Parsons Capital Management Inc. RI Has $4.03 Million Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Parsons Capital Management Inc. RI lessened its holdings in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,926 shares of the company's stock after selling 3,600 shares during the period. Parsons Capital Management Inc. RI's holdings in Wheaton Precious Metals were worth $4,031,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Choreo LLC lifted its position in shares of Wheaton Precious Metals by 4.8% in the fourth quarter. Choreo LLC now owns 10,814 shares of the company's stock worth $607,000 after purchasing an additional 494 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Wheaton Precious Metals during the fourth quarter valued at $62,000. Apollon Wealth Management LLC increased its position in Wheaton Precious Metals by 65.9% in the 4th quarter. Apollon Wealth Management LLC now owns 9,786 shares of the company's stock worth $550,000 after purchasing an additional 3,887 shares during the last quarter. Stephens Inc. AR raised its stake in shares of Wheaton Precious Metals by 4.0% during the 4th quarter. Stephens Inc. AR now owns 11,835 shares of the company's stock worth $666,000 after purchasing an additional 454 shares in the last quarter. Finally, Savant Capital LLC grew its stake in shares of Wheaton Precious Metals by 18.3% in the 4th quarter. Savant Capital LLC now owns 10,548 shares of the company's stock valued at $593,000 after buying an additional 1,628 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company's stock.

Wheaton Precious Metals Price Performance

WPM stock traded down $1.01 on Tuesday, reaching $88.12. 1,633,932 shares of the company were exchanged, compared to its average volume of 1,681,976. The firm has a market capitalization of $39.99 billion, a PE ratio of 65.76, a PEG ratio of 1.91 and a beta of 0.46. Wheaton Precious Metals Corp. has a 12 month low of $51.96 and a 12 month high of $95.23. The stock's fifty day moving average price is $82.46 and its 200 day moving average price is $70.92.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.05. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The company had revenue of $470.41 million for the quarter, compared to the consensus estimate of $446.33 million. During the same quarter in the previous year, the firm posted $0.36 EPS. The business's revenue was up 58.4% compared to the same quarter last year. As a group, research analysts expect that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be given a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.75%. Wheaton Precious Metals's dividend payout ratio is currently 48.53%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Royal Bank of Canada lifted their target price 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. UBS Group upped their price objective on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Scotiabank increased their target price 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. Wall Street Zen raised Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, National Bankshares reissued an "outperform" rating on shares of Wheaton Precious Metals in a report on Wednesday, April 23rd. One analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $86.90.

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.