SeaBridge Investment Advisors LLC Has $3.50 Million Stake in Wheaton Precious Metals Corp. (NYSE:WPM)

SeaBridge Investment Advisors LLC grew its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 3.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 62,290 shares of the company’s stock after buying an additional 2,266 shares during the period. SeaBridge Investment Advisors LLC’s holdings in Wheaton Precious Metals were worth $3,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. FMR LLC grew its position in Wheaton Precious Metals by 33.7% in the 3rd quarter. FMR LLC now owns 14,665,913 shares of the company’s stock worth $895,723,000 after purchasing an additional 3,692,594 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Wheaton Precious Metals by 22.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,456,230 shares of the company’s stock worth $211,207,000 after purchasing an additional 634,843 shares during the last quarter. National Bank of Canada FI grew its position 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 worth $178,551,000 after purchasing an additional 513,890 shares during the last quarter. CIBC Asset Management Inc grew its position in Wheaton Precious Metals by 10.6% in the 3rd quarter. CIBC Asset Management Inc now owns 2,273,160 shares of the company’s stock worth $140,099,000 after purchasing an additional 218,575 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Wheaton Precious Metals by 5.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,002,629 shares of the company’s stock worth $121,939,000 after purchasing an additional 111,769 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WPM. National Bank Financial upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Jefferies Financial Group raised their price objective on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Raymond James raised their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. TD Securities raised their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, UBS Group started coverage on shares of Wheaton Precious Metals in a report on Monday, November 18th. They set a “buy” rating and a $78.00 price objective for the company. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.67.

Wheaton Precious Metals Stock Down 1.1 %

Shares of WPM stock opened at $62.40 on Friday. 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 capitalization of $28.31 billion, a P/E ratio of 46.57, a P/E/G ratio of 1.54 and a beta of 0.76. The firm has a 50-day moving average price of $59.30 and a 200 day moving average price of $60.64.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, hitting 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 company had revenue of $308.25 million during the quarter, compared to the consensus estimate of $324.57 million. During the same period in the previous year, the firm posted $0.27 earnings per share. As a group, research analysts expect that Wheaton Precious Metals Corp. will post 1.45 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Thursday, November 21st were paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio is presently 46.27%.

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.