LPL Financial LLC Cuts Stake in Wheaton Precious Metals Corp. (NYSE:WPM)

LPL Financial LLC lessened its stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 1.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 197,975 shares of the company's stock after selling 3,696 shares during the quarter. LPL Financial LLC's holdings in Wheaton Precious Metals were worth $15,369,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Royal Bank of Canada raised its holdings in shares of Wheaton Precious Metals by 5.0% in the fourth quarter. Royal Bank of Canada now owns 9,424,930 shares of the company's stock valued at $530,057,000 after purchasing an additional 447,702 shares during the last quarter. TD Asset Management Inc raised its position in shares of Wheaton Precious Metals by 5.0% in the first quarter. TD Asset Management Inc now owns 7,512,351 shares of the company's stock valued at $582,876,000 after purchasing an additional 355,533 shares during the period. Capital International Investors bought a new position in Wheaton Precious Metals in the 4th quarter valued at about $263,810,000. The Manufacturers Life Insurance Company increased its stake in shares of Wheaton Precious Metals by 4.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,593,707 shares of the company's stock worth $202,459,000 after purchasing an additional 137,477 shares during the period. Finally, Mackenzie Financial Corp increased its position in Wheaton Precious Metals by 54.4% during the 4th quarter. Mackenzie Financial Corp now owns 3,223,154 shares of the company's stock worth $181,227,000 after buying an additional 1,135,699 shares during the period. Institutional investors own 70.34% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. UBS Group lifted their price target on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Royal Bank Of Canada lifted their price target on 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. Scotiabank upped their price objective on Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a "sector outperform" rating in a research report on Monday, April 14th. Berenberg Bank lifted their target price on Wheaton Precious Metals from $87.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Finally, National Bankshares reissued an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, June 24th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Wheaton Precious Metals presently has a consensus rating of "Buy" and an average price target of $93.00.

Wheaton Precious Metals Stock Up 0.9%

WPM traded up $0.85 during trading on Friday, hitting $100.64. 3,100,591 shares of the company's stock were exchanged, compared to its average volume of 1,847,772. The stock has a market cap of $45.69 billion, a P/E ratio of 74.00, a PEG ratio of 2.75 and a beta of 0.39. The business's 50 day moving average is $91.26 and its two-hundred day moving average is $80.35. Wheaton Precious Metals Corp. has a fifty-two week low of $54.12 and a fifty-two week high of $103.81.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. Wheaton Precious Metals had a return on equity of 10.32% and a net margin of 42.45%. The firm had revenue of $503.22 million during the quarter, compared to the consensus estimate of $424.23 million. During the same period in the prior year, the business posted $0.33 earnings per share. The company's quarterly revenue was up 68.2% compared to the same quarter last year. On average, sell-side analysts forecast that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

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 $0.165 dividend. The ex-dividend date is Thursday, August 21st. This represents a $0.66 annualized dividend and a yield of 0.7%. Wheaton Precious Metals's dividend payout ratio (DPR) is 48.53%.

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.