Stack Financial Management Inc Sells 5,754 Shares of Wheaton Precious Metals Corp. $WPM

Key Points

• Stack Financial Management Inc reduced its stake in Wheaton Precious Metals Corp by 1.6%, selling 5,754 shares, leaving it with 352,725 shares valued at approximately $31.7 million.
• Wheaton Precious Metals reported a notable increase in quarterly revenue, hitting $503.22 million, and earnings per share of $0.63, exceeding expectations.
• The company has declared a quarterly dividend of $0.165, translating to an annualized yield of 0.6% and a payout ratio of 38.15%.

Stack Financial Management Inc cut its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 352,725 shares of the company's stock after selling 5,754 shares during the quarter. Wheaton Precious Metals accounts for approximately 2.8% of Stack Financial Management Inc's holdings, making the stock its 9th biggest position. Stack Financial Management Inc owned approximately 0.08% of Wheaton Precious Metals worth $31,675,000 at the end of the most recent reporting period.

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

Wheaton Precious Metals Stock Performance

Wheaton Precious Metals stock opened at $105.44 on Monday. Wheaton Precious Metals Corp. has a fifty-two week low of $55.47 and a fifty-two week high of $114.00. The firm has a market capitalization of $47.87 billion, a price-to-earnings ratio of 60.95, a price-to-earnings-growth ratio of 2.81 and a beta of 0.41. The stock's fifty day moving average is $102.44 and its two-hundred day moving average is $91.55.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. The business had revenue of $503.22 million during the quarter, compared to the consensus estimate of $424.23 million. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The business's revenue was up 68.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 EPS. As a group, sell-side analysts forecast that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were given a $0.165 dividend. The ex-dividend date was Thursday, August 21st. This represents a $0.66 annualized dividend and a dividend yield of 0.6%. Wheaton Precious Metals's dividend payout ratio is currently 38.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on WPM shares. Weiss Ratings reissued a "buy (b-)" rating on shares of Wheaton Precious Metals in a research note on Wednesday, October 8th. Scotiabank increased their price objective 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. BMO Capital Markets restated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. Berenberg Bank upped their price target on shares of Wheaton Precious Metals from $102.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Finally, UBS Group raised their price objective on shares of Wheaton Precious Metals from $106.00 to $118.00 and gave the company a "neutral" rating in a research note on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $114.50.

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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