International Assets Investment Management LLC trimmed its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,608 shares of the company’s stock after selling 242 shares during the period. International Assets Investment Management LLC’s holdings in Wheaton Precious Metals were worth $326,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Investment Partners Asset Management Inc. bought a new stake in shares of Wheaton Precious Metals during the fourth quarter worth approximately $499,000. Bristlecone Advisors LLC raised its stake in shares of Wheaton Precious Metals by 3.0% during the fourth quarter. Bristlecone Advisors LLC now owns 53,982 shares of the company’s stock worth $2,663,000 after buying an additional 1,576 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Wheaton Precious Metals by 0.8% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 1,709,376 shares of the company’s stock valued at $84,221,000 after purchasing an additional 13,679 shares in the last quarter. CENTRAL TRUST Co increased its stake in Wheaton Precious Metals by 2,400.0% in the fourth quarter. CENTRAL TRUST Co now owns 1,250 shares of the company’s stock valued at $62,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Addenda Capital Inc. increased its stake in Wheaton Precious Metals by 55.3% in the fourth quarter. Addenda Capital Inc. now owns 619,975 shares of the company’s stock valued at $30,590,000 after purchasing an additional 220,880 shares in the last quarter. 70.34% of the stock is owned by institutional investors.
Wheaton Precious Metals Trading Down 2.1 %
Shares of WPM opened at $56.60 on Thursday. Wheaton Precious Metals Corp. has a 12 month low of $38.37 and a 12 month high of $57.87. The firm has a fifty day simple moving average of $51.21 and a 200 day simple moving average of $47.97. The stock has a market capitalization of $25.66 billion, a price-to-earnings ratio of 43.54, a PEG ratio of 7.69 and a beta of 0.75.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last announced its earnings results on Thursday, May 9th. The company reported $0.36 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $278.95 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. The firm’s revenue was up 38.7% on a year-over-year basis. As a group, research analysts predict that Wheaton Precious Metals Corp. will post 1.28 earnings per share 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. Investors of record on Wednesday, May 29th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 1.10%. The ex-dividend date is Wednesday, May 29th. Wheaton Precious Metals’s payout ratio is 47.69%.
Analysts Set New Price Targets
Several equities research analysts have commented on WPM shares. National Bank Financial downgraded shares of Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, February 21st. Raymond James lowered their target price on shares of 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. TD Securities raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating and upped their target price for the company from $51.00 to $53.00 in a research note on Monday, March 18th. Jefferies Financial Group upped their target price on shares of Wheaton Precious Metals from $52.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Finally, Berenberg Bank upped their target price on shares of Wheaton Precious Metals from $54.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Wheaton Precious Metals has an average rating of “Moderate Buy” and an average price target of $58.95.
Get Our Latest Analysis on Wheaton Precious Metals
Wheaton Precious Metals Company 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.
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