Wheaton Precious Metals Corp. (NYSE:WPM) Shares Sold by Formidable Asset Management LLC

Formidable Asset Management LLC cut its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 34.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,382 shares of the company's stock after selling 3,912 shares during the quarter. Formidable Asset Management LLC's holdings in Wheaton Precious Metals were worth $573,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Asahi Life Asset Management CO. LTD. grew its stake in Wheaton Precious Metals by 2.8% during the 1st quarter. Asahi Life Asset Management CO. LTD. now owns 5,070 shares of the company's stock worth $393,000 after purchasing an additional 140 shares in the last quarter. Continuum Advisory LLC grew its stake in Wheaton Precious Metals by 9.0% during the 1st quarter. Continuum Advisory LLC now owns 1,823 shares of the company's stock worth $142,000 after purchasing an additional 151 shares in the last quarter. Allworth Financial LP grew its stake in Wheaton Precious Metals by 2.9% during the 1st quarter. Allworth Financial LP now owns 5,715 shares of the company's stock worth $470,000 after purchasing an additional 161 shares in the last quarter. PFG Investments LLC grew its stake in Wheaton Precious Metals by 0.8% during the 1st quarter. PFG Investments LLC now owns 22,515 shares of the company's stock worth $1,748,000 after purchasing an additional 172 shares in the last quarter. Finally, PDS Planning Inc boosted its position in shares of Wheaton Precious Metals by 5.0% during the 1st quarter. PDS Planning Inc now owns 4,497 shares of the company's stock worth $349,000 after acquiring an additional 213 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Performance

Shares of NYSE:WPM opened at $88.30 on Friday. The business's fifty day moving average price is $87.93 and its two-hundred day moving average price is $76.90. The stock has a market cap of $40.08 billion, a PE ratio of 64.93, a price-to-earnings-growth ratio of 2.53 and a beta of 0.46. Wheaton Precious Metals Corp. has a one year low of $53.05 and a one year high of $95.23.

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

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Wednesday, May 28th. Wheaton Precious Metals's dividend payout ratio (DPR) is presently 48.53%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Berenberg Bank upped their price objective on Wheaton Precious Metals from $87.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. CIBC reissued an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday. National Bankshares reissued an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, June 24th. Royal Bank Of Canada boosted their target price on Wheaton Precious Metals from $80.00 to $90.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Finally, Raymond James Financial boosted their target price on Wheaton Precious Metals from $88.00 to $90.00 and gave the company an "outperform" rating in a report on Tuesday, April 15th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $93.00.

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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