DekaBank Deutsche Girozentrale Trims Stock Position in Wheaton Precious Metals Corp. $WPM

Key Points

• DekaBank Deutsche Girozentrale has decreased its stake in Wheaton Precious Metals Corp. by 1.3% during the second quarter, now holding approximately 1,628,243 shares valued at $142.59 million.
• Analysts have expressed a generally positive outlook on Wheaton Precious Metals, with upgrades from institutions like CIBC and Bank of America, raising price targets to between $132.00 and $160.00.
• The company reported a significant revenue increase of 68.2% year-over-year, with earnings per share of $0.63, surpassing the consensus estimate by $0.05.

DekaBank Deutsche Girozentrale lessened its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 1.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,628,243 shares of the company's stock after selling 21,890 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.36% of Wheaton Precious Metals worth $142,590,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Stratos Wealth Partners LTD. increased its holdings in shares of Wheaton Precious Metals by 4.0% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 17,979 shares of the company's stock valued at $1,615,000 after acquiring an additional 696 shares during the period. Astoria Portfolio Advisors LLC. increased its holdings in shares of Wheaton Precious Metals by 12.3% in the 2nd quarter. Astoria Portfolio Advisors LLC. now owns 8,865 shares of the company's stock valued at $833,000 after acquiring an additional 974 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Wheaton Precious Metals by 44.9% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,813 shares of the company's stock valued at $702,000 after acquiring an additional 2,421 shares during the period. Yousif Capital Management LLC increased its stake in Wheaton Precious Metals by 8.3% in the 2nd quarter. Yousif Capital Management LLC now owns 6,220 shares of the company's stock valued at $559,000 after buying an additional 475 shares during the period. Finally, MGO One Seven LLC increased its stake in Wheaton Precious Metals by 9.1% in the 2nd quarter. MGO One Seven LLC now owns 19,073 shares of the company's stock valued at $1,713,000 after buying an additional 1,588 shares during the period. 70.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. UBS Group boosted their price objective on shares of Wheaton Precious Metals from $118.00 to $122.00 and gave the company a "neutral" rating in a research note on Thursday. Scotiabank boosted their price objective on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 12th. CIBC boosted their price objective on shares of Wheaton Precious Metals from $135.00 to $160.00 and gave the company an "outperformer" rating in a research note on Friday, October 10th. Bank of America upped their price target on shares of Wheaton Precious Metals from $127.00 to $132.00 and gave the stock a "buy" rating in a research note on Thursday, October 16th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Wheaton Precious Metals currently has an average rating of "Moderate Buy" and a consensus target price of $116.89.

Wheaton Precious Metals Trading Up 0.8%

NYSE:WPM opened at $105.41 on Tuesday. The firm has a 50-day moving average price of $103.66 and a two-hundred day moving average price of $92.90. Wheaton Precious Metals Corp. has a twelve month low of $55.47 and a twelve month high of $114.36. The company has a market capitalization of $47.85 billion, a P/E ratio of 60.93, a price-to-earnings-growth ratio of 1.91 and a beta of 0.41.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.05. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The company had revenue of $503.22 million for the quarter, compared to the consensus estimate of $424.23 million. During the same quarter in the prior year, the firm earned $0.33 earnings per share. The company's revenue for the quarter was up 68.2% compared to the same quarter last year. On average, equities research analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 21st. Wheaton Precious Metals's dividend payout ratio is 38.15%.

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.

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