Wheaton Precious Metals Corp. (NYSE:WPM) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC trimmed its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 13.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,066 shares of the company’s stock after selling 12,255 shares during the period. Private Advisor Group LLC’s holdings in Wheaton Precious Metals were worth $4,040,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ridgewood Investments LLC acquired a new stake in shares of Wheaton Precious Metals during the second quarter valued at about $31,000. Principal Securities Inc. purchased a new position in Wheaton Precious Metals in the fourth quarter valued at about $39,000. St. Johns Investment Management Company LLC purchased a new position in Wheaton Precious Metals in the first quarter valued at about $52,000. Western Pacific Wealth Management LP grew its stake 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 valued at $55,000 after purchasing an additional 359 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Wheaton Precious Metals by 25.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock worth $65,000 after purchasing an additional 253 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

Shares of NYSE WPM opened at $59.41 on Wednesday. The firm has a market capitalization of $26.95 billion, a PE ratio of 45.70, a P/E/G ratio of 2.13 and a beta of 0.78. Wheaton Precious Metals Corp. has a 1-year low of $38.37 and a 1-year high of $63.06. The business’s fifty day moving average price is $58.95 and its two-hundred day moving average price is $53.71.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $299.06 million for the quarter, compared to analysts’ expectations of $309.54 million. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 EPS. Equities research analysts expect that Wheaton Precious Metals Corp. will post 1.4 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.155 per share. The ex-dividend date was Wednesday, August 21st. This represents a $0.62 annualized dividend and a dividend yield of 1.04%. Wheaton Precious Metals’s dividend payout ratio is presently 47.69%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WPM. CIBC raised their price target on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Jefferies Financial Group boosted their target price on shares of Wheaton Precious Metals from $62.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Scotiabank increased their price target on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. BMO Capital Markets boosted their price objective on Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, May 21st. Finally, TD Securities reduced their target price on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.50.

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.