C WorldWide Group Holding A S Cuts Position in Wheaton Precious Metals Corp. $WPM

Key Points

• C WorldWide Group Holding A.S. cut its Wheaton Precious Metals position by 77.8% in the second quarter, selling 28,993 shares and retaining 8,266 shares valued at approximately $928,000. Institutional investors collectively own 70.34% of the company.
• Analysts remain broadly positive, with 12 Buy ratings and one Hold rating producing a consensus “Moderate Buy” rating and an average price target of $165.55.
• Wheaton reported quarterly EPS of $1.19, exceeding estimates, while revenue rose 84.7% year over year to $878 million. The company also declared a quarterly dividend of $0.195 per share, equal to a 0.5% annualized yield.

C WorldWide Group Holding A S trimmed its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 77.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,266 shares of the company's stock after selling 28,993 shares during the period. C WorldWide Group Holding A S's holdings in Wheaton Precious Metals were worth $928,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd boosted its position in Wheaton Precious Metals by 100.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company's stock worth $27,000 after purchasing an additional 117 shares during the period. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at about $28,000. Cornerstone Planning Group LLC grew its stake in shares of Wheaton Precious Metals by 245.5% in the first quarter. Cornerstone Planning Group LLC now owns 228 shares of the company's stock valued at $29,000 after buying an additional 162 shares in the last quarter. Navalign LLC purchased a new stake in shares of Wheaton Precious Metals during the 4th quarter valued at about $30,000. Finally, Hollencrest Capital Management lifted its position in Wheaton Precious Metals by 73.5% during the 1st quarter. Hollencrest Capital Management now owns 236 shares of the company's stock worth $31,000 after acquiring an additional 100 shares in the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WPM has been the subject of a number of recent analyst reports. Bank of America lowered their price target on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Royal Bank Of Canada decreased their price objective on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an "outperform" rating for the company in a research report on Thursday, July 9th. Berenberg Bank set a $157.00 target price on Wheaton Precious Metals in a research report on Tuesday, July 28th. Scotiabank cut their price target on Wheaton Precious Metals from $180.00 to $175.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, July 14th. Finally, Wall Street Zen downgraded Wheaton Precious Metals from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Wheaton Precious Metals presently has a consensus rating of "Moderate Buy" and a consensus target price of $165.55.

Wheaton Precious Metals Trading Up 0.0%

NYSE:WPM opened at $154.99 on Wednesday. The company has a market cap of $70.39 billion, a PE ratio of 34.37, a P/E/G ratio of 2.74 and a beta of 0.60. The business's 50 day moving average is $127.92 and its two-hundred day moving average is $131.60. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.20. Wheaton Precious Metals Corp. has a 52 week low of $92.57 and a 52 week high of $165.76.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.15 by $0.04. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%.The business had revenue of $878.00 million during the quarter, compared to the consensus estimate of $879.29 million. During the same period in the previous year, the business earned $0.63 EPS. The business's quarterly revenue was up 84.7% on a year-over-year basis. On average, analysts predict that Wheaton Precious Metals Corp. will post 4.79 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were issued a $0.195 dividend. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.78 annualized dividend and a dividend yield of 0.5%. Wheaton Precious Metals's payout ratio is 17.29%.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. NYSE: WPM is a precious metals streaming company headquartered in Vancouver, British Columbia. Rather than operating mines directly, the company provides upfront financing to mining companies in exchange for the right to purchase a portion of the future production from specific mining projects at predetermined prices.

Wheaton's streaming portfolio is primarily focused on gold and silver, with additional exposure to palladium and cobalt through certain agreements.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.