Hsbc Holdings PLC lessened its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 28.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 588,625 shares of the company’s stock after selling 231,480 shares during the quarter. Hsbc Holdings PLC owned about 0.13% of Wheaton Precious Metals worth $29,037,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. CVA Family Office LLC acquired a new position in Wheaton Precious Metals in the fourth quarter valued at about $26,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Wheaton Precious Metals in the fourth quarter worth about $31,000. Principal Securities Inc. bought a new stake in shares of Wheaton Precious Metals in the fourth quarter worth about $39,000. Fifth Third Bancorp increased its holdings in shares of Wheaton Precious Metals by 230.7% in the fourth quarter. Fifth Third Bancorp now owns 863 shares of the company’s stock worth $43,000 after acquiring an additional 602 shares in the last quarter. Finally, Western Pacific Wealth Management LP grew its holdings in shares of Wheaton Precious Metals by 47.6% during the fourth quarter. Western Pacific Wealth Management LP now owns 1,113 shares of the company’s stock worth $55,000 after buying an additional 359 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently issued reports on WPM. CIBC increased their price objective on Wheaton Precious Metals from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, May 22nd. BMO Capital Markets raised their price target on Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Scotiabank raised their price target on Wheaton Precious Metals from $59.00 to $66.50 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. National Bank Financial downgraded Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, February 21st. Finally, Raymond James decreased their price target on Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating for the company in a research note on Thursday, February 22nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $61.33.
Read Our Latest Stock Analysis on WPM
Wheaton Precious Metals Stock Up 0.3 %
WPM opened at $56.17 on Friday. Wheaton Precious Metals Corp. has a 12-month low of $38.37 and a 12-month high of $57.87. The stock has a market cap of $25.46 billion, a price-to-earnings ratio of 43.21, a PEG ratio of 2.02 and a beta of 0.75. The business has a 50 day moving average of $52.63 and a 200-day moving average of $48.48.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The company had revenue of $296.80 million during the quarter, compared to analysts’ expectations of $278.95 million. Wheaton Precious Metals had a return on equity of 8.53% and a net margin of 53.74%. The business’s revenue was up 38.7% on a year-over-year basis. During the same period last year, the firm posted $0.23 earnings per share. As a group, analysts expect that Wheaton Precious Metals Corp. will post 1.28 earnings per share for the current year.
Wheaton Precious Metals Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Wednesday, May 29th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Wednesday, May 29th. This represents a $0.62 annualized dividend and a yield of 1.10%. Wheaton Precious Metals’s payout ratio is currently 47.69%.
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.
Further Reading
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