Wheaton Precious Metals Corp. (NYSE:WPM) Shares Sold by Avanza Fonder AB

Avanza Fonder AB trimmed its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 17.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,854 shares of the company's stock after selling 7,800 shares during the quarter. Avanza Fonder AB's holdings in Wheaton Precious Metals were worth $2,783,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in Wheaton Precious Metals during the 4th quarter worth approximately $20,790,000. Sei Investments Co. lifted its position in Wheaton Precious Metals by 25.7% during the 4th quarter. Sei Investments Co. now owns 40,769 shares of the company's stock worth $2,293,000 after acquiring an additional 8,331 shares during the period. Bank of New York Mellon Corp lifted its position in Wheaton Precious Metals by 9.1% during the 4th quarter. Bank of New York Mellon Corp now owns 399,035 shares of the company's stock worth $22,442,000 after acquiring an additional 33,256 shares during the period. Gotham Asset Management LLC lifted its position in Wheaton Precious Metals by 83.8% during the 4th quarter. Gotham Asset Management LLC now owns 6,324 shares of the company's stock worth $356,000 after acquiring an additional 2,884 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Wheaton Precious Metals by 4.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 993,432 shares of the company's stock worth $55,889,000 after acquiring an additional 37,892 shares during the period. 70.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WPM has been the subject of several recent analyst reports. Royal Bank of Canada raised their price target on Wheaton Precious Metals from $80.00 to $90.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. National Bankshares reissued an "outperform" rating on shares of Wheaton Precious Metals in a report on Wednesday, April 23rd. Raymond James raised their price target on Wheaton Precious Metals from $88.00 to $90.00 and gave the company an "outperform" rating in a report on Tuesday, April 15th. Scotiabank raised their price target on Wheaton Precious Metals from $79.00 to $87.00 and gave the company a "sector outperform" rating in a report on Monday, April 14th. Finally, BMO Capital Markets initiated coverage on Wheaton Precious Metals in a report on Wednesday, April 16th. They issued an "outperform" rating and a $129.00 price target for the company. 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 stock. According to data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of "Buy" and an average price target of $86.90.

Wheaton Precious Metals Trading Up 1.3%

Shares of WPM traded up $1.12 during midday trading on Thursday, reaching $90.28. 1,945,171 shares of the company were exchanged, compared to its average volume of 1,687,127. The stock has a 50-day moving average price of $83.40 and a 200-day moving average price of $71.37. The company has a market cap of $40.97 billion, a price-to-earnings ratio of 67.37, a P/E/G ratio of 1.91 and a beta of 0.46. Wheaton Precious Metals Corp. has a 1-year low of $51.96 and a 1-year high of $95.23.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.05. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The company had revenue of $470.41 million for the quarter, compared to analysts' expectations of $446.33 million. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The firm's quarterly revenue was up 58.4% on a year-over-year basis. Equities research analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Wednesday, May 28th. Wheaton Precious Metals's dividend payout ratio (DPR) is 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.