Russell Investments Group Ltd. Sells 121,589 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Key Points

• Russell Investments Group Ltd. has decreased its stake in Wheaton Precious Metals by 24.9%, selling 121,589 shares to own a total of 367,643 shares worth approximately $28.44 million.
• The company reported earnings of $0.63 per share for the last quarter, exceeding analysts' expectations of $0.58, with a significant year-over-year revenue increase of 68.2% to $503.22 million.
• Wheaton Precious Metals announced a quarterly dividend of $0.165 per share, reflecting an annual yield of 0.7%, with a payout ratio of 38.15%.

Russell Investments Group Ltd. reduced its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 24.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 367,643 shares of the company's stock after selling 121,589 shares during the period. Russell Investments Group Ltd. owned 0.08% of Wheaton Precious Metals worth $28,440,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Wheaton Precious Metals by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 17,996,858 shares of the company's stock worth $1,396,556,000 after acquiring an additional 324,340 shares in the last quarter. Royal Bank of Canada raised its position in shares of Wheaton Precious Metals by 5.0% in the 4th quarter. Royal Bank of Canada now owns 9,424,930 shares of the company's stock worth $530,057,000 after acquiring an additional 447,702 shares in the last quarter. TD Asset Management Inc increased its position in Wheaton Precious Metals by 5.0% in the 1st quarter. TD Asset Management Inc now owns 7,512,351 shares of the company's stock valued at $582,876,000 after buying an additional 355,533 shares in the last quarter. Capital International Investors bought a new stake in Wheaton Precious Metals in the 4th quarter valued at about $263,810,000. Finally, The Manufacturers Life Insurance Company increased its position in Wheaton Precious Metals by 4.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,593,707 shares of the company's stock valued at $202,459,000 after buying an additional 137,477 shares in the last quarter. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Price Performance

Shares of NYSE WPM opened at $94.28 on Friday. Wheaton Precious Metals Corp. has a twelve month low of $55.47 and a twelve month high of $103.81. The stock's 50 day moving average price is $91.95 and its 200-day moving average price is $81.87. The company has a market capitalization of $42.80 billion, a PE ratio of 54.50, a PEG ratio of 2.62 and a beta of 0.39.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%. The firm had revenue of $503.22 million for the quarter, compared to the consensus estimate of $424.23 million. During the same quarter in the previous year, the business earned $0.33 EPS. The company's revenue was up 68.2% 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors 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 is presently 38.15%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wall Street Zen lowered Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. 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 lifted their price target on Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector outperform" rating in a research note on Tuesday. National Bankshares reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. Finally, UBS Group set a $106.00 price target on Wheaton Precious Metals and gave the company a "neutral" rating in a research note on Monday, August 11th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Wheaton Precious Metals currently has a consensus rating of "Moderate Buy" and an average price target of $97.33.

Wheaton Precious Metals Company 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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