Carnegie Investment Counsel Has $528,000 Stock Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Carnegie Investment Counsel raised its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 6.1% in the third quarter, Holdings Channel.com reports. The fund owned 8,642 shares of the company’s stock after acquiring an additional 500 shares during the quarter. Carnegie Investment Counsel’s holdings in Wheaton Precious Metals were worth $528,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in WPM. TD Asset Management Inc lifted its stake in Wheaton Precious Metals by 71.2% in the first quarter. TD Asset Management Inc now owns 4,857,837 shares of the company’s stock valued at $229,026,000 after acquiring an additional 2,019,722 shares during the last quarter. AMF Tjanstepension AB lifted its stake in shares of Wheaton Precious Metals by 593.5% in the second quarter. AMF Tjanstepension AB now owns 1,608,134 shares of the company’s stock worth $84,388,000 after buying an additional 1,376,231 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Wheaton Precious Metals by 31.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,672,800 shares of the company’s stock worth $272,975,000 after buying an additional 1,342,264 shares during the last quarter. Barings LLC acquired a new stake in shares of Wheaton Precious Metals in the second quarter worth $65,405,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Wheaton Precious Metals by 16.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,309,175 shares of the company’s stock worth $344,483,000 after buying an additional 1,010,307 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. CIBC boosted their price objective on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Bank of America boosted their price objective on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Jefferies Financial Group boosted their price objective on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Berenberg Bank boosted their price objective on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Finally, National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $69.88.

Wheaton Precious Metals Trading Up 0.3 %

Shares of WPM stock opened at $60.91 on Tuesday. Wheaton Precious Metals Corp. has a 1 year low of $38.57 and a 1 year high of $64.82. The firm’s fifty day simple moving average is $60.37 and its 200 day simple moving average is $56.71. The firm has a market capitalization of $27.63 billion, a P/E ratio of 48.34, a price-to-earnings-growth ratio of 2.20 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. The firm had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 EPS. Equities research analysts anticipate that Wheaton Precious Metals Corp. will post 1.43 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 49.21%.

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.