Invesco Ltd. Sells 10,276 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Key Points

• Invesco Ltd. reduced its holdings in Wheaton Precious Metals Corp. by 1.2%, selling 10,276 shares, which leaves them with a total of 869,382 shares valued at approximately $67.49 million.
• The company's quarterly earnings exceeded expectations, with a reported EPS of $0.63 against a consensus estimate of $0.58, and revenue increased by 68.2% year-over-year.
• Several analysts have mixed ratings on Wheaton Precious Metals, with the average rating being a "Moderate Buy" and a consensus price target of $97.33.

Invesco Ltd. reduced its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 1.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 869,382 shares of the company's stock after selling 10,276 shares during the quarter. Invesco Ltd. owned 0.19% of Wheaton Precious Metals worth $67,490,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NBT Bank N A NY increased its holdings in shares of Wheaton Precious Metals by 129.3% in the first quarter. NBT Bank N A NY now owns 415 shares of the company's stock valued at $32,000 after purchasing an additional 234 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Wheaton Precious Metals in the first quarter valued at $49,000. Princeton Global Asset Management LLC acquired a new position in shares of Wheaton Precious Metals in the first quarter valued at $52,000. Penserra Capital Management LLC increased 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 valued at $57,000 after purchasing an additional 707 shares during the last quarter. Finally, Whittier Trust Co. increased 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 valued at $59,000 after purchasing an additional 333 shares during the last quarter. 70.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wall Street Zen downgraded shares of Wheaton Precious Metals from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. BMO Capital Markets restated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Friday, August 8th. Scotiabank upped their price target on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector outperform" rating in a research note on Tuesday, August 12th. UBS Group set a $106.00 price target on shares of Wheaton Precious Metals and gave the company a "neutral" rating in a research note on Monday, August 11th. Finally, Royal Bank Of Canada upped their price target on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of "Moderate Buy" and a consensus price target of $97.33.

Wheaton Precious Metals Price Performance

Shares of Wheaton Precious Metals stock opened at $94.28 on Friday. The company has a market capitalization of $42.80 billion, a price-to-earnings ratio of 54.50, a PEG ratio of 2.62 and a beta of 0.39. Wheaton Precious Metals Corp. has a 12-month low of $55.47 and a 12-month high of $103.81. The firm's 50-day moving average price is $91.95 and its two-hundred day moving average price is $82.02.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. The firm had revenue of $503.22 million for 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%. The business's revenue for the quarter was up 68.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 earnings per share. On average, sell-side analysts expect that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be paid 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 is Thursday, August 21st. Wheaton Precious Metals's dividend payout ratio is presently 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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