Summit Financial LLC Sells 44,491 Shares of Wheaton Precious Metals Corp. $WPM

Key Points

• Summit Financial LLC has reduced its stake in Wheaton Precious Metals Corp. by 12.0%, selling 44,491 shares during the 1st quarter, leaving it with a total of 327,083 shares.
• Wheaton Precious Metals reported $0.63 earnings per share for the latest quarter, surpassing expectations and reflecting a revenue increase of 68.2% year-over-year.
• The company declared a $0.165 quarterly dividend, with a payout ratio of 38.15% and an annualized yield of 0.7%.

Summit Financial LLC reduced its stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 12.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 327,083 shares of the company's stock after selling 44,491 shares during the quarter. Wheaton Precious Metals comprises 0.7% of Summit Financial LLC's holdings, making the stock its 26th largest position. Summit Financial LLC owned 0.07% of Wheaton Precious Metals worth $25,391,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of WPM. NBT Bank N A NY raised its holdings in Wheaton Precious Metals by 129.3% in the 1st quarter. NBT Bank N A NY now owns 415 shares of the company's stock valued at $32,000 after acquiring an additional 234 shares during the period. Banque Cantonale Vaudoise bought a new position in shares of Wheaton Precious Metals during the first quarter worth approximately $49,000. Princeton Global Asset Management LLC bought a new position in shares of Wheaton Precious Metals during the first quarter worth approximately $52,000. Penserra Capital Management LLC increased its holdings in shares of Wheaton Precious Metals by 1,812.8% during the first quarter. Penserra Capital Management LLC now owns 746 shares of the company's stock worth $57,000 after purchasing an additional 707 shares during the period. Finally, Whittier Trust Co. increased its holdings in shares of Wheaton Precious Metals by 77.4% during the first quarter. Whittier Trust Co. now owns 763 shares of the company's stock worth $59,000 after purchasing an additional 333 shares during the period. 70.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on WPM shares. Royal Bank Of Canada raised their target price on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. National Bankshares reiterated an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, June 24th. Wall Street Zen lowered shares of Wheaton Precious Metals from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Berenberg Bank lifted their price target on shares of Wheaton Precious Metals from $87.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Wheaton Precious Metals in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $97.33.

Wheaton Precious Metals Trading Up 2.5%

WPM opened at $93.2970 on Thursday. Wheaton Precious Metals Corp. has a 1-year low of $55.47 and a 1-year high of $103.81. The company has a market cap of $42.35 billion, a P/E ratio of 53.93, a price-to-earnings-growth ratio of 2.53 and a beta of 0.39. The company has a fifty day moving average price of $92.18 and a two-hundred day moving average price of $82.50.

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

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 21st. Wheaton Precious Metals's payout ratio is 38.15%.

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.

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