Beddow Capital Management Inc. Increases Stake in Wheaton Precious Metals Corp. (NYSE:WPM)

Beddow Capital Management Inc. increased its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 7.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 102,468 shares of the company’s stock after acquiring an additional 7,302 shares during the quarter. Wheaton Precious Metals comprises 2.4% of Beddow Capital Management Inc.’s investment portfolio, making the stock its 18th largest holding. Beddow Capital Management Inc.’s holdings in Wheaton Precious Metals were worth $5,763,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Northwest & Ethical Investments L.P. increased its holdings in Wheaton Precious Metals by 0.6% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 80,507 shares of the company’s stock worth $4,523,000 after acquiring an additional 480 shares during the last quarter. Blueshift Asset Management LLC grew its holdings in Wheaton Precious Metals by 79.5% during the 4th quarter. Blueshift Asset Management LLC now owns 9,432 shares of the company’s stock valued at $530,000 after buying an additional 4,176 shares in the last quarter. Magnetar Financial LLC purchased a new position in Wheaton Precious Metals during the 4th quarter valued at about $815,000. Generali Asset Management SPA SGR purchased a new position in Wheaton Precious Metals during the 4th quarter valued at about $26,848,000. Finally, Flagship Wealth Advisors LLC purchased a new position in Wheaton Precious Metals during the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

NYSE:WPM opened at $75.02 on Friday. The business has a 50 day moving average of $66.57 and a 200 day moving average of $63.17. The company has a market capitalization of $34.03 billion, a price-to-earnings ratio of 55.98, a PEG ratio of 1.91 and a beta of 0.76. Wheaton Precious Metals Corp. has a 1-year low of $44.57 and a 1-year high of $77.44.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, March 13th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The firm had revenue of $380.52 million during 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 quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 EPS. As a group, sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Increases Dividend

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

Wall Street Analysts Forecast Growth

WPM has been the subject of a number of recent analyst reports. Scotiabank lifted their target price on Wheaton Precious Metals from $78.00 to $79.00 and gave the company a “sector outperform” rating in a report on Monday, March 17th. Stifel Canada raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Nine equities 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, Wheaton Precious Metals currently has an average rating of “Buy” and a consensus price target of $72.44.

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.