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

Parsons Capital Management Inc. RI cut its stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 6.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WPM. Promus Capital LLC acquired a new position in Wheaton Precious Metals in the 4th quarter valued at $32,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Wheaton Precious Metals in the 4th quarter valued at approximately $38,000. Quintet Private Bank Europe S.A. acquired a new position in shares of Wheaton Precious Metals in the 4th quarter valued at approximately $39,000. Headlands Technologies LLC raised its position in shares of Wheaton Precious Metals by 494.9% in the 4th quarter. Headlands Technologies LLC now owns 696 shares of the company's stock valued at $39,000 after buying an additional 579 shares in the last quarter. Finally, Flagship Wealth Advisors LLC acquired a new position in shares of Wheaton Precious Metals in the 4th quarter valued at approximately $41,000. 70.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Royal Bank of Canada boosted 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 report on Wednesday, June 4th. UBS Group boosted their price target on Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Wall Street Zen raised Wheaton Precious Metals from a "hold" rating to a "buy" rating in a report on Monday, May 12th. CIBC boosted their price target on Wheaton Precious Metals from $95.00 to $105.00 and gave the stock an "outperformer" rating in a report on Friday, May 9th. 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 issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $86.90.

Wheaton Precious Metals Trading Up 1.4%

WPM traded up $1.27 on Friday, reaching $91.68. The stock had a trading volume of 1,955,173 shares, compared to its average volume of 1,692,105. Wheaton Precious Metals Corp. has a fifty-two week low of $51.96 and a fifty-two week high of $95.23. The firm has a 50-day moving average of $83.83 and a 200-day moving average of $71.57. The company has a market capitalization of $41.61 billion, a price-to-earnings ratio of 68.42, a price-to-earnings-growth ratio of 1.91 and a beta of 0.46.

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

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were issued a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.66 dividend on an annualized basis and a yield of 0.72%. Wheaton Precious Metals's payout ratio is 48.53%.

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.