DAVENPORT & Co LLC Buys 822 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

DAVENPORT & Co LLC grew its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,534 shares of the company’s stock after acquiring an additional 822 shares during the period. DAVENPORT & Co LLC’s holdings in Wheaton Precious Metals were worth $2,280,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc bought a new position in Wheaton Precious Metals in the 4th quarter worth about $29,000. Laurel Wealth Advisors LLC bought a new position in Wheaton Precious Metals in the 4th quarter worth about $39,000. GAMMA Investing LLC bought a new position in Wheaton Precious Metals in the 4th quarter worth about $41,000. St. Johns Investment Management Company LLC bought a new position in Wheaton Precious Metals in the 3rd quarter worth about $48,000. Finally, Exchange Traded Concepts LLC bought a new position in Wheaton Precious Metals in the 4th quarter worth about $54,000. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Stock Up 0.7 %

NYSE:WPM opened at $64.02 on Wednesday. Wheaton Precious Metals Corp. has a 52 week low of $38.57 and a 52 week high of $68.64. The firm has a 50 day moving average of $59.39 and a 200 day moving average of $60.67. The stock has a market capitalization of $29.04 billion, a price-to-earnings ratio of 47.77, a PEG ratio of 1.61 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly 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. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The business had revenue of $308.25 million for the quarter, compared to analyst estimates of $324.57 million. During the same quarter in the prior year, the business posted $0.27 EPS. As a group, analysts expect that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.155 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a yield of 0.97%. Wheaton Precious Metals’s payout ratio is 46.27%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WPM. 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. Stifel Canada cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. UBS Group began coverage on shares of Wheaton Precious Metals in a research report on Monday, November 18th. They issued a “buy” rating and a $78.00 price target for the company. 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, 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. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $71.67.

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.