS Group upped their target price on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Royal Bank of Canada lifted their price target on Wheaton Precious Metals from $75.00 to $80.00 and gave the company a “sector perform” rating in a research note on Friday, April 4th. Stifel Canada raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, BMO Capital Markets started coverage on Wheaton Precious Metals in a research report on Wednesday. They set an “outperform” rating and a $129.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $83.40.

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.