Russell Investments Group Ltd. Has $27.50 Million Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Russell Investments Group Ltd. trimmed its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 21.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 489,232 shares of the company’s stock after selling 132,540 shares during the period. Russell Investments Group Ltd.’s holdings in Wheaton Precious Metals were worth $27,496,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in WPM. Raymond James Financial Inc. bought a new position in Wheaton Precious Metals during the fourth quarter valued at approximately $20,790,000. Sei Investments Co. raised its holdings in shares of Wheaton Precious Metals by 25.7% during the 4th quarter. Sei Investments Co. now owns 40,769 shares of the company’s stock valued at $2,293,000 after purchasing an additional 8,331 shares in the last quarter. CWA Asset Management Group LLC lifted its stake in shares of Wheaton Precious Metals by 19.7% in the 4th quarter. CWA Asset Management Group LLC now owns 163,514 shares of the company’s stock valued at $9,196,000 after purchasing an additional 26,924 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Wheaton Precious Metals by 42.7% in the third quarter. Wellington Management Group LLP now owns 133,627 shares of the company’s stock worth $8,170,000 after purchasing an additional 39,979 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Wheaton Precious Metals by 9.1% during the fourth quarter. Bank of New York Mellon Corp now owns 399,035 shares of the company’s stock worth $22,442,000 after buying an additional 33,256 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Down 0.2 %

WPM stock opened at $70.56 on Wednesday. The business’s 50-day simple moving average is $70.81 and its 200 day simple moving average is $64.48. The company has a market cap of $32.01 billion, a PE ratio of 52.65, a price-to-earnings-growth ratio of 1.91 and a beta of 0.74. Wheaton Precious Metals Corp. has a twelve month low of $49.43 and a twelve month high of $80.43.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The firm had revenue of $380.52 million for the quarter, compared to the consensus estimate of $395.74 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The business’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 earnings per share. On average, equities research analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 EPS for the current 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 paid a $0.165 dividend. 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 dividend on an annualized basis and a dividend yield of 0.94%. Wheaton Precious Metals’s dividend payout ratio is currently 56.90%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Royal Bank of Canada boosted their price target on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Friday, April 4th. Stifel Canada raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Scotiabank lifted their price target on shares of 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. Finally, Raymond James upped their price objective on shares of Wheaton Precious Metals from $75.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, April 4th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $74.50.

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.