Formidable Asset Management LLC Reduces Stock Holdings in Wheaton Precious Metals Corp. $WPM

Key Points

• Formidable Asset Management LLC reduced its position in Wheaton Precious Metals Corp by 32.5%, now holding 4,984 shares valued at $448,000.
• Several institutional investors have increased their stakes, with Mather Group LLC notably raising its stake by 11,775.0% during the same quarter.
• Wheaton Precious Metals recently announced a quarterly dividend of $0.165 per share, yielding 0.6% with a payout ratio of 38.15%.

Formidable Asset Management LLC trimmed its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 32.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,984 shares of the company's stock after selling 2,398 shares during the period. Formidable Asset Management LLC's holdings in Wheaton Precious Metals were worth $448,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. American National Bank & Trust bought a new position in shares of Wheaton Precious Metals in the second quarter worth about $81,000. Plancorp LLC raised its stake in shares of Wheaton Precious Metals by 6.1% in the second quarter. Plancorp LLC now owns 40,714 shares of the company's stock worth $3,656,000 after buying an additional 2,345 shares during the period. Mather Group LLC. raised its stake in shares of Wheaton Precious Metals by 11,775.0% in the second quarter. Mather Group LLC. now owns 2,375 shares of the company's stock worth $213,000 after buying an additional 2,355 shares during the period. Ballentine Partners LLC raised its stake in shares of Wheaton Precious Metals by 19.3% in the second quarter. Ballentine Partners LLC now owns 6,536 shares of the company's stock worth $587,000 after buying an additional 1,057 shares during the period. Finally, Compagnie Lombard Odier SCmA bought a new position in shares of Wheaton Precious Metals in the second quarter worth about $405,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WPM. National Bankshares reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. Berenberg Bank raised their price objective on Wheaton Precious Metals from $102.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Scotiabank raised their price objective on Wheaton Precious Metals from $108.00 to $109.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 12th. BMO Capital Markets reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. Finally, Wall Street Zen upgraded Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research report on Monday, September 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.11.

Wheaton Precious Metals Trading Up 1.5%

NYSE:WPM opened at $109.01 on Friday. Wheaton Precious Metals Corp. has a 12-month low of $55.47 and a 12-month high of $109.67. The stock has a 50-day moving average price of $99.28 and a 200 day moving average price of $88.99. The stock has a market capitalization of $49.49 billion, a P/E ratio of 63.01, a P/E/G ratio of 2.90 and a beta of 0.42.

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

Wheaton Precious Metals Announces Dividend

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

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.

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