Concurrent Investment Advisors LLC Cuts Stock Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Concurrent Investment Advisors LLC lessened its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 15.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,156 shares of the company’s stock after selling 732 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Wheaton Precious Metals were worth $254,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. TD Asset Management Inc lifted its position in Wheaton Precious Metals by 71.2% during the first quarter. TD Asset Management Inc now owns 4,857,837 shares of the company’s stock valued at $229,026,000 after acquiring an additional 2,019,722 shares during the last quarter. Canoe Financial LP acquired a new stake in shares of Wheaton Precious Metals in the 3rd quarter worth $113,017,000. AMF Tjanstepension AB increased its position in Wheaton Precious Metals by 593.5% during the 2nd quarter. AMF Tjanstepension AB now owns 1,608,134 shares of the company’s stock valued at $84,388,000 after buying an additional 1,376,231 shares in the last quarter. Barings LLC purchased a new stake in Wheaton Precious Metals in the second quarter valued at about $65,405,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Wheaton Precious Metals by 16.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,309,175 shares of the company’s stock worth $344,483,000 after acquiring an additional 1,010,307 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Down 5.9 %

Shares of WPM opened at $61.02 on Tuesday. The company has a market capitalization of $27.68 billion, a price-to-earnings ratio of 45.54, a PEG ratio of 2.37 and a beta of 0.77. Wheaton Precious Metals Corp. has a 52 week low of $38.57 and a 52 week high of $68.64. The stock’s 50-day moving average price is $62.77 and its 200-day moving average price is $58.71.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Friday, November 8th. The company reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. The business had revenue of $308.25 million for the quarter, compared to analyst estimates of $324.57 million. Wheaton Precious Metals had a return on equity of 8.91% and a net margin of 50.05%. During the same quarter in the prior year, the firm posted $0.27 EPS. As a group, equities analysts anticipate that Wheaton Precious Metals Corp. will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 21st will be given a dividend of $0.155 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.62 annualized dividend and a yield of 1.02%. Wheaton Precious Metals’s dividend payout ratio is presently 46.27%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. National Bank Financial upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. TD Securities boosted their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a report on Friday. Stifel Canada lowered Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Jefferies Financial Group boosted their price target on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, Scotiabank raised their price objective on Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $70.88.

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.