Wheaton Precious Metals Corp. $WPM Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC decreased its position in Wheaton Precious Metals by 2.2%, selling 6,700 shares to hold 302,350 shares valued at approximately $27.15 million.
• Analysts have raised their price targets for Wheaton Precious Metals, with forecasts ranging from $109.00 to $132.00, reflecting a positive outlook, including a majority rating of "Moderate Buy" for the stock.
• Wheaton Precious Metals declared a quarterly dividend of $0.165 per share, with a dividend yield of 0.6%, and a reported earnings per share of $0.63 for the most recent quarter, exceeding estimates by $0.05.

Allspring Global Investments Holdings LLC lowered its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 302,350 shares of the company's stock after selling 6,700 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.07% of Wheaton Precious Metals worth $27,154,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of WPM. Dynamic Advisor Solutions LLC acquired a new stake in shares of Wheaton Precious Metals in the 1st quarter worth approximately $531,000. Mission Wealth Management LP acquired a new stake in shares of Wheaton Precious Metals in the 1st quarter worth approximately $227,000. Janney Montgomery Scott LLC grew its holdings in shares of Wheaton Precious Metals by 10.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 41,043 shares of the company's stock worth $3,186,000 after acquiring an additional 3,750 shares during the period. Sowell Financial Services LLC acquired a new stake in shares of Wheaton Precious Metals in the 1st quarter worth approximately $769,000. Finally, QRG Capital Management Inc. acquired a new stake in shares of Wheaton Precious Metals in the 1st quarter worth approximately $229,000. Institutional investors and hedge funds own 70.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on WPM shares. Raymond James Financial upped their price target on Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an "outperform" rating in a report on Friday, October 10th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Wheaton Precious Metals in a research note on Wednesday, October 8th. Scotiabank upped their target price on Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 12th. Bank of America upped their target price on Wheaton Precious Metals from $127.00 to $132.00 and gave the company a "buy" rating in a research note on Thursday. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of "Moderate Buy" and an average target price of $116.89.

Wheaton Precious Metals Stock Up 2.9%

Shares of Wheaton Precious Metals stock opened at $113.46 on Friday. Wheaton Precious Metals Corp. has a fifty-two week low of $55.47 and a fifty-two week high of $114.36. The firm has a market cap of $51.51 billion, a PE ratio of 65.58, a P/E/G ratio of 2.94 and a beta of 0.41. The business's fifty day moving average is $103.41 and its two-hundred day moving average is $92.27.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The company had revenue of $503.22 million for the quarter, compared to analyst estimates of $424.23 million. During the same quarter in the prior year, the company posted $0.33 EPS. The business's revenue for the quarter was up 68.2% compared to the same quarter last year. Equities research analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 21st. Wheaton Precious Metals's dividend payout ratio is currently 38.15%.

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.

Want to see what other hedge funds are holding WPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wheaton Precious Metals Corp. (NYSE:WPM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.