Hsbc Holdings PLC Has $52.98 Million Position in Wheaton Precious Metals Corp. $WPM

Key Points

• Hsbc Holdings PLC reduced its position in Wheaton Precious Metals by 17.4% in Q1, now holding 683,150 shares valued at $52.98 million.
• Wheaton Precious Metals reported earnings of $0.63 per share, exceeding analyst estimates, with revenue up 68.2% from the previous year at $503.22 million.
• The company announced a quarterly dividend of $0.165 per share, reflecting an annualized yield of 0.7%, with a payout ratio of 38.15%.

Hsbc Holdings PLC cut its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 17.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 683,150 shares of the company's stock after selling 143,490 shares during the quarter. Hsbc Holdings PLC owned 0.15% of Wheaton Precious Metals worth $52,975,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in WPM. NBT Bank N A NY raised its position in shares of Wheaton Precious Metals by 129.3% in the 1st quarter. NBT Bank N A NY now owns 415 shares of the company's stock valued at $32,000 after buying an additional 234 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Wheaton Precious Metals in the first quarter worth about $49,000. Princeton Global Asset Management LLC bought a new position in shares of Wheaton Precious Metals in the first quarter worth about $52,000. Penserra Capital Management LLC lifted its holdings in shares of Wheaton Precious Metals by 1,812.8% in the first quarter. Penserra Capital Management LLC now owns 746 shares of the company's stock worth $57,000 after acquiring an additional 707 shares during the last quarter. Finally, Whittier Trust Co. lifted its holdings in shares of Wheaton Precious Metals by 77.4% in the first quarter. Whittier Trust Co. now owns 763 shares of the company's stock worth $59,000 after acquiring an additional 333 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WPM has been the subject of a number of research reports. National Bankshares reissued an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, June 24th. UBS Group set a $106.00 target price on shares of Wheaton Precious Metals and gave the stock a "neutral" rating in a report on Monday, August 11th. CIBC reissued an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, July 15th. BMO Capital Markets reissued an "outperform" rating on shares of Wheaton Precious Metals in a report on Friday, August 8th. Finally, Royal Bank Of Canada increased their target price on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $97.33.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock opened at $94.27 on Friday. The business has a 50 day moving average of $92.26 and a 200-day moving average of $82.72. Wheaton Precious Metals Corp. has a 1 year low of $55.47 and a 1 year high of $103.81. The company has a market capitalization of $42.79 billion, a P/E ratio of 54.49, a P/E/G ratio of 2.59 and a beta of 0.39.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings data 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 return on equity of 11.96% and a net margin of 47.46%.The company had revenue of $503.22 million during the quarter, compared to the consensus estimate of $424.23 million. During the same quarter in the prior year, the firm posted $0.33 earnings per share. The firm's revenue was up 68.2% compared to the same quarter last year. Equities analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 21st. Wheaton Precious Metals's dividend payout ratio 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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