Formidable Asset Management LLC Reduces Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Formidable Asset Management LLC lowered its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 34.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,382 shares of the company's stock after selling 3,912 shares during the period. Formidable Asset Management LLC's holdings in Wheaton Precious Metals were worth $573,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of WPM. NBT Bank N A NY lifted its stake in shares of Wheaton Precious Metals by 129.3% in the 1st quarter. NBT Bank N A NY now owns 415 shares of the company's stock valued at $32,000 after acquiring an additional 234 shares during the last quarter. Headlands Technologies LLC raised its position in Wheaton Precious Metals by 494.9% during the 4th quarter. Headlands Technologies LLC now owns 696 shares of the company's stock valued at $39,000 after purchasing an additional 579 shares during the last quarter. Princeton Global Asset Management LLC bought a new position in Wheaton Precious Metals during the 1st quarter valued at approximately $52,000. Penserra Capital Management LLC raised its position in Wheaton Precious Metals by 1,812.8% during the 1st quarter. Penserra Capital Management LLC now owns 746 shares of the company's stock valued at $57,000 after purchasing an additional 707 shares during the last quarter. Finally, Whittier Trust Co. raised its position in Wheaton Precious Metals by 77.4% during the 1st quarter. Whittier Trust Co. now owns 763 shares of the company's stock valued at $59,000 after purchasing an additional 333 shares during the last quarter. Institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Trading Up 0.4%

WPM traded up $0.38 during trading on Wednesday, hitting $96.10. 681,342 shares of the company's stock traded hands, compared to its average volume of 1,842,767. The company's 50 day simple moving average is $88.52 and its two-hundred day simple moving average is $77.40. Wheaton Precious Metals Corp. has a 12-month low of $53.05 and a 12-month high of $96.83. The stock has a market capitalization of $43.63 billion, a price-to-earnings ratio of 70.71, a PEG ratio of 2.60 and a beta of 0.46.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly 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 firm 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 company's revenue was up 58.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 EPS. On average, equities analysts expect that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were issued 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 0.69%. Wheaton Precious Metals's dividend payout ratio is currently 48.53%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on WPM shares. National Bankshares reissued an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, June 24th. Wall Street Zen raised Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Raymond James Financial upped their price target on Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 15th. Scotiabank upped their price target on Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a "sector outperform" rating in a research note on Monday, April 14th. Finally, Royal Bank Of Canada upped their price target on 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. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Wheaton Precious Metals 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.