CenterBook Partners LP Decreases Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Key Points

• CenterBook Partners LP has cut its stake in Wheaton Precious Metals by 55.2%, now owning 7,807 shares valued at approximately $606,000.
• Other institutional investors have also increased their positions, with Principal Financial Group Inc. raising its stake by 34.6% during the same quarter.
• Wheaton Precious Metals reported a 68.2% year-over-year revenue increase of $503.22 million, surpassing analysts' expectations.

CenterBook Partners LP lessened its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 55.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,807 shares of the company's stock after selling 9,604 shares during the quarter. CenterBook Partners LP's holdings in Wheaton Precious Metals were worth $606,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cerity Partners LLC lifted its position in shares of Wheaton Precious Metals by 5.5% in the first quarter. Cerity Partners LLC now owns 20,271 shares of the company's stock valued at $1,574,000 after acquiring an additional 1,058 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Wheaton Precious Metals by 37.4% in the first 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 during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Wheaton Precious Metals by 5.8% in the first 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 during the last quarter. Dynamic Advisor Solutions LLC acquired a new stake in shares of Wheaton Precious Metals in the first quarter valued at approximately $531,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Wheaton Precious Metals by 34.6% in the first 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 during the last quarter. Hedge funds and other institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Trading Up 1.3%

Shares of NYSE WPM opened at $99.85 on Friday. Wheaton Precious Metals Corp. has a twelve month low of $53.60 and a twelve month high of $100.53. The stock has a fifty day simple moving average of $91.26 and a 200-day simple moving average of $80.35. The stock has a market capitalization of $45.33 billion, a PE ratio of 73.42, a PEG ratio of 2.75 and a beta of 0.39.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.05. Wheaton Precious Metals had a return on equity of 10.32% and a net margin of 42.45%. The business had revenue of $503.22 million during the quarter, compared to analysts' expectations of $424.23 million. During the same period in the previous year, the firm posted $0.33 earnings per share. The company's revenue was up 68.2% on a year-over-year basis. On average, equities analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Scotiabank increased 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. Berenberg Bank increased their price target on Wheaton Precious Metals from $87.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. CIBC reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, July 15th. Royal Bank Of Canada increased 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. Finally, BMO Capital Markets began coverage on Wheaton Precious Metals in a research note on Wednesday, April 16th. They set an "outperform" rating and a $129.00 target price for the company. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $93.00.

Wheaton Precious Metals 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.

Want to see what other hedge funds are holding WPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wheaton Precious Metals Corp. (NYSE:WPM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.