Franklin Resources Inc. Cuts Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Franklin Resources Inc. lessened its stake in Wheaton Precious Metals Corp. (NYSE:WPMGet Rating) by 68.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,329,328 shares of the company’s stock after selling 5,002,744 shares during the period. Franklin Resources Inc.’s holdings in Wheaton Precious Metals were worth $83,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WPM. SeaCrest Wealth Management LLC purchased a new position in Wheaton Precious Metals in the second quarter valued at about $26,000. Janiczek Wealth Management LLC grew its stake in Wheaton Precious Metals by 1,319.6% in the second quarter. Janiczek Wealth Management LLC now owns 795 shares of the company’s stock valued at $27,000 after purchasing an additional 739 shares during the last quarter. Rational Advisors LLC grew its stake in shares of Wheaton Precious Metals by 59.2% during the first quarter. Rational Advisors LLC now owns 914 shares of the company’s stock worth $43,000 after acquiring an additional 340 shares during the last quarter. CWM LLC grew its stake in shares of Wheaton Precious Metals by 28.3% during the second quarter. CWM LLC now owns 1,633 shares of the company’s stock worth $59,000 after acquiring an additional 360 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Wheaton Precious Metals by 26.7% during the second quarter. Fifth Third Bancorp now owns 2,531 shares of the company’s stock worth $91,000 after acquiring an additional 534 shares during the last quarter. Hedge funds and other institutional investors own 56.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on WPM shares. Raymond James dropped their price target on Wheaton Precious Metals from $54.00 to $52.00 and set an “outperform” rating on the stock in a research note on Monday, August 15th. Stifel Nicolaus dropped their price target on Wheaton Precious Metals from C$66.50 to C$64.00 in a research note on Wednesday, October 19th. Barclays dropped their price target on Wheaton Precious Metals from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, October 17th. StockNews.com started coverage on Wheaton Precious Metals in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, National Bank Financial dropped their price target on Wheaton Precious Metals from C$68.00 to C$60.00 in a research note on Thursday, October 13th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and an average price target of $52.43.

Wheaton Precious Metals Stock Up 1.0 %

Shares of NYSE WPM opened at $38.59 on Thursday. The business’s 50 day moving average price is $33.41 and its 200 day moving average price is $35.25. The firm has a market cap of $17.44 billion, a P/E ratio of 21.93, a P/E/G ratio of 6.49 and a beta of 0.46. Wheaton Precious Metals Corp. has a 52 week low of $28.62 and a 52 week high of $51.90.

Wheaton Precious Metals (NYSE:WPMGet Rating) last issued its earnings results on Thursday, November 3rd. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The firm had revenue of $218.84 million during the quarter, compared to analysts’ expectations of $237.90 million. Wheaton Precious Metals had a net margin of 71.79% and a return on equity of 8.35%. As a group, research analysts expect that Wheaton Precious Metals Corp. will post 1.18 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 21st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Friday, November 18th. Wheaton Precious Metals’s payout ratio is presently 34.09%.

Wheaton Precious Metals Profile

(Get Rating)

Wheaton Precious Metals Corp., a streaming company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has a portfolio of interests in the 23 operating mines and 13 development projects. The company was formerly known as Silver Wheaton Corp.

See Also

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Institutional Ownership by Quarter for Wheaton Precious Metals (NYSE:WPM)

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