UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Reduces Holdings in Wheaton Precious Metals Corp. $WPM

Key Points

• UBS AM reduced its holdings in Wheaton Precious Metals Corp. by 12.9%, selling 111,188 shares, which brings their total ownership to approximately 749,874 shares valued at $58.2 million.
• Wheaton Precious Metals showed a strong performance with a quarterly revenue increase of 68.2% year-over-year and an earnings per share of $0.63, exceeding analysts' expectations.
• The company recently announced a quarterly dividend of $0.165 per share, reflecting a 0.6% dividend yield and a payout ratio of 38.15%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lowered its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 12.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 749,874 shares of the company's stock after selling 111,188 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.17% of Wheaton Precious Metals worth $58,213,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of WPM. NBT Bank N A NY boosted its position in Wheaton Precious Metals by 129.3% in the first quarter. NBT Bank N A NY now owns 415 shares of the company's stock valued at $32,000 after buying an additional 234 shares during the last quarter. Wealth Preservation Advisors LLC purchased a new stake in Wheaton Precious Metals in the first quarter valued at approximately $38,000. Banque Cantonale Vaudoise purchased a new stake in Wheaton Precious Metals in the first quarter valued at approximately $49,000. Princeton Global Asset Management LLC purchased a new stake in Wheaton Precious Metals in the first quarter valued at approximately $52,000. Finally, Penserra Capital Management LLC boosted its position in Wheaton Precious Metals by 1,812.8% in the first quarter. Penserra Capital Management LLC now owns 746 shares of the company's stock valued at $57,000 after buying an additional 707 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Price Performance

Shares of WPM stock opened at $106.79 on Monday. The company has a market cap of $48.48 billion, a price-to-earnings ratio of 61.73, a PEG ratio of 2.93 and a beta of 0.42. The stock has a 50 day simple moving average of $95.90 and a 200-day simple moving average of $86.68. Wheaton Precious Metals Corp. has a 1-year low of $55.47 and a 1-year high of $108.67.

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 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 quarterly revenue was up 68.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 EPS. Analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

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

Wall Street Analysts Forecast Growth

WPM has been the topic of a number of recent research reports. UBS Group set a $106.00 target price on Wheaton Precious Metals and gave the company a "neutral" rating in a research report on Monday, August 11th. CIBC reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, July 15th. Raymond James Financial boosted their price target on Wheaton Precious Metals from $112.00 to $114.00 and gave the company an "outperform" rating in a report on Friday. Berenberg Bank boosted their price target on Wheaton Precious Metals from $102.00 to $108.00 and gave the company a "buy" rating in a report on Friday. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Wheaton Precious Metals in a report 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 given a Hold rating to the company. Based on data from MarketBeat, Wheaton Precious Metals presently has an average rating of "Moderate Buy" and an average price target of $101.44.

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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