D.A. Davidson & CO. Reduces Position in Wheaton Precious Metals Corp. (NYSE:WPM)

D.A. Davidson & CO. cut its stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 17.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,139 shares of the company's stock after selling 2,886 shares during the period. D.A. Davidson & CO.'s holdings in Wheaton Precious Metals were worth $1,098,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WPM. Norges Bank purchased a new stake in Wheaton Precious Metals in the fourth quarter valued at $472,648,000. Capital International Investors purchased a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at about $263,810,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at about $72,657,000. Mackenzie Financial Corp raised its holdings in shares of Wheaton Precious Metals by 54.4% in the fourth quarter. Mackenzie Financial Corp now owns 3,223,154 shares of the company's stock valued at $181,227,000 after buying an additional 1,135,699 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Wheaton Precious Metals by 1,321.7% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,221,522 shares of the company's stock valued at $68,720,000 after buying an additional 1,135,603 shares during the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

NYSE:WPM traded up $0.27 during trading hours on Thursday, hitting $89.11. The company's stock had a trading volume of 297,065 shares, compared to its average volume of 1,713,180. Wheaton Precious Metals Corp. has a 52-week low of $53.05 and a 52-week high of $95.23. The business's 50-day moving average is $87.01 and its two-hundred day moving average is $75.16. The company has a market capitalization of $40.45 billion, a PE ratio of 65.38, a PEG ratio of 2.62 and a beta of 0.46.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $446.33 million. During the same period in the prior year, the company posted $0.36 EPS. The business's revenue for the quarter was up 58.4% on a year-over-year basis. As a group, analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders 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 annualized dividend and a yield of 0.74%. Wheaton Precious Metals's payout ratio is currently 48.53%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on WPM shares. National Bankshares reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, June 24th. Raymond James Financial upped their target price on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the company an "outperform" rating in a report on Tuesday, April 15th. Berenberg Bank upped their target price on shares of Wheaton Precious Metals from $87.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Royal Bank Of Canada upped their target price on shares of 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, UBS Group upped their target price on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the company a "buy" rating in a report on Friday, April 11th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Wheaton Precious Metals has an average rating of "Buy" and a consensus target price of $93.00.

About Wheaton Precious Metals

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.