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Barings LLC Cuts Stock Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Wheaton Precious Metals logo with Basic Materials background

Key Points

  • Barings LLC reduced its stake in Wheaton Precious Metals by 17.6%, holding 468,069 shares after selling 99,964 shares in the first quarter.
  • Analysts have increased their price targets for Wheaton Precious Metals, with estimates now ranging from $87.00 to $129.00, reflecting a generally positive outlook.
  • Wheaton Precious Metals recently announced a quarterly dividend of $0.165 per share, representing a yield of 0.7% and a payout ratio of 48.53%.
  • Five stocks we like better than Wheaton Precious Metals.

Barings LLC trimmed its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 17.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 468,069 shares of the company's stock after selling 99,964 shares during the period. Wheaton Precious Metals comprises about 0.9% of Barings LLC's portfolio, making the stock its 15th largest holding. Barings LLC owned approximately 0.10% of Wheaton Precious Metals worth $36,328,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. lifted its stake in Wheaton Precious Metals by 5.6% in the 1st quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 22,700 shares of the company's stock worth $1,767,000 after purchasing an additional 1,200 shares in the last quarter. EagleClaw Capital Managment LLC lifted its stake in Wheaton Precious Metals by 2.6% in the 1st quarter. EagleClaw Capital Managment LLC now owns 165,067 shares of the company's stock worth $12,814,000 after purchasing an additional 4,150 shares in the last quarter. US Bancorp DE lifted its stake in Wheaton Precious Metals by 2.4% in the 1st quarter. US Bancorp DE now owns 9,901 shares of the company's stock worth $769,000 after purchasing an additional 228 shares in the last quarter. Wealthquest Corp purchased a new position in Wheaton Precious Metals in the 1st quarter worth approximately $213,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Wheaton Precious Metals in the 1st quarter worth approximately $282,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Trading Up 0.7%

Wheaton Precious Metals stock traded up $0.60 during trading on Friday, hitting $92.11. The company had a trading volume of 1,622,166 shares, compared to its average volume of 1,751,247. Wheaton Precious Metals Corp. has a 1-year low of $53.05 and a 1-year high of $96.83. The company's 50 day simple moving average is $90.31 and its 200-day simple moving average is $79.53. The stock has a market cap of $41.81 billion, a price-to-earnings ratio of 67.73, a price-to-earnings-growth ratio of 2.58 and a beta of 0.39.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.05. Wheaton Precious Metals had a net margin of 42.45% and a return on equity of 10.32%. The firm had revenue of $470.41 million during the quarter, compared to the consensus estimate of $446.33 million. During the same quarter last year, the firm earned $0.36 EPS. The firm's revenue for the quarter was up 58.4% on a year-over-year basis. As a group, analysts forecast 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 disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were given 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 dividend payout ratio is currently 48.53%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WPM. National Bankshares reissued an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. CIBC reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, July 15th. Berenberg Bank lifted their price target on shares of Wheaton Precious Metals from $87.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Scotiabank lifted their price target on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the company a "sector outperform" rating in a research report on Monday, April 14th. Finally, Raymond James Financial lifted their price target on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the company an "outperform" rating in a research report on Tuesday, April 15th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $93.00.

Read Our Latest Stock Report on Wheaton Precious Metals

Wheaton Precious Metals Profile

(Free Report)

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.

Further Reading

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

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