Magnetar Financial LLC Invests $815,000 in Wheaton Precious Metals Corp. (NYSE:WPM)

Magnetar Financial LLC purchased a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 14,495 shares of the company’s stock, valued at approximately $815,000.

Other large investors have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in Wheaton Precious Metals during the fourth quarter valued at $20,790,000. Charles Schwab Investment Management Inc. raised its position in Wheaton Precious Metals by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 955,540 shares of the company’s stock valued at $58,422,000 after buying an additional 36,970 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Wheaton Precious Metals during the third quarter valued at $1,287,000. CWA Asset Management Group LLC raised its position in Wheaton Precious Metals by 19.7% during the fourth quarter. CWA Asset Management Group LLC now owns 163,514 shares of the company’s stock valued at $9,196,000 after buying an additional 26,924 shares during the period. Finally, Wellington Management Group LLP raised its position in Wheaton Precious Metals by 42.7% during the third quarter. Wellington Management Group LLP now owns 133,627 shares of the company’s stock valued at $8,170,000 after buying an additional 39,979 shares during the period. 70.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Scotiabank upped their price target on Wheaton Precious Metals from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Monday, March 17th. Stifel Canada upgraded 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $72.44.

Wheaton Precious Metals Stock Performance

WPM opened at $75.02 on Friday. The company has a market cap of $34.03 billion, a PE ratio of 55.98, a price-to-earnings-growth ratio of 1.91 and a beta of 0.76. The stock has a 50-day moving average of $66.57 and a 200-day moving average of $63.17. Wheaton Precious Metals Corp. has a 52-week low of $44.57 and a 52-week high of $77.44.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.44 earnings per share (EPS) 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 the consensus estimate 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 revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 EPS. On average, research analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Tuesday, April 1st. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.16. Wheaton Precious Metals’s dividend payout ratio is 49.25%.

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.