State of Tennessee Department of Treasury Buys 297 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

State of Tennessee Department of Treasury lifted its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 0.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 260,009 shares of the company’s stock after purchasing an additional 297 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Wheaton Precious Metals were worth $14,628,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in Wheaton Precious Metals during the fourth quarter worth about $20,790,000. Sei Investments Co. raised its position in shares of Wheaton Precious Metals by 25.7% in the 4th quarter. Sei Investments Co. now owns 40,769 shares of the company’s stock valued at $2,293,000 after buying an additional 8,331 shares in the last quarter. CWA Asset Management Group LLC lifted its holdings in shares of Wheaton Precious Metals by 19.7% during the 4th quarter. CWA Asset Management Group LLC now owns 163,514 shares of the company’s stock worth $9,196,000 after acquiring an additional 26,924 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Wheaton Precious Metals by 9.1% during the 4th quarter. Bank of New York Mellon Corp now owns 399,035 shares of the company’s stock worth $22,442,000 after acquiring an additional 33,256 shares in the last quarter. Finally, Pacer Advisors Inc. increased its stake in Wheaton Precious Metals by 5.7% in the fourth quarter. Pacer Advisors Inc. now owns 4,027 shares of the company’s stock valued at $226,000 after acquiring an additional 216 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WPM. Royal Bank of Canada upped their target price on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Friday, April 4th. UBS Group upped their price objective on Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Scotiabank lifted their target price on Wheaton Precious Metals from $79.00 to $87.00 and gave the company a “sector outperform” rating in a research report on Monday, April 14th. Stifel Canada raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, BMO Capital Markets initiated coverage on shares of Wheaton Precious Metals in a research note on Wednesday, April 16th. They issued an “outperform” rating and a $129.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $83.40.

Wheaton Precious Metals Price Performance

WPM opened at $83.49 on Wednesday. Wheaton Precious Metals Corp. has a fifty-two week low of $50.95 and a fifty-two week high of $87.42. The company’s 50 day moving average price is $74.25 and its two-hundred day moving average price is $65.94. The firm has a market capitalization of $37.88 billion, a price-to-earnings ratio of 62.31, a PEG ratio of 1.91 and a beta of 0.74.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data 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 the consensus estimate of $395.74 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The business’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 EPS. As a group, equities research analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.79%. 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 (DPR) is 56.90%.

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.