Montrusco Bolton Investments Inc. Sells 172,923 Shares of Wheaton Precious Metals Corp. $WPM

Key Points

• Montrusco Bolton Investments Inc. reduced its stake in Wheaton Precious Metals Corp. by 60.5%, selling 172,923 shares, leaving them with 112,929 shares valued at approximately $10.1 million.
• Wheaton Precious Metals reported a quarterly earnings per share (EPS) of $0.63, exceeding estimates, with a revenue of $503.22 million, an increase of 68.2% year-over-year.
• The company recently declared a quarterly dividend of $0.165 per share, reflecting a dividend yield of 0.6% and a payout ratio of 38.15%.

Montrusco Bolton Investments Inc. trimmed its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 60.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,929 shares of the company's stock after selling 172,923 shares during the period. Montrusco Bolton Investments Inc.'s holdings in Wheaton Precious Metals were worth $10,135,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of WPM. Bulwark Capital Corp bought a new stake in shares of Wheaton Precious Metals during the second quarter worth approximately $27,000. NBT Bank N A NY raised its stake in shares of Wheaton Precious Metals by 129.3% during the first quarter. NBT Bank N A NY now owns 415 shares of the company's stock worth $32,000 after buying an additional 234 shares during the last quarter. Wealth Preservation Advisors LLC bought a new stake in shares of Wheaton Precious Metals during the first quarter worth approximately $38,000. Banque Cantonale Vaudoise bought a new stake in shares of Wheaton Precious Metals during the first quarter worth approximately $49,000. Finally, Penserra Capital Management LLC raised its stake in shares of Wheaton Precious Metals by 1,812.8% during the first quarter. Penserra Capital Management LLC now owns 746 shares of the company's stock worth $57,000 after buying an additional 707 shares during the last quarter. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Stock Up 2.0%

Shares of WPM stock opened at $105.44 on Monday. The firm has a fifty day moving average of $102.44 and a 200-day moving average of $91.55. Wheaton Precious Metals Corp. has a 12-month low of $55.47 and a 12-month high of $114.00. The company has a market capitalization of $47.87 billion, a price-to-earnings ratio of 60.95, a P/E/G ratio of 2.81 and a beta of 0.41.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings data 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. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. 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 earned $0.33 earnings per share. The firm's revenue was up 68.2% compared to the same quarter last year. On average, equities analysts expect that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. National Bankshares reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. CIBC upped their target price on shares of Wheaton Precious Metals from $135.00 to $160.00 and gave the company an "outperformer" rating in a research note on Friday. Scotiabank upped their target price on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 12th. UBS Group upped their target price on shares of Wheaton Precious Metals from $106.00 to $118.00 and gave the company a "neutral" rating in a research note on Friday, September 19th. Finally, Berenberg Bank upped their target price on shares of Wheaton Precious Metals from $102.00 to $108.00 and gave the company a "buy" rating in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $114.50.

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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