Wheaton Precious Metals Corp. $WPM Shares Sold by Douglas Lane & Associates LLC

Key Points

• Douglas Lane & Associates LLC trimmed its stake in Wheaton Precious Metals by 5.9%, selling 26,907 shares and leaving 430,528 shares (about 0.09% of the company) valued at roughly $50.6 million.
• Wheaton posted stronger-than-expected quarterly results with EPS $1.22 versus $0.91 estimated and revenue of $864.7 million, a 127.3% year-over-year increase.
• Analysts hold a "Moderate Buy" consensus (13 Buys, 1 Hold) with a $155.45 average price target, and the company raised its quarterly dividend to $0.195 ($0.78 annualized, ~0.6% yield).

Douglas Lane & Associates LLC reduced its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 430,528 shares of the company's stock after selling 26,907 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.09% of Wheaton Precious Metals worth $50,596,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Shikiar Asset Management Inc. grew its position in Wheaton Precious Metals by 25.0% in the 4th quarter. Shikiar Asset Management Inc. now owns 73,445 shares of the company's stock valued at $8,631,000 after acquiring an additional 14,670 shares in the last quarter. Addenda Capital Inc. grew its position in Wheaton Precious Metals by 20.8% in the 4th quarter. Addenda Capital Inc. now owns 570,442 shares of the company's stock valued at $67,038,000 after acquiring an additional 98,152 shares in the last quarter. Modera Wealth Management LLC grew its position in Wheaton Precious Metals by 21.0% in the 4th quarter. Modera Wealth Management LLC now owns 2,459 shares of the company's stock valued at $289,000 after acquiring an additional 426 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. grew its position in Wheaton Precious Metals by 11.4% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 33,210 shares of the company's stock valued at $3,950,000 after acquiring an additional 3,400 shares in the last quarter. Finally, Rathbones Group PLC grew its position in Wheaton Precious Metals by 10.9% in the 4th quarter. Rathbones Group PLC now owns 15,098 shares of the company's stock valued at $1,776,000 after acquiring an additional 1,483 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on WPM. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. Wall Street Zen downgraded Wheaton Precious Metals from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 28th. Zacks Research downgraded Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 5th. UBS Group raised Wheaton Precious Metals from a "neutral" rating to a "buy" rating and set a $160.00 price objective for the company in a research report on Friday, March 27th. Finally, BMO Capital Markets began coverage on Wheaton Precious Metals in a research report on Thursday. They set an "outperform" rating and a $240.00 price objective for the company. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $155.45.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock opened at $140.98 on Friday. Wheaton Precious Metals Corp. has a one year low of $74.24 and a one year high of $165.76. The company has a market cap of $64.01 billion, a PE ratio of 43.51, a P/E/G ratio of 3.19 and a beta of 0.60. The business has a 50-day simple moving average of $140.27 and a 200-day simple moving average of $122.78.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings data on Thursday, March 12th. The company reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.31. The business had revenue of $864.71 million during the quarter, compared to the consensus estimate of $719.59 million. Wheaton Precious Metals had a return on equity of 17.17% and a net margin of 63.58%.The business's revenue for the quarter was up 127.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 earnings per share. On average, sell-side analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.195 per share. The ex-dividend date is Tuesday, March 31st. This is a positive change from Wheaton Precious Metals's previous quarterly dividend of $0.17. This represents a $0.78 annualized dividend and a yield of 0.6%. Wheaton Precious Metals's dividend payout ratio (DPR) is presently 24.07%.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company's activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.

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