Wheaton Precious Metals Corp. (NYSE:WPM) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 42.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,200 shares of the company’s stock after selling 3,822 shares during the quarter. Truist Financial Corp’s holdings in Wheaton Precious Metals were worth $273,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in WPM. Ridgewood Investments LLC acquired a new stake in Wheaton Precious Metals during the second quarter valued at approximately $31,000. Abich Financial Wealth Management LLC bought a new position in shares of Wheaton Precious Metals in the second quarter valued at $31,000. Sunbelt Securities Inc. acquired a new stake in shares of Wheaton Precious Metals during the 2nd quarter valued at $47,000. St. Johns Investment Management Company LLC bought a new stake in shares of Wheaton Precious Metals during the 1st quarter worth $52,000. Finally, Western Pacific Wealth Management LP raised its position in shares of 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 purchasing an additional 218 shares during the period. Institutional investors own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

WPM has been the subject of a number of recent analyst reports. Raymond James increased their price target on Wheaton Precious Metals from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. Scotiabank raised their target price on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Berenberg Bank boosted 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. National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group boosted their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, Wheaton Precious Metals currently has a consensus rating of “Buy” and an average target price of $69.88.

Wheaton Precious Metals Stock Up 4.6 %

Wheaton Precious Metals stock opened at $66.49 on Friday. Wheaton Precious Metals Corp. has a 12 month low of $38.57 and a 12 month high of $66.75. The company’s fifty day simple moving average is $61.09 and its 200-day simple moving average is $57.03. The stock has a market cap of $30.16 billion, a P/E ratio of 52.77, a P/E/G ratio of 2.18 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $299.06 million for the quarter, compared to the consensus estimate of $309.54 million. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 earnings per share. On average, equities research analysts expect that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date was Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 49.21%.

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.