Renaissance Technologies LLC Trims Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Renaissance Technologies LLC decreased its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 21.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,160,808 shares of the company’s stock after selling 312,500 shares during the period. Renaissance Technologies LLC owned 0.26% of Wheaton Precious Metals worth $60,850,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Ridgewood Investments LLC acquired a new position in Wheaton Precious Metals in the second quarter valued at $31,000. Principal Securities Inc. purchased a new position in Wheaton Precious Metals during the 4th quarter worth approximately $39,000. St. Johns Investment Management Company LLC acquired a new position in Wheaton Precious Metals during the first quarter worth approximately $52,000. Massmutual Trust Co. FSB ADV lifted its stake in Wheaton Precious Metals by 25.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock valued at $65,000 after buying an additional 253 shares during the last quarter. Finally, Western Pacific Wealth Management LP boosted its holdings in shares of 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 acquiring an additional 218 shares during the period. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. TD Securities reduced their price target on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Scotiabank upped their target price on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Bank of America raised their price target on Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. BMO Capital Markets upped their price objective on Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Finally, Jefferies Financial Group lifted their target price on Wheaton Precious Metals from $62.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and an average target price of $67.50.

Wheaton Precious Metals Stock Performance

NYSE:WPM opened at $61.71 on Wednesday. Wheaton Precious Metals Corp. has a 1 year low of $38.37 and a 1 year high of $63.13. The stock has a fifty day moving average price of $59.44 and a two-hundred day moving average price of $54.32. The stock has a market capitalization of $27.99 billion, a price-to-earnings ratio of 47.47, a PEG ratio of 2.26 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $309.54 million. During the same quarter last year, the firm posted $0.31 EPS. The business’s revenue was up 12.9% compared to the same quarter last year. On average, analysts predict that Wheaton Precious Metals Corp. will post 1.4 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.00%. Wheaton Precious Metals’s payout ratio is 47.69%.

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.