NFJ Investment Group LLC Takes Position in Wheaton Precious Metals Corp. (NYSE:WPM)

NFJ Investment Group LLC acquired a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 7,242 shares of the company’s stock, valued at approximately $442,000.

Several other institutional investors also recently made changes to their positions in WPM. Cetera Investment Advisers grew its stake in shares of Wheaton Precious Metals by 80.1% during the 1st quarter. Cetera Investment Advisers now owns 37,250 shares of the company’s stock valued at $1,756,000 after buying an additional 16,570 shares during the period. Cetera Advisors LLC purchased a new stake in shares of Wheaton Precious Metals during the 1st quarter valued at $400,000. First Hawaiian Bank purchased a new stake in Wheaton Precious Metals during the 2nd quarter worth $229,000. CWM LLC boosted its position in Wheaton Precious Metals by 10.7% during the 2nd quarter. CWM LLC now owns 3,040 shares of the company’s stock worth $159,000 after purchasing an additional 295 shares during the period. Finally, Artemis Investment Management LLP purchased a new stake in Wheaton Precious Metals during the 2nd quarter worth $2,891,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on WPM shares. Raymond James upped their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. UBS Group started coverage on shares of Wheaton Precious Metals in a research report on Monday, November 18th. They set a “buy” rating and a $78.00 price target for the company. Scotiabank upped their price target on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Finally, Jefferies Financial Group upped their price objective on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and an average price target of $71.67.

Wheaton Precious Metals Price Performance

NYSE:WPM opened at $62.96 on Thursday. The stock has a market cap of $28.56 billion, a P/E ratio of 46.99, a PEG ratio of 1.77 and a beta of 0.75. The firm has a 50-day moving average of $62.94 and a two-hundred day moving average of $59.54. Wheaton Precious Metals Corp. has a 1-year low of $38.57 and a 1-year high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. The business had revenue of $308.25 million for the quarter, compared to analyst estimates of $324.57 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. During the same quarter in the prior year, the business posted $0.27 EPS. As a group, equities analysts expect that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 21st will be paid a $0.155 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.98%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 46.27%.

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.