Pacer Advisors Inc. Invests $209,000 in Wheaton Precious Metals Corp. (NYSE:WPM)
Pacer Advisors Inc. bought a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) during the 4th quarter, HoldingsChannel.com reports. The fund bought 4,242 shares of the company’s stock, valued at approximately $209,000.
Other hedge funds have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in Wheaton Precious Metals by 6.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,344,956 shares of the company’s stock worth $301,893,000 after acquiring an additional 361,138 shares during the period. Bank of New York Mellon Corp lifted its holdings in Wheaton Precious Metals by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 481,497 shares of the company’s stock valued at $22,909,000 after purchasing an additional 4,497 shares in the last quarter. US Bancorp DE lifted its holdings in Wheaton Precious Metals by 4.9% during the first quarter. US Bancorp DE now owns 11,778 shares of the company’s stock valued at $561,000 after purchasing an additional 551 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Wheaton Precious Metals by 21.3% in the first quarter. PNC Financial Services Group Inc. now owns 20,122 shares of the company’s stock worth $957,000 after buying an additional 3,535 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in shares of Wheaton Precious Metals by 245.5% in the first quarter. BlackRock Inc. now owns 2,530,486 shares of the company’s stock worth $120,401,000 after buying an additional 1,798,086 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.
Wheaton Precious Metals Price Performance
Shares of NYSE:WPM opened at $50.59 on Friday. The stock has a market cap of $22.92 billion, a P/E ratio of 42.51, a P/E/G ratio of 13.27 and a beta of 0.77. Wheaton Precious Metals Corp. has a 1-year low of $38.37 and a 1-year high of $52.76. The firm has a fifty day moving average price of $44.89 and a 200 day moving average price of $45.29.
Wheaton Precious Metals Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Wednesday, April 3rd will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, April 2nd. This represents a $0.62 dividend on an annualized basis and a yield of 1.23%. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.15. Wheaton Precious Metals’s dividend payout ratio is presently 52.10%.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on WPM shares. BMO Capital Markets dropped their price target on shares of Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating for the company in a research report on Wednesday, February 21st. Raymond James dropped their price objective on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating for the company in a report on Thursday, February 22nd. Scotiabank lowered their price target on shares of Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating for the company in a report on Wednesday, February 28th. National Bank Financial cut shares of Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, February 21st. Finally, Jefferies Financial Group assumed coverage on shares of Wheaton Precious Metals in a report on Thursday, February 29th. They set a “buy” rating and a $49.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.63.
Read Our Latest Analysis on Wheaton Precious Metals
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.
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