Wheaton Precious Metals Corp. (NYSE:WPM) Shares Sold by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp decreased its stake in Wheaton Precious Metals by 0.9%, owning 780,553 shares valued at $60.56 million after selling 7,198 shares in the first quarter.
• Analysts have a consensus rating of "Buy" for Wheaton Precious Metals, with price targets increasing to an average of $93.00 among various institutions.
• The company reported earnings of $0.55 per share for the last quarter, exceeding expectations, with a significant year-over-year revenue increase of 58.4% to $470.41 million.

Alberta Investment Management Corp cut its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 780,553 shares of the company's stock after selling 7,198 shares during the quarter. Alberta Investment Management Corp owned 0.17% of Wheaton Precious Metals worth $60,562,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of WPM. NBT Bank N A NY boosted its stake 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 valued at $32,000 after buying an additional 234 shares in the last quarter. Headlands Technologies LLC lifted its holdings in Wheaton Precious Metals by 494.9% in the 4th quarter. Headlands Technologies LLC now owns 696 shares of the company's stock valued at $39,000 after acquiring an additional 579 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Wheaton Precious Metals during the 1st quarter valued at about $49,000. Princeton Global Asset Management LLC acquired a new position in shares of Wheaton Precious Metals in the 1st quarter worth approximately $52,000. Finally, Penserra Capital Management LLC raised its holdings in shares of Wheaton Precious Metals by 1,812.8% in the 1st quarter. Penserra Capital Management LLC now owns 746 shares of the company's stock worth $57,000 after purchasing an additional 707 shares in the last quarter. Institutional investors own 70.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating in a report on Monday, May 12th. BMO Capital Markets started coverage on Wheaton Precious Metals in a research report on Wednesday, April 16th. They set an "outperform" rating and a $129.00 price objective for the company. Royal Bank Of Canada lifted their target price on Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Raymond James Financial boosted their target price on Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. Finally, Scotiabank increased their price target on Wheaton Precious Metals from $79.00 to $87.00 and gave the company a "sector outperform" rating in a research report on Monday, April 14th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $93.00.

Wheaton Precious Metals Trading Up 0.6%

NYSE:WPM opened at $91.52 on Friday. The business's fifty day moving average price is $90.20 and its 200 day moving average price is $78.99. The firm has a market capitalization of $41.55 billion, a price-to-earnings ratio of 67.30, a PEG ratio of 2.54 and a beta of 0.46. Wheaton Precious Metals Corp. has a 1-year low of $53.05 and a 1-year 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 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.05. The company had revenue of $470.41 million for the quarter, compared to analysts' expectations of $446.33 million. Wheaton Precious Metals had a return on equity of 10.32% and a net margin of 42.45%. The business's revenue for the quarter was up 58.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 EPS. Equities analysts forecast that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were given a $0.165 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $0.66 dividend on an annualized basis and a yield of 0.7%. Wheaton Precious Metals's dividend payout ratio is presently 48.53%.

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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