Wheaton Precious Metals Corp. (NYSE:WPM) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,761 shares of the company’s stock after acquiring an additional 196 shares during the quarter. Principal Financial Group Inc.’s holdings in Wheaton Precious Metals were worth $1,208,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Ridgewood Investments LLC purchased a new stake in shares of Wheaton Precious Metals during the 2nd quarter worth about $31,000. Abich Financial Wealth Management LLC purchased a new position in Wheaton Precious Metals during the second quarter worth approximately $31,000. Sunbelt Securities Inc. acquired a new stake in Wheaton Precious Metals in the second quarter valued at approximately $47,000. St. Johns Investment Management Company LLC purchased a new stake in shares of Wheaton Precious Metals in the third quarter valued at approximately $48,000. Finally, Western Pacific Wealth Management LP raised its stake in shares of Wheaton Precious Metals by 19.6% during the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock worth $63,000 after buying an additional 218 shares during the period. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Trading Up 0.5 %

WPM stock opened at $63.81 on Friday. The firm has a 50-day moving average of $63.01 and a two-hundred day moving average of $59.17. Wheaton Precious Metals Corp. has a 12 month low of $38.57 and a 12 month high of $68.64. The company has a market cap of $28.95 billion, a price-to-earnings ratio of 47.62, a PEG ratio of 2.32 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, meeting the consensus estimate of $0.34. The firm had revenue of $308.25 million during the quarter, compared to analysts’ expectations of $324.57 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. During the same quarter last year, the firm earned $0.27 earnings per share. As a group, equities analysts forecast 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 declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.62 annualized dividend and a dividend yield of 0.97%. Wheaton Precious Metals’s dividend payout ratio is presently 46.27%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group lifted their price target on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Stifel Canada lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. TD Securities upped their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Raymond James lifted their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Scotiabank increased their target price on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Wheaton Precious Metals has an average rating of “Moderate Buy” and an average price target of $71.67.

About Wheaton Precious Metals

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.