Wheaton Precious Metals Corp. (NYSE:WPM) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC decreased its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 13.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 966,950 shares of the company’s stock after selling 145,800 shares during the period. Gabelli Funds LLC’s holdings in Wheaton Precious Metals were worth $50,688,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. AdvisorNet Financial Inc lifted its holdings in Wheaton Precious Metals by 6.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company’s stock worth $175,000 after buying an additional 190 shares in the last quarter. Capital International Inc. CA lifted its stake in shares of Wheaton Precious Metals by 2.5% in the first quarter. Capital International Inc. CA now owns 8,308 shares of the company’s stock worth $392,000 after acquiring an additional 204 shares in the last quarter. Western Pacific Wealth Management LP boosted its holdings in Wheaton Precious Metals by 19.6% in the first quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock valued at $63,000 after purchasing an additional 218 shares during the last quarter. Brookstone Capital Management grew its stake in Wheaton Precious Metals by 5.3% during the 1st quarter. Brookstone Capital Management now owns 4,771 shares of the company’s stock valued at $225,000 after purchasing an additional 240 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake 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 valued at $65,000 after purchasing an additional 253 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Up 0.6 %

WPM stock opened at $62.60 on Friday. The stock has a market cap of $28.40 billion, a PE ratio of 48.15, a price-to-earnings-growth ratio of 2.29 and a beta of 0.78. The firm’s 50-day simple moving average is $59.73 and its 200 day simple moving average is $54.78. Wheaton Precious Metals Corp. has a fifty-two week low of $38.37 and a fifty-two week high of $64.27.

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

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were given a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 dividend on an annualized basis and a yield of 0.99%. Wheaton Precious Metals’s dividend payout ratio is presently 47.69%.

Analyst Ratings Changes

Several equities analysts have recently commented on WPM shares. Scotiabank increased their target price 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. Jefferies Financial Group raised their price objective on shares of Wheaton Precious Metals from $62.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, July 12th. CIBC upped their target price on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Bank of America lifted their price target on Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Finally, Berenberg Bank lifted their price target on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Three equities research 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 stock presently has a consensus rating of “Moderate Buy” and a consensus 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.