Wheaton Precious Metals Corp. $WPM Position Decreased by Wedbush Securities Inc.

Wedbush Securities Inc. cut its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 23.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 5,225 shares of the company’s stock after selling 1,640 shares during the quarter. Wedbush Securities Inc.’s holdings in Wheaton Precious Metals were worth $469,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of WPM. Bulwark Capital Corp purchased a new position in Wheaton Precious Metals during the 2nd quarter worth approximately $27,000. Wealth Preservation Advisors LLC acquired a new stake in Wheaton Precious Metals during the 1st quarter worth about $38,000. Banque Cantonale Vaudoise purchased a new position in Wheaton Precious Metals during the 1st quarter valued at about $49,000. City State Bank increased its holdings in shares of Wheaton Precious Metals by 40.0% in the 2nd quarter. City State Bank now owns 560 shares of the company’s stock valued at $50,000 after purchasing an additional 160 shares during the period. Finally, Whittier Trust Co. lifted its position in shares of Wheaton Precious Metals by 77.4% in the first quarter. Whittier Trust Co. now owns 763 shares of the company’s stock worth $59,000 after purchasing an additional 333 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Trading Up 1.8%

WPM stock opened at $104.13 on Wednesday. The firm has a market cap of $47.28 billion, a PE ratio of 60.19, a PEG ratio of 1.67 and a beta of 0.38. Wheaton Precious Metals Corp. has a 1 year low of $55.47 and a 1 year high of $114.36. The company has a fifty day simple moving average of $104.11 and a 200 day simple moving average of $95.00.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, November 6th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.03. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The company had revenue of $476.26 million for the quarter, compared to analyst estimates of $495.53 million. During the same period last year, the company earned $0.34 earnings per share. The business’s revenue was up 54.5% compared to the same quarter last year. As a group, analysts forecast that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 20th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.6%. The ex-dividend date is Thursday, November 20th. Wheaton Precious Metals’s payout ratio is 30.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WPM. Raymond James Financial boosted their price objective on shares of Wheaton Precious Metals from $114.00 to $127.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Scotiabank reissued an “outperform” rating on shares of Wheaton Precious Metals in a research note on Thursday, October 23rd. CIBC upped their price target on shares of Wheaton Precious Metals from $135.00 to $160.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Bank of America increased their price objective on Wheaton Precious Metals from $127.00 to $132.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Finally, UBS Group boosted their target price on Wheaton Precious Metals from $118.00 to $122.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $124.50.

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.