Tocqueville Asset Management L.P. Cuts Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Tocqueville Asset Management L.P. trimmed its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 0.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 676,570 shares of the company’s stock after selling 3,954 shares during the period. Tocqueville Asset Management L.P.’s holdings in Wheaton Precious Metals were worth $38,050,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Van ECK Associates Corp raised its stake in shares of Wheaton Precious Metals by 6.4% during the 4th quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company’s stock worth $1,154,843,000 after buying an additional 1,231,999 shares in the last quarter. FMR LLC raised its stake in shares of Wheaton Precious Metals by 33.7% during the 3rd quarter. FMR LLC now owns 14,665,913 shares of the company’s stock worth $895,723,000 after buying an additional 3,692,594 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Wheaton Precious Metals by 22.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,456,230 shares of the company’s stock worth $211,207,000 after buying an additional 634,843 shares in the last quarter. Horizon Kinetics Asset Management LLC increased its stake in Wheaton Precious Metals by 6.4% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 2,931,246 shares of the company’s stock valued at $164,853,000 after purchasing an additional 177,071 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in Wheaton Precious Metals by 21.3% in the 3rd quarter. National Bank of Canada FI now owns 2,923,402 shares of the company’s stock valued at $178,551,000 after purchasing an additional 513,890 shares in the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

Wheaton Precious Metals stock opened at $75.97 on Tuesday. The stock has a fifty day moving average of $65.11 and a two-hundred day moving average of $62.80. The company has a market capitalization of $34.47 billion, a price-to-earnings ratio of 56.69, a PEG ratio of 1.91 and a beta of 0.77. Wheaton Precious Metals Corp. has a fifty-two week low of $43.18 and a fifty-two week high of $77.35.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). The company had revenue of $380.52 million for the quarter, compared to analysts’ expectations of $395.74 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The business’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 EPS. On average, analysts forecast that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.165 per share. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, April 1st. This represents a $0.66 annualized dividend and a dividend yield of 0.87%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 46.27%.

Analyst Ratings Changes

Several research firms recently weighed in on WPM. UBS Group began coverage on Wheaton Precious Metals in a research note on Monday, November 18th. They issued a “buy” rating and a $78.00 price objective for the company. Scotiabank raised their price objective on Wheaton Precious Metals from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research note on Monday. Finally, Stifel Canada raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $72.44.

Wheaton Precious Metals 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.