Wheaton Precious Metals Corp. $WPM Stock Position Boosted by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC lifted its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 1.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,985,486 shares of the company's stock after purchasing an additional 28,792 shares during the quarter. Wheaton Precious Metals comprises approximately 3.2% of Horizon Kinetics Asset Management LLC's holdings, making the stock its 4th largest holding. Horizon Kinetics Asset Management LLC owned approximately 0.66% of Wheaton Precious Metals worth $268,097,000 at the end of the most recent quarter.

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A number of other institutional investors have also recently added to or reduced their stakes in WPM. Picton Mahoney Asset Management acquired a new stake in shares of Wheaton Precious Metals in the second quarter valued at about $42,953,000. Prudential Financial Inc. acquired a new position in Wheaton Precious Metals during the 2nd quarter worth $376,000. Charles Schwab Investment Management Inc. increased its holdings in Wheaton Precious Metals by 4.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,034,007 shares of the company's stock valued at $92,803,000 after buying an additional 40,449 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Wheaton Precious Metals by 3.8% in the 2nd quarter. American Century Companies Inc. now owns 663,848 shares of the company's stock valued at $59,619,000 after acquiring an additional 24,269 shares during the last quarter. Finally, Bowen Hanes & Co. Inc. increased its stake in Wheaton Precious Metals by 9.2% during the second quarter. Bowen Hanes & Co. Inc. now owns 618,275 shares of the company's stock valued at $55,521,000 after purchasing an additional 52,225 shares during the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on WPM. Bank of America upped their target price on shares of Wheaton Precious Metals from $127.00 to $132.00 and gave the stock a "buy" rating in a research report on Thursday, October 16th. CIBC increased their target price on Wheaton Precious Metals from $135.00 to $160.00 and gave the company an "outperformer" rating in a report on Friday, October 10th. Weiss Ratings restated a "buy (b)" rating on shares of Wheaton Precious Metals in a research note on Wednesday. BMO Capital Markets reissued an "outperform" rating on shares of Wheaton Precious Metals in a report on Friday, August 8th. Finally, Raymond James Financial upped their price target on Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an "outperform" rating in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $124.50.

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Get Our Latest Stock Analysis on WPM

Wheaton Precious Metals Trading Down 0.3%

Shares of NYSE WPM opened at $99.34 on Monday. The firm's 50-day moving average is $103.82 and its 200-day moving average is $96.14. Wheaton Precious Metals Corp. has a 1 year low of $55.47 and a 1 year high of $114.36. The firm has a market capitalization of $45.10 billion, a PE ratio of 57.42, a price-to-earnings-growth ratio of 1.67 and a beta of 0.38.

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Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.03. The business had revenue of $476.26 million for the quarter, compared to the consensus estimate of $495.53 million. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. Wheaton Precious Metals's revenue for the quarter was up 54.5% on a year-over-year basis. During the same period last year, the company posted $0.34 EPS. As a group, equities research analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 20th will be issued a dividend of $0.165 per share. The ex-dividend date is Thursday, November 20th. This represents a $0.66 annualized dividend and a yield of 0.7%. Wheaton Precious Metals's dividend payout ratio is presently 30.00%.

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.

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