Bowen Hanes & Co. Inc. trimmed its holdings in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 13.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 566,050 shares of the company's stock after selling 87,595 shares during the quarter. Bowen Hanes & Co. Inc. owned about 0.12% of Wheaton Precious Metals worth $43,942,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in WPM. Cerity Partners LLC boosted its stake in Wheaton Precious Metals by 5.5% during the 1st quarter. Cerity Partners LLC now owns 20,271 shares of the company's stock valued at $1,574,000 after purchasing an additional 1,058 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Wheaton Precious Metals by 37.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,109 shares of the company's stock valued at $630,000 after purchasing an additional 2,208 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Wheaton Precious Metals by 5.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 5,392 shares of the company's stock valued at $419,000 after purchasing an additional 297 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new position in Wheaton Precious Metals during the 1st quarter valued at $531,000. Finally, Principal Financial Group Inc. boosted its stake in Wheaton Precious Metals by 34.6% during the 1st quarter. Principal Financial Group Inc. now owns 25,244 shares of the company's stock valued at $1,959,000 after purchasing an additional 6,486 shares in the last quarter. 70.34% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. National Bankshares reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. BMO Capital Markets reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. Scotiabank increased their price objective on Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 12th. CIBC reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, July 15th. Finally, Wall Street Zen downgraded Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Wheaton Precious Metals currently has an average rating of "Moderate Buy" and an average target price of $97.33.
Read Our Latest Stock Analysis on WPM
Wheaton Precious Metals Stock Up 1.1%
Shares of WPM traded up $1.03 during mid-day trading on Thursday, reaching $94.27. The company's stock had a trading volume of 1,281,366 shares, compared to its average volume of 1,867,105. The business has a fifty day moving average of $92.26 and a 200 day moving average of $82.72. The company has a market cap of $42.79 billion, a price-to-earnings ratio of 54.49, a price-to-earnings-growth ratio of 2.59 and a beta of 0.39. Wheaton Precious Metals Corp. has a 1 year low of $55.47 and a 1 year high of $103.81.
Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.05. The company had revenue of $503.22 million during the quarter, compared to analyst estimates of $424.23 million. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The company's revenue for the quarter was up 68.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 earnings per share. On average, analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.
Wheaton Precious Metals Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be issued a $0.165 dividend. The ex-dividend date is Thursday, August 21st. 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 presently 38.15%.
About Wheaton Precious Metals
(
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.
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