Pictet Asset Management Holding SA Sells 51,047 Shares of Wheaton Precious Metals Corp. $WPM

Pictet Asset Management Holding SA cut its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 16.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 256,017 shares of the company’s stock after selling 51,047 shares during the period. Pictet Asset Management Holding SA owned 0.06% of Wheaton Precious Metals worth $34,271,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in WPM. CenterBook Partners LP grew its stake in Wheaton Precious Metals by 20.2% during the third quarter. CenterBook Partners LP now owns 6,733 shares of the company’s stock worth $900,000 after buying an additional 1,133 shares during the period. Calamos Wealth Management LLC boosted its holdings in Wheaton Precious Metals by 5.2% in the third quarter. Calamos Wealth Management LLC now owns 1,886 shares of the company’s stock valued at $252,000 after purchasing an additional 93 shares during the last quarter. Principle Wealth Partners LLC boosted its holdings in Wheaton Precious Metals by 1.2% in the third quarter. Principle Wealth Partners LLC now owns 8,446 shares of the company’s stock valued at $1,129,000 after purchasing an additional 100 shares during the last quarter. Pathway Financial Advisers LLC acquired a new stake in Wheaton Precious Metals during the 3rd quarter valued at approximately $34,000. Finally, Kestra Private Wealth Services LLC grew its stake in Wheaton Precious Metals by 22.1% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 3,744 shares of the company’s stock valued at $501,000 after purchasing an additional 677 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Scotiabank dropped their price objective on Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. Weiss Ratings lowered shares of Wheaton Precious Metals from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, October 23rd. Berenberg Bank reaffirmed a “buy” rating and set a $157.00 price target (down from $160.00) on shares of Wheaton Precious Metals in a research report on Thursday, September 17th. UBS Group lifted their price target on Wheaton Precious Metals from $153.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, October 8th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $180.00 price objective on shares of Wheaton Precious Metals in a report on Friday. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and an average target price of $172.90.

Wheaton Precious Metals Stock Performance

WPM stock opened at $136.83 on Wednesday. The stock’s 50 day simple moving average is $138.10 and its 200 day simple moving average is $133.72. Wheaton Precious Metals Corp. has a 12-month low of $98.51 and a 12-month high of $165.76. The firm has a market cap of $62.15 billion, a P/E ratio of 29.75, a P/E/G ratio of 2.84 and a beta of 0.56. The company has a current ratio of 0.57, a quick ratio of 0.47 and a debt-to-equity ratio of 0.16.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.01). Wheaton Precious Metals had a return on equity of 22.20% and a net margin of 60.39%. The business had revenue of $771.73 million during the quarter, compared to analyst estimates of $787.10 million. As a group, equities research analysts predict that Wheaton Precious Metals Corp. will post 4.54 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, November 19th will be issued a $0.1950 dividend. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $0.78 annualized dividend and a dividend yield of 0.6%. Wheaton Precious Metals’s payout ratio is 16.96%.

About Wheaton Precious Metals

Wheaton Precious Metals is a precious metals streaming company that provides mining companies with upfront financing in exchange for the right to purchase a portion of the metals produced by their mines. Its streams cover gold and silver, as well as smaller amounts of palladium and cobalt. Rather than operating mines itself, Wheaton works with mining companies around the world. Under its agreements, it typically makes an initial payment and additional payments for metals delivered, giving it exposure to mine production without directly managing mining operations.