Banque Cantonale Vaudoise Increases Stock Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Posted by Max Byerly on May 26th, 2023

Banque Cantonale Vaudoise raised its stake in Wheaton Precious Metals Corp. (NYSE:WPM – Get Rating) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,317 shares of the company’s stock after purchasing an additional 415 shares during the period. Banque Cantonale Vaudoise’s holdings in Wheaton Precious Metals were worth $716,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Glass Jacobson Investment Advisors llc purchased a new position in Wheaton Precious Metals in the fourth quarter valued at approximately $30,000. Sugarloaf Wealth Management LLC purchased a new position in shares of Wheaton Precious Metals during the fourth quarter worth approximately $32,000. First Personal Financial Services grew its position in shares of Wheaton Precious Metals by 24.4% during the fourth quarter. First Personal Financial Services now owns 1,335 shares of the company’s stock worth $52,000 after acquiring an additional 262 shares during the last quarter. Belpointe Asset Management LLC purchased a new position in shares of Wheaton Precious Metals during the fourth quarter worth approximately $81,000. Finally, Covestor Ltd purchased a new position in shares of Wheaton Precious Metals during the first quarter worth approximately $93,000. 57.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Wheaton Precious Metals

In related news, Director Chantal Gosselin sold 3,000 shares of the business’s stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $65.70, for a total value of $197,085.00.

Wall Street Analyst Weigh In

WPM has been the topic of a number of research reports. Barclays lowered their target price on shares of Wheaton Precious Metals from $43.00 to $42.00 in a research report on Friday. BMO Capital Markets lowered their price objective on shares of Wheaton Precious Metals from $52.00 to $51.00 and set an “outperform” rating on the stock in a research report on Friday, March 10th. CSFB lowered their price objective on shares of Wheaton Precious Metals from C$65.00 to C$60.00 in a research report on Thursday, March 2nd. Berenberg Bank reiterated a “buy” rating and issued a GBX 4,700 ($58.46) price objective on shares of Wheaton Precious Metals in a research report on Friday, April 28th. Finally, Canaccord Genuity Group lifted their price objective on shares of Wheaton Precious Metals from C$67.00 to C$75.00 in a research report on Tuesday, April 4th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $350.56.

Wheaton Precious Metals Stock Down 1.5 %

NYSE:WPM opened at $44.28 on Friday. The company has a market capitalization of $20.05 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 7.67 and a beta of 0.58. Wheaton Precious Metals Corp. has a 52-week low of $28.62 and a 52-week high of $52.76. The stock has a fifty day simple moving average of $1,309.25 and a 200-day simple moving average of $1,345.73.

Wheaton Precious Metals (NYSE:WPM – Get Rating) last released its quarterly earnings results on Friday, May 5th. The company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. The business had revenue of $214.00 million during the quarter, compared to the consensus estimate of $237.87 million. Wheaton Precious Metals had a return on equity of 6.81% and a net margin of 64.08%. The business’s revenue was down 30.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.35 EPS. As a group, equities analysts anticipate that Wheaton Precious Metals Corp. will post 1.17 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 2nd. Stockholders of record on Friday, May 19th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Thursday, May 18th. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 43.48%.

About Wheaton Precious Metals

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Wheaton Precious Metals Corp. is a mining company engages in the sale of precious metals and cobalt production. It operates through the following business segments: Gold, Silver, Palladium, Cobalt, and Other. The company was founded by Peter Derek Barnes on December 17, 2004 and is headquartered in Vancouver, Canada.