Intellus Advisors LLC Lowers Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Key Points

• Intellus Advisors LLC reduced its stake in Wheaton Precious Metals Corp. by 2.8%, now holding 225,302 shares valued at approximately $17.49 million, making it the firm's 10th largest holding.
• Several other institutions, including TD Asset Management Inc., increased their positions, highlighting a trend of growing interest in Wheaton Precious Metals among hedge funds and institutional investors.
• Equities research analysts have issued a generally positive outlook on Wheaton Precious Metals, with a consensus "Buy" rating and an average target price of $93.00, reflecting confidence in its future performance.

Intellus Advisors LLC cut its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 2.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 225,302 shares of the company's stock after selling 6,483 shares during the quarter. Wheaton Precious Metals makes up 3.1% of Intellus Advisors LLC's investment portfolio, making the stock its 10th biggest holding. Intellus Advisors LLC's holdings in Wheaton Precious Metals were worth $17,490,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. NBT Bank N A NY boosted its holdings in shares of 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 during the last quarter. Headlands Technologies LLC increased its holdings in Wheaton Precious Metals by 494.9% in the fourth quarter. Headlands Technologies LLC now owns 696 shares of the company's stock valued at $39,000 after buying an additional 579 shares during the last quarter. Princeton Global Asset Management LLC acquired a new position in Wheaton Precious Metals in the first quarter valued at approximately $52,000. Penserra Capital Management LLC boosted its stake 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 acquiring an additional 707 shares during the period. Finally, Whittier Trust Co. boosted its position 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 buying an additional 333 shares during the period. 70.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on WPM shares. National Bankshares reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, June 24th. UBS Group increased their price target on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Royal Bank Of Canada upped 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. CIBC reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, July 15th. Finally, Scotiabank raised their price objective on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a "sector outperform" rating in a report on Monday, April 14th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $93.00.

Wheaton Precious Metals Price Performance

Shares of WPM traded down $0.92 during trading hours on Wednesday, hitting $92.46. The company's stock had a trading volume of 631,495 shares, compared to its average volume of 1,829,336. The business has a 50 day simple moving average of $89.74 and a two-hundred day simple moving average of $78.56. The company has a market cap of $41.97 billion, a price-to-earnings ratio of 67.97, a PEG ratio of 2.58 and a beta of 0.46. Wheaton Precious Metals Corp. has a 52-week low of $53.05 and a 52-week high of $96.83.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.50 by $0.05. Wheaton Precious Metals had a net margin of 42.45% and a return on equity of 10.32%. The company had revenue of $470.41 million for the quarter, compared to analyst estimates of $446.33 million. During the same quarter last year, the firm earned $0.36 EPS. The firm's quarterly revenue was up 58.4% compared to the same quarter last year. Research analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend was Wednesday, May 28th. Wheaton Precious Metals's dividend payout ratio (DPR) is 48.53%.

Wheaton Precious Metals Company 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.