Wheaton Precious Metals Corp. (NYSE:WPM) Shares Sold by Wedbush Securities Inc.

Key Points

• Wedbush Securities Inc. has reduced its stake in Wheaton Precious Metals by 29.4%, selling a total of 2,865 shares, leaving it with 6,865 shares valued at approximately $533,000.
• The company's quarterly earnings report exceeded estimates, with earnings per share of $0.55 compared to the expected $0.50, and a 58.4% year-over-year revenue growth.
• Wheaton Precious Metals has announced a quarterly dividend of $0.165, translating to an annualized dividend of $0.66 with a yield of 0.70%.

Wedbush Securities Inc. trimmed its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 29.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,865 shares of the company's stock after selling 2,865 shares during the period. Wedbush Securities Inc.'s holdings in Wheaton Precious Metals were worth $533,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Choreo LLC raised its position in shares of Wheaton Precious Metals by 2.2% during the 1st quarter. Choreo LLC now owns 11,057 shares of the company's stock worth $858,000 after buying an additional 243 shares in the last quarter. Financial Sense Advisors Inc. raised its position in shares of Wheaton Precious Metals by 12.0% during the 1st quarter. Financial Sense Advisors Inc. now owns 70,241 shares of the company's stock worth $5,453,000 after buying an additional 7,510 shares in the last quarter. J.W. Cole Advisors Inc. raised its position in shares of Wheaton Precious Metals by 63.3% during the 1st quarter. J.W. Cole Advisors Inc. now owns 10,362 shares of the company's stock worth $804,000 after buying an additional 4,018 shares in the last quarter. WNY Asset Management LLC raised its position in shares of Wheaton Precious Metals by 3.6% during the 1st quarter. WNY Asset Management LLC now owns 6,773 shares of the company's stock worth $526,000 after buying an additional 235 shares in the last quarter. Finally, OneAscent Financial Services LLC raised its position in shares of Wheaton Precious Metals by 100.0% during the 1st quarter. OneAscent Financial Services LLC now owns 14,082 shares of the company's stock worth $1,094,000 after buying an additional 7,041 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock opened at $94.01 on Friday. The company's 50 day simple moving average is $89.51 and its 200 day simple moving average is $78.17. Wheaton Precious Metals Corp. has a fifty-two week low of $53.05 and a fifty-two week high of $96.83. The firm has a market capitalization of $42.68 billion, a price-to-earnings ratio of 69.12, a PEG ratio of 2.64 and a beta of 0.46.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.55 earnings per share for the quarter, topping 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 business 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. Wheaton Precious Metals's quarterly revenue was up 58.4% compared to the same quarter last year. As a group, analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Wednesday, May 28th. Wheaton Precious Metals's payout ratio is currently 48.53%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wall Street Zen upgraded shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. National Bankshares reiterated an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, June 24th. UBS Group boosted their target price on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a report on Friday, April 11th. CIBC reiterated an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, July 15th. Finally, Royal Bank Of Canada boosted their target price on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Wheaton Precious Metals presently has a consensus rating of "Buy" and a consensus target price of $93.00.

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.

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