Moors & Cabot Inc. Has $2.59 Million Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Key Points

• Moors & Cabot Inc. reduced its holdings in Wheaton Precious Metals by 26.2% during the first quarter and now owns 33,392 shares worth approximately $2.59 million.
• Wheaton Precious Metals reported earnings of $0.55 per share, exceeding analysts' expectations, and recorded revenue growth of 58.4% year-over-year.
• The company has declared a quarterly dividend of $0.165 per share, representing an annualized dividend yield of 0.7%.

Moors & Cabot Inc. cut its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 26.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,392 shares of the company's stock after selling 11,825 shares during the period. Moors & Cabot Inc.'s holdings in Wheaton Precious Metals were worth $2,592,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of WPM. Cerity Partners LLC boosted its holdings in shares of Wheaton Precious Metals by 5.5% in the 1st quarter. Cerity Partners LLC now owns 20,271 shares of the company's stock worth $1,574,000 after acquiring an additional 1,058 shares in the last quarter. Sei Investments Co. lifted its stake in Wheaton Precious Metals by 25.7% in the fourth quarter. Sei Investments Co. now owns 40,769 shares of the company's stock valued at $2,293,000 after buying an additional 8,331 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Wheaton Precious Metals by 37.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,109 shares of the company's stock valued at $630,000 after purchasing an additional 2,208 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in Wheaton Precious Metals by 5.8% in the first quarter. Sequoia Financial Advisors LLC now owns 5,392 shares of the company's stock worth $419,000 after purchasing an additional 297 shares during the period. Finally, Dynamic Advisor Solutions LLC bought a new position in shares of Wheaton Precious Metals during the first quarter worth $531,000. Institutional investors own 70.34% of the company's stock.

Wall Street Analysts Forecast Growth

WPM has been the topic of several research analyst reports. Wall Street Zen raised Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. CIBC reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, July 15th. Berenberg Bank raised their target price on shares of Wheaton Precious Metals from $87.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Scotiabank increased their price objective on shares of 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. Finally, BMO Capital Markets initiated coverage on shares of Wheaton Precious Metals in a research report on Wednesday, April 16th. They issued an "outperform" rating and a $129.00 price objective on the stock. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $93.00.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock traded up $3.75 during mid-day trading on Monday, hitting $95.85. 1,545,851 shares of the company's stock traded hands, compared to its average volume of 1,751,247. The firm has a 50 day simple moving average of $90.31 and a two-hundred day simple moving average of $79.53. Wheaton Precious Metals Corp. has a fifty-two week low of $53.05 and a fifty-two week high of $96.83. The stock has a market cap of $43.51 billion, a price-to-earnings ratio of 70.48, a P/E/G ratio of 2.58 and a beta of 0.39.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.05. Wheaton Precious Metals had a net margin of 42.45% and a return on equity of 10.32%. The business had revenue of $470.41 million for the quarter, compared to analyst estimates of $446.33 million. During the same quarter in the prior year, the business earned $0.36 EPS. Wheaton Precious Metals's quarterly revenue was up 58.4% on a year-over-year basis. On average, research analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 28th. Wheaton Precious Metals's payout ratio is presently 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.