Nordea Investment Management AB Buys New Position in Wheaton Precious Metals Corp. (NYSE:WPM)
Nordea Investment Management AB bought a new stake in Wheaton Precious Metals Corp. (NYSE:WPM – Get Rating) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 395,301 shares of the company’s stock, valued at approximately $19,105,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Huntington National Bank boosted its position in shares of Wheaton Precious Metals by 40.1% during the 4th quarter. Huntington National Bank now owns 873 shares of the company’s stock valued at $37,000 after purchasing an additional 250 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Wheaton Precious Metals by 9.4% during the 4th quarter. Quadrant Capital Group LLC now owns 3,598 shares of the company’s stock valued at $154,000 after purchasing an additional 310 shares in the last quarter. PCJ Investment Counsel Ltd. boosted its position in shares of Wheaton Precious Metals by 2.2% during the 4th quarter. PCJ Investment Counsel Ltd. now owns 15,000 shares of the company’s stock valued at $644,000 after purchasing an additional 330 shares in the last quarter. Rational Advisors LLC boosted its position in shares of Wheaton Precious Metals by 136.2% during the 4th quarter. Rational Advisors LLC now owns 574 shares of the company’s stock valued at $25,000 after purchasing an additional 331 shares in the last quarter. Finally, Koshinski Asset Management Inc. lifted its stake in Wheaton Precious Metals by 2.1% during the fourth quarter. Koshinski Asset Management Inc. now owns 16,500 shares of the company’s stock valued at $708,000 after buying an additional 339 shares in the last quarter. Hedge funds and other institutional investors own 67.90% of the company’s stock.
Shares of Wheaton Precious Metals stock opened at $37.17 on Friday. The company’s fifty day simple moving average is $42.79 and its 200-day simple moving average is $43.40. The company has a market cap of $16.78 billion, a price-to-earnings ratio of 22.26, a PEG ratio of 5.48 and a beta of 0.51. Wheaton Precious Metals Corp. has a 1 year low of $36.39 and a 1 year high of $51.90.
Wheaton Precious Metals (NYSE:WPM – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. Wheaton Precious Metals had a net margin of 63.33% and a return on equity of 9.60%. The business had revenue of $307.24 million for the quarter, compared to the consensus estimate of $313.27 million. During the same quarter last year, the company posted $0.36 earnings per share. Wheaton Precious Metals’s quarterly revenue was down 5.2% on a year-over-year basis. On average, analysts anticipate that Wheaton Precious Metals Corp. will post 1.43 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 3rd. Shareholders of record on Friday, May 20th were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, May 19th. This represents a $0.60 dividend on an annualized basis and a yield of 1.61%. Wheaton Precious Metals’s dividend payout ratio is currently 35.93%.
A number of research firms have recently issued reports on WPM. StockNews.com began coverage on shares of Wheaton Precious Metals in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Raymond James set a $61.00 price objective on shares of Wheaton Precious Metals and gave the company an “outperform” rating in a research report on Friday, May 6th. National Bank Financial increased their price target on Wheaton Precious Metals from C$68.00 to C$75.00 in a report on Wednesday, April 20th. TD Securities lowered their price target on Wheaton Precious Metals from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, May 9th. Finally, Barclays increased their price target on Wheaton Precious Metals from $45.00 to $49.00 in a report on Thursday, April 21st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $58.14.
About Wheaton Precious Metals (Get Rating)
Wheaton Precious Metals Corp., a streaming company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has a portfolio of interests in the 23 operating mines and 13 development projects. The company was formerly known as Silver Wheaton Corp.
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