United Capital Management of KS Inc. Takes Position in Wheaton Precious Metals Corp. (NYSE:WPM)

United Capital Management of KS Inc. bought a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,166 shares of the company’s stock, valued at approximately $347,000.

Several other hedge funds have also modified their holdings of the stock. Van ECK Associates Corp lifted its holdings in shares of Wheaton Precious Metals by 6.4% during the fourth quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company’s stock valued at $1,154,843,000 after purchasing an additional 1,231,999 shares during the last quarter. FMR LLC lifted its holdings in shares of Wheaton Precious Metals by 33.7% during the third quarter. FMR LLC now owns 14,665,913 shares of the company’s stock valued at $895,723,000 after purchasing an additional 3,692,594 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Wheaton Precious Metals by 22.5% during the third quarter. The Manufacturers Life Insurance Company now owns 3,456,230 shares of the company’s stock valued at $211,207,000 after purchasing an additional 634,843 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Wheaton Precious Metals by 21.3% during the third quarter. National Bank of Canada FI now owns 2,923,402 shares of the company’s stock valued at $178,551,000 after purchasing an additional 513,890 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Wheaton Precious Metals by 11.8% in the 4th quarter. CIBC Asset Management Inc now owns 2,541,133 shares of the company’s stock worth $144,356,000 after acquiring an additional 267,973 shares in the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Price Performance

Shares of WPM stock opened at $73.82 on Friday. Wheaton Precious Metals Corp. has a fifty-two week low of $43.18 and a fifty-two week high of $74.93. The stock’s 50-day moving average is $64.40 and its two-hundred day moving average is $62.60. The firm has a market cap of $33.49 billion, a P/E ratio of 55.09, a PEG ratio of 1.91 and a beta of 0.77.

Wheaton Precious Metals Increases Dividend

The company also recently announced 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. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a yield of 0.89%. The ex-dividend date is Tuesday, April 1st. Wheaton Precious Metals’s dividend payout ratio is presently 46.27%.

Wall Street Analysts Forecast Growth

WPM has been the subject of several research analyst reports. Stifel Canada raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. UBS Group initiated coverage on Wheaton Precious Metals in a research note on Monday, November 18th. They issued a “buy” rating and a $78.00 price objective for the company. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Wheaton Precious Metals currently has an average rating of “Buy” and a consensus price target of $71.67.

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.