Douglas Lane & Associates LLC Sells 23,454 Shares of Wheaton Precious Metals Corp. $WPM

Key Points

• Douglas Lane & Associates LLC reduced its stake in Wheaton Precious Metals Corp. by 4.6%, selling 23,454 shares, leaving them with approximately 491,100 shares valued at $44.1 million.
• Multiple analysts have raised their price targets for Wheaton Precious Metals, with Berenberg Bank increasing its target to $108.00 and Royal Bank of Canada to $90.00, indicating positive sentiment towards the stock.
• Wheaton Precious Metals recently reported a 68.2% increase in quarterly revenue year-over-year, achieving $503.22 million, alongside an earnings per share of $0.63, surpassing estimates by $0.05.

Douglas Lane & Associates LLC lessened its stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 4.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 491,100 shares of the company's stock after selling 23,454 shares during the period. Douglas Lane & Associates LLC owned approximately 0.11% of Wheaton Precious Metals worth $44,101,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. NBT Bank N A NY grew its position in shares of Wheaton Precious Metals by 129.3% during the 1st quarter. NBT Bank N A NY now owns 415 shares of the company's stock valued at $32,000 after acquiring an additional 234 shares during the period. Wealth Preservation Advisors LLC bought a new stake in shares of Wheaton Precious Metals during the 1st quarter valued at $38,000. Banque Cantonale Vaudoise bought a new stake in shares of Wheaton Precious Metals during the 1st quarter valued at $49,000. Princeton Global Asset Management LLC bought a new stake in shares of Wheaton Precious Metals during the 1st quarter valued at $52,000. Finally, Penserra Capital Management LLC grew its position in shares of Wheaton Precious Metals by 1,812.8% during the 1st quarter. Penserra Capital Management LLC now owns 746 shares of the company's stock valued at $57,000 after acquiring an additional 707 shares during the period. Institutional investors own 70.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on WPM shares. Berenberg Bank boosted their price objective on shares of Wheaton Precious Metals from $102.00 to $108.00 and gave the company a "buy" rating in a research report on Friday. Royal Bank Of Canada boosted their price objective on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Raymond James Financial boosted their price objective on shares of Wheaton Precious Metals from $112.00 to $114.00 and gave the company an "outperform" rating in a research report on Friday. Wall Street Zen raised shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating in a report on Monday, September 8th. Finally, CIBC reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $101.44.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock opened at $106.79 on Friday. The company has a market capitalization of $48.48 billion, a P/E ratio of 61.73, a P/E/G ratio of 2.95 and a beta of 0.42. The company has a fifty day moving average of $95.90 and a 200 day moving average of $86.55. Wheaton Precious Metals Corp. has a fifty-two week low of $55.47 and a fifty-two week high of $108.67.

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

Wheaton Precious Metals Dividend Announcement

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

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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