Wheaton Precious Metals Corp. (NYSE:WPM) Shares Sold by Evergreen Capital Management LLC

Evergreen Capital Management LLC cut its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 20.1% during the 2nd quarter, Holdings Channel reports. The firm owned 9,194 shares of the company’s stock after selling 2,307 shares during the period. Evergreen Capital Management LLC’s holdings in Wheaton Precious Metals were worth $482,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of WPM. Ridgewood Investments LLC acquired a new position in Wheaton Precious Metals during the second quarter worth about $31,000. St. Johns Investment Management Company LLC bought a new stake in shares of Wheaton Precious Metals in the 1st quarter worth approximately $52,000. Western Pacific Wealth Management LP lifted its stake 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 valued at $63,000 after purchasing an additional 218 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in Wheaton Precious Metals by 25.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock worth $65,000 after buying an additional 253 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in Wheaton Precious Metals in the first quarter worth approximately $75,000. Institutional investors own 70.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Raymond James increased their price objective on Wheaton Precious Metals from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday. CIBC increased their price target on Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. TD Securities cut their price objective 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. Bank of America raised their target price on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Finally, Jefferies Financial Group boosted their price target on shares of Wheaton Precious Metals from $62.00 to $67.00 and gave the company a “buy” rating in a report on Friday, July 12th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.63.

Wheaton Precious Metals Stock Performance

WPM stock opened at $64.14 on Thursday. The firm has a 50 day simple moving average of $59.86 and a 200 day simple moving average of $55.18. Wheaton Precious Metals Corp. has a 52 week low of $38.37 and a 52 week high of $64.48. The stock has a market cap of $29.10 billion, a P/E ratio of 49.34, a P/E/G ratio of 2.27 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 EPS 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 business had revenue of $299.06 million for the quarter, compared to analysts’ expectations of $309.54 million. During the same period in the previous year, the company posted $0.31 EPS. Wheaton Precious Metals’s revenue was up 12.9% on a year-over-year basis. Sell-side analysts predict that Wheaton Precious Metals Corp. will post 1.41 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 47.69%.

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.