Klein Pavlis & Peasley Financial Inc. Acquires Shares of 61,898 Wheaton Precious Metals Corp. (NYSE:WPM)
Klein Pavlis & Peasley Financial Inc. acquired a new stake in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 61,898 shares of the company’s stock, valued at approximately $3,054,000. Wheaton Precious Metals makes up about 2.8% of Klein Pavlis & Peasley Financial Inc.’s holdings, making the stock its 10th biggest position.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WPM. Sprott Inc. lifted its position in shares of Wheaton Precious Metals by 4.8% during the 3rd quarter. Sprott Inc. now owns 799,533 shares of the company’s stock valued at $32,421,000 after acquiring an additional 36,654 shares during the period. Deutsche Bank AG lifted its position in shares of Wheaton Precious Metals by 4.4% during the 3rd quarter. Deutsche Bank AG now owns 3,623,133 shares of the company’s stock worth $146,918,000 after buying an additional 152,826 shares during the last quarter. Douglas Lane & Associates LLC lifted its position in shares of Wheaton Precious Metals by 186.9% during the 3rd quarter. Douglas Lane & Associates LLC now owns 310,914 shares of the company’s stock worth $12,608,000 after buying an additional 202,539 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Wheaton Precious Metals by 18.3% during the 3rd quarter. Mackenzie Financial Corp now owns 3,411,151 shares of the company’s stock worth $133,849,000 after buying an additional 527,358 shares during the last quarter. Finally, Gabelli Funds LLC lifted its position in shares of Wheaton Precious Metals by 1.6% during the 3rd quarter. Gabelli Funds LLC now owns 1,171,495 shares of the company’s stock worth $47,504,000 after buying an additional 18,100 shares during the last quarter. 58.51% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have commented on WPM. Scotiabank dropped their target price on Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating for the company in a research report on Wednesday, February 28th. TD Securities raised Wheaton Precious Metals from a “hold” rating to a “buy” rating and increased their price target for the company from $51.00 to $53.00 in a research note on Monday, March 18th. Berenberg Bank decreased their target price on Wheaton Precious Metals from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Raymond James cut their price target on Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating on the stock in a report on Thursday, February 22nd. Finally, CIBC increased their price target on Wheaton Precious Metals from $66.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.65.
View Our Latest Research Report on WPM
Wheaton Precious Metals Stock Down 1.1 %
Shares of NYSE WPM traded down $0.50 during midday trading on Friday, reaching $44.89. The company had a trading volume of 992,815 shares, compared to its average volume of 2,431,550. Wheaton Precious Metals Corp. has a one year low of $38.37 and a one year high of $52.76. The firm’s fifty day moving average price is $44.67 and its 200-day moving average price is $44.96. The stock has a market cap of $20.34 billion, a PE ratio of 37.72, a price-to-earnings-growth ratio of 11.62 and a beta of 0.76.
Wheaton Precious Metals Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Wednesday, April 3rd will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Tuesday, April 2nd. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.15. Wheaton Precious Metals’s payout ratio is 50.42%.
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 10, 2017. Wheaton Precious Metals Corp.
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