Commonwealth Equity Services LLC Sells 10,331 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Commonwealth Equity Services LLC cut its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 10.2% during the 4th quarter, Holdings Channel reports. The firm owned 91,125 shares of the company’s stock after selling 10,331 shares during the period. Commonwealth Equity Services LLC’s holdings in Wheaton Precious Metals were worth $5,125,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc bought a new position in shares of Wheaton Precious Metals during the fourth quarter worth approximately $29,000. Promus Capital LLC bought a new position in shares of Wheaton Precious Metals during the fourth quarter worth approximately $32,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Wheaton Precious Metals during the fourth quarter worth approximately $38,000. Laurel Wealth Advisors LLC bought a new position in Wheaton Precious Metals in the fourth quarter valued at approximately $39,000. Finally, Quintet Private Bank Europe S.A. bought a new position in Wheaton Precious Metals in the fourth quarter valued at approximately $39,000. 70.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WPM has been the topic of a number of recent analyst reports. Scotiabank lifted their price objective on shares of Wheaton Precious Metals from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research note on Monday, March 17th. Stifel Canada raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $72.44.

Wheaton Precious Metals Stock Performance

NYSE WPM opened at $75.02 on Friday. The firm’s fifty day moving average price is $66.57 and its two-hundred day moving average price is $63.19. The stock has a market cap of $34.03 billion, a PE ratio of 55.98, a PEG ratio of 1.91 and a beta of 0.76. Wheaton Precious Metals Corp. has a fifty-two week low of $44.57 and a fifty-two week high of $77.44.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, March 13th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The company had revenue of $380.52 million for the quarter, compared to the consensus estimate of $395.74 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 EPS. As a group, sell-side analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Tuesday, April 1st. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.16. Wheaton Precious Metals’s payout ratio is 49.25%.

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.