Cambridge Investment Research Advisors Inc. Trims Stake in Wheaton Precious Metals Corp. (NYSE:WPM)

Cambridge Investment Research Advisors Inc. reduced its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 14.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,388 shares of the company's stock after selling 9,962 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Wheaton Precious Metals were worth $4,455,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Wheaton Precious Metals in the fourth quarter worth about $20,790,000. Sei Investments Co. boosted its holdings in Wheaton Precious Metals by 25.7% in the fourth quarter. Sei Investments Co. now owns 40,769 shares of the company's stock worth $2,293,000 after purchasing an additional 8,331 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of 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 last quarter. Dynamic Advisor Solutions LLC purchased a new position in shares of Wheaton Precious Metals during the 1st quarter worth $531,000. Finally, Gotham Asset Management LLC lifted its stake in shares of Wheaton Precious Metals by 83.8% during the 4th quarter. Gotham Asset Management LLC now owns 6,324 shares of the company's stock valued at $356,000 after buying an additional 2,884 shares in the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

WPM opened at $87.30 on Friday. Wheaton Precious Metals Corp. has a fifty-two week low of $51.96 and a fifty-two week high of $95.23. The company has a fifty day moving average of $85.86 and a two-hundred day moving average of $73.56. The stock has a market capitalization of $39.63 billion, a price-to-earnings ratio of 64.19, a PEG ratio of 2.66 and a beta of 0.46.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.55 earnings per share (EPS) 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 business had revenue of $470.41 million for the quarter, compared to analyst estimates of $446.33 million. During the same quarter last year, the business earned $0.36 earnings per share. The company's revenue for the quarter was up 58.4% compared to the same quarter last year. On average, equities research analysts forecast 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 declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors 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 yield of 0.76%. Wheaton Precious Metals's payout ratio is presently 48.53%.

Analysts Set New Price Targets

Several analysts have commented on WPM shares. CIBC boosted their price target on shares of Wheaton Precious Metals from $95.00 to $105.00 and gave the stock an "outperformer" rating in a research note on Friday, May 9th. UBS Group upped their price target on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Raymond James Financial increased their target price 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. Royal Bank Of Canada lifted their price objective on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. 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 investment analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $92.75.

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.

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