Sowell Financial Services LLC Has $387,000 Stock Holdings in Wheaton Precious Metals Corp. $WPM

Key Points

• Sowell Financial Services LLC reduced its holdings in Wheaton Precious Metals Corp. by 56.5%, now owning 4,309 shares valued at $387,000.
• Several institutional investors, including Vanguard Group and TD Asset Management, increased their stakes in Wheaton Precious Metals, contributing to 70.34% institutional ownership.
• Wheaton Precious Metals reported a 68.2% increase in quarterly revenue year-over-year, with earnings of $0.63 per share, exceeding analysts' expectations.

Sowell Financial Services LLC trimmed its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 56.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,309 shares of the company's stock after selling 5,602 shares during the quarter. Sowell Financial Services LLC's holdings in Wheaton Precious Metals were worth $387,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of WPM. Vanguard Group Inc. boosted its holdings in Wheaton Precious Metals by 1.8% during the first quarter. Vanguard Group Inc. now owns 17,996,858 shares of the company's stock valued at $1,396,556,000 after acquiring an additional 324,340 shares during the period. TD Asset Management Inc lifted its position in shares of Wheaton Precious Metals by 5.0% during the 1st quarter. TD Asset Management Inc now owns 7,512,351 shares of the company's stock worth $582,876,000 after purchasing an additional 355,533 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Wheaton Precious Metals by 10.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,072,786 shares of the company's stock worth $393,800,000 after purchasing an additional 470,651 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Wheaton Precious Metals by 5.0% during the 1st quarter. JPMorgan Chase & Co. now owns 3,060,056 shares of the company's stock valued at $237,552,000 after purchasing an additional 144,782 shares during the period. Finally, Amundi increased its position in Wheaton Precious Metals by 33.2% in the 1st quarter. Amundi now owns 2,745,947 shares of the company's stock worth $215,557,000 after buying an additional 683,674 shares during the period. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada raised their price objective on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. UBS Group increased their price target on shares of Wheaton Precious Metals from $106.00 to $118.00 and gave the company a "neutral" rating in a report on Friday, September 19th. Raymond James Financial boosted their price objective on shares of Wheaton Precious Metals from $112.00 to $114.00 and gave the stock an "outperform" rating in a report on Friday, September 12th. National Bankshares reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, June 24th. Finally, Scotiabank lifted their target price on Wheaton Precious Metals from $108.00 to $109.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $106.11.

Wheaton Precious Metals Stock Up 2.1%

Shares of WPM opened at $107.49 on Friday. The company has a 50-day moving average price of $98.86 and a two-hundred day moving average price of $88.73. The stock has a market cap of $48.79 billion, a price-to-earnings ratio of 62.13, a P/E/G ratio of 2.84 and a beta of 0.42. Wheaton Precious Metals Corp. has a 12 month low of $55.47 and a 12 month high of $109.67.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. The business had revenue of $503.22 million during the quarter, compared to analysts' expectations of $424.23 million. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.Wheaton Precious Metals's quarterly revenue was up 68.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 EPS. Equities 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 announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Thursday, August 21st. Wheaton Precious Metals's payout ratio is currently 38.15%.

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.

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