Wheaton Precious Metals Corp. (NYSE:WPM) Shares Sold by AE Wealth Management LLC

Key Points

• AE Wealth Management LLC reduced its stake in Wheaton Precious Metals Corp. by 30.8%, owning 6,800 shares valued at $528,000 after selling 3,021 shares.
• Institutional investors collectively hold 70.34% of the company's stock, with various funds increasing their positions significantly in recent quarters.
• A majority of analysts recommend buying Wheaton Precious Metals stock, with an average price target of $93.00 following a recent quarterly earnings report that exceeded expectations.

AE Wealth Management LLC trimmed its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 30.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,800 shares of the company's stock after selling 3,021 shares during the quarter. AE Wealth Management LLC's holdings in Wheaton Precious Metals were worth $528,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. NBT Bank N A NY raised its position in Wheaton Precious Metals by 129.3% in the 1st quarter. NBT Bank N A NY now owns 415 shares of the company's stock worth $32,000 after purchasing an additional 234 shares during the period. Princeton Global Asset Management LLC purchased a new position in shares of Wheaton Precious Metals during the first quarter worth approximately $52,000. Headlands Technologies LLC increased its position in shares of Wheaton Precious Metals by 494.9% during the fourth quarter. Headlands Technologies LLC now owns 696 shares of the company's stock worth $39,000 after acquiring an additional 579 shares during the period. Penserra Capital Management LLC increased its position in shares of Wheaton Precious Metals by 1,812.8% during the first quarter. Penserra Capital Management LLC now owns 746 shares of the company's stock worth $57,000 after acquiring an additional 707 shares during the period. Finally, Whittier Trust Co. increased its position in shares of Wheaton Precious Metals by 77.4% during the first quarter. Whittier Trust Co. now owns 763 shares of the company's stock worth $59,000 after acquiring an additional 333 shares during the period. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on WPM shares. Wall Street Zen raised shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Royal Bank Of Canada raised their target price on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. BMO Capital Markets assumed coverage on shares of Wheaton Precious Metals in a research note on Wednesday, April 16th. They issued an "outperform" rating and a $129.00 target price for the company. National Bankshares reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. Finally, Scotiabank lifted their price objective on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a "sector outperform" rating in a research note on Monday, April 14th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $93.00.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock traded up $0.60 during trading on Friday, hitting $92.11. 1,622,044 shares of the company's stock were exchanged, compared to its average volume of 1,833,298. Wheaton Precious Metals Corp. has a 52-week low of $53.05 and a 52-week high of $96.83. The business has a 50-day simple moving average of $90.20 and a 200-day simple moving average of $78.99. The stock has a market capitalization of $41.81 billion, a price-to-earnings ratio of 67.73, a PEG ratio of 2.54 and a beta of 0.46.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.05. The company had revenue of $470.41 million during the quarter, compared to analysts' expectations of $446.33 million. Wheaton Precious Metals had a net margin of 42.45% and a return on equity of 10.32%. The firm's revenue for the quarter was up 58.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.36 earnings per share. On average, equities analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.7%. Wheaton Precious Metals's payout ratio is currently 48.53%.

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.