Bowen Hanes & Co. Inc. Raises Position in Wheaton Precious Metals Corp. $WPM

Bowen Hanes & Co. Inc. increased its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 9.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 618,275 shares of the company’s stock after buying an additional 52,225 shares during the quarter. Bowen Hanes & Co. Inc. owned 0.14% of Wheaton Precious Metals worth $55,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in WPM. Vanguard Group Inc. grew its stake in shares of Wheaton Precious Metals by 3.1% during the second quarter. Vanguard Group Inc. now owns 18,554,651 shares of the company’s stock worth $1,668,582,000 after acquiring an additional 557,793 shares during the last quarter. TD Asset Management Inc raised its position in shares of Wheaton Precious Metals by 5.0% in the 1st quarter. TD Asset Management Inc now owns 7,512,351 shares of the company’s stock valued at $582,876,000 after purchasing an additional 355,533 shares during the last quarter. Bank of Montreal Can boosted its stake in Wheaton Precious Metals by 10.3% in the 2nd quarter. Bank of Montreal Can now owns 5,120,087 shares of the company’s stock worth $460,736,000 after purchasing an additional 478,236 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Wheaton Precious Metals by 10.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,072,786 shares of the company’s stock worth $393,800,000 after purchasing an additional 470,651 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Wheaton Precious Metals by 20.5% during the 2nd quarter. Geode Capital Management LLC now owns 3,653,717 shares of the company’s stock valued at $332,793,000 after purchasing an additional 622,003 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Monday, September 8th. BMO Capital Markets restated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Friday, August 8th. Raymond James Financial lifted their price target on Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. UBS Group increased their price objective on Wheaton Precious Metals from $118.00 to $122.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $124.50.

Wheaton Precious Metals Stock Performance

Shares of WPM opened at $99.34 on Friday. The business’s 50-day moving average is $103.82 and its two-hundred day moving average is $95.99. The company has a market capitalization of $45.10 billion, a P/E ratio of 57.42, a P/E/G ratio of 1.67 and a beta of 0.38. Wheaton Precious Metals Corp. has a fifty-two week low of $55.47 and a fifty-two week high of $114.36.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.03. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The business had revenue of $476.26 million during the quarter, compared to analysts’ expectations of $495.53 million. During the same quarter in the previous year, the firm posted $0.34 EPS. The company’s revenue for the quarter was up 54.5% on a year-over-year basis. Analysts forecast that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, November 20th. Wheaton Precious Metals’s dividend payout ratio is currently 30.00%.

Wheaton Precious Metals Company 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.