SG Americas Securities LLC Cuts Stock Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

SG Americas Securities LLC lowered its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 87.8% in the second quarter, Holdings Channel.com reports. The firm owned 3,590 shares of the company’s stock after selling 25,912 shares during the quarter. SG Americas Securities LLC’s holdings in Wheaton Precious Metals were worth $188,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Capital International Inc. CA lifted its holdings in shares of Wheaton Precious Metals by 2.5% in the 1st quarter. Capital International Inc. CA now owns 8,308 shares of the company’s stock valued at $392,000 after buying an additional 204 shares during the period. Western Pacific Wealth Management LP grew its holdings in Wheaton Precious Metals by 19.6% during the first quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock worth $63,000 after acquiring an additional 218 shares during the period. Brookstone Capital Management raised its position in Wheaton Precious Metals by 5.3% in the first quarter. Brookstone Capital Management now owns 4,771 shares of the company’s stock worth $225,000 after acquiring an additional 240 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Wheaton Precious Metals by 25.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock valued at $65,000 after acquiring an additional 253 shares during the period. Finally, Hexagon Capital Partners LLC boosted its position in shares of Wheaton Precious Metals by 30.8% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,159 shares of the company’s stock worth $57,000 after purchasing an additional 273 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Up 1.8 %

NYSE WPM opened at $62.11 on Friday. Wheaton Precious Metals Corp. has a fifty-two week low of $38.37 and a fifty-two week high of $63.06. The business has a fifty day moving average of $57.10 and a 200-day moving average of $52.22. The stock has a market cap of $28.18 billion, a price-to-earnings ratio of 47.78, a price-to-earnings-growth ratio of 2.20 and a beta of 0.76.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The firm had revenue of $299.06 million during the quarter, compared to the consensus estimate of $309.54 million. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.31 EPS. As a group, analysts anticipate that Wheaton Precious Metals Corp. will post 1.38 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st will be paid a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.62 annualized dividend and a yield of 1.00%. Wheaton Precious Metals’s payout ratio is currently 47.69%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. BMO Capital Markets raised their price objective on shares of Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Jefferies Financial Group boosted their price target on Wheaton Precious Metals from $62.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Scotiabank raised their price objective on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. TD Securities decreased their target price on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Finally, Berenberg Bank raised their price target on Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $67.50.

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.