Aigen Investment Management LP Increases Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Aigen Investment Management LP lifted its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 22.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,044 shares of the company’s stock after purchasing an additional 3,471 shares during the period. Aigen Investment Management LP’s holdings in Wheaton Precious Metals were worth $940,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. CVA Family Office LLC acquired a new position in shares of Wheaton Precious Metals in the 4th quarter valued at $26,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Wheaton Precious Metals in the 4th quarter valued at $31,000. Principal Securities Inc. acquired a new position in shares of Wheaton Precious Metals in the 4th quarter valued at $39,000. Fifth Third Bancorp grew its position in Wheaton Precious Metals by 230.7% during the 4th quarter. Fifth Third Bancorp now owns 863 shares of the company’s stock worth $43,000 after purchasing an additional 602 shares during the period. Finally, Western Pacific Wealth Management LP grew its position in Wheaton Precious Metals by 47.6% during the 4th quarter. Western Pacific Wealth Management LP now owns 1,113 shares of the company’s stock worth $55,000 after purchasing an additional 359 shares during the period. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WPM. TD Securities raised Wheaton Precious Metals from a “hold” rating to a “buy” rating and increased their price target for the stock from $51.00 to $53.00 in a research report on Monday, March 18th. Scotiabank cut their price target on Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, February 28th. CIBC increased their price target on Wheaton Precious Metals from $66.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. BMO Capital Markets increased their target price on shares of Wheaton Precious Metals from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Berenberg Bank increased their target price on shares of Wheaton Precious Metals from $54.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.45.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock traded down $0.85 during midday trading on Wednesday, reaching $56.97. The company had a trading volume of 607,177 shares, compared to its average volume of 2,034,420. The company has a market capitalization of $25.83 billion, a P/E ratio of 43.82, a P/E/G ratio of 7.69 and a beta of 0.75. Wheaton Precious Metals Corp. has a 12-month low of $38.37 and a 12-month high of $57.87. The firm’s fifty day simple moving average is $50.99 and its 200-day simple moving average is $47.91.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, May 9th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. Wheaton Precious Metals had a net margin of 53.74% and a return on equity of 8.53%. The business had revenue of $296.80 million for the quarter, compared to analyst estimates of $278.95 million. During the same period last year, the company posted $0.23 EPS. The business’s revenue was up 38.7% on a year-over-year basis. On average, analysts expect that Wheaton Precious Metals Corp. will post 1.28 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Wednesday, May 29th. Wheaton Precious Metals’s dividend payout ratio (DPR) is 47.69%.

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.