Wheaton Precious Metals Corp. $WPM Shares Sold by Te Ahumairangi Investment Management Ltd

Key Points

• Te Ahumairangi Investment Management Ltd has reduced its holdings in Wheaton Precious Metals Corp. by 16.1%, owning 47,039 shares valued at $3,650,000 after selling 9,000 shares in Q1.
• Several institutional investors increased their positions in Wheaton, including Mackenzie Financial Corp, which boosted its holdings by 54.4% in the last quarter.
• Wheaton Precious Metals announced a quarterly dividend of $0.165, with a payout ratio of 38.15%, scheduled for payment on September 4th.

Te Ahumairangi Investment Management Ltd reduced its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 16.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,039 shares of the company's stock after selling 9,000 shares during the period. Te Ahumairangi Investment Management Ltd's holdings in Wheaton Precious Metals were worth $3,650,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. NBT Bank N A NY raised its holdings in Wheaton Precious Metals by 129.3% during the first quarter. NBT Bank N A NY now owns 415 shares of the company's stock worth $32,000 after purchasing an additional 234 shares in the last quarter. Wealth Preservation Advisors LLC purchased a new position in Wheaton Precious Metals during the first quarter worth about $38,000. Banque Cantonale Vaudoise acquired a new position in Wheaton Precious Metals during the first quarter worth about $49,000. Princeton Global Asset Management LLC acquired a new position in Wheaton Precious Metals during the first quarter worth about $52,000. Finally, Penserra Capital Management LLC grew its position in 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 buying an additional 707 shares during the period. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on WPM shares. 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 target price on shares of Wheaton Precious Metals from $87.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Wall Street Zen lowered shares of Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research report on Sunday. Royal Bank Of Canada upped 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 research report on Wednesday, June 4th. Finally, UBS Group set a $106.00 target price on shares of Wheaton Precious Metals and gave the stock a "neutral" rating in a research report on Monday, August 11th. 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 company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $97.33.

Wheaton Precious Metals Trading Up 3.3%

Shares of WPM stock traded up $3.20 during trading hours on Friday, hitting $100.43. The company's stock had a trading volume of 2,018,814 shares, compared to its average volume of 1,901,380. The business has a fifty day moving average of $92.98 and a 200-day moving average of $84.20. The stock has a market cap of $45.59 billion, a price-to-earnings ratio of 58.05, a P/E/G ratio of 2.77 and a beta of 0.42. Wheaton Precious Metals Corp. has a twelve month low of $55.47 and a twelve month high of $103.81.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. The business had revenue of $503.22 million for the quarter, compared to analyst estimates of $424.23 million. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The company's quarterly revenue was up 68.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.33 earnings per share. On average, equities 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 announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be given a dividend of $0.165 per share. The ex-dividend date is Thursday, August 21st. This represents a $0.66 dividend on an annualized basis and a yield of 0.7%. Wheaton Precious Metals's dividend payout ratio (DPR) is 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.