Wheaton Precious Metals Corp. $WPM Shares Sold by Global Assets Advisory LLC

Key Points

• Global Assets Advisory LLC significantly reduced its stake in Wheaton Precious Metals by 62.6% in Q2, selling 5,257 shares and retaining 3,143 shares worth $281,000.
• Despite the reduction by Global Assets, other institutional investors, including the Canada Pension Plan Investment Board and Amundi, increased their holdings in Wheaton Precious Metals during the same period.
• Wheaton Precious Metals reported a 68.2% increase in revenue year-over-year with an EPS of $0.63, surpassing analysts' estimates and reflecting strong financial performance.

Global Assets Advisory LLC cut its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 62.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,143 shares of the company's stock after selling 5,257 shares during the quarter. Global Assets Advisory LLC's holdings in Wheaton Precious Metals were worth $281,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board boosted its holdings in shares of Wheaton Precious Metals by 57.6% in the first quarter. Canada Pension Plan Investment Board now owns 2,097,735 shares of the company's stock valued at $162,811,000 after acquiring an additional 766,947 shares during the period. Amundi boosted its stake in Wheaton Precious Metals by 33.2% during the 1st quarter. Amundi now owns 2,745,947 shares of the company's stock worth $215,557,000 after purchasing an additional 683,674 shares during the period. Perpetual Ltd purchased a new position in Wheaton Precious Metals during the 1st quarter worth $50,430,000. Nuveen LLC acquired a new position in Wheaton Precious Metals in the first quarter valued at $36,885,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Wheaton Precious Metals by 10.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,072,786 shares of the company's stock valued at $393,800,000 after buying an additional 470,651 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. UBS Group raised their price target on Wheaton Precious Metals from $106.00 to $118.00 and gave the stock a "neutral" rating in a report on Friday, September 19th. CIBC lifted their target price on Wheaton Precious Metals from $130.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, September 25th. Wall Street Zen upgraded Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research note on Monday, September 8th. Raymond James Financial lifted their price objective on shares of Wheaton Precious Metals from $112.00 to $114.00 and gave the company an "outperform" rating in a research report on Friday, September 12th. Finally, Scotiabank boosted their price objective on shares of 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. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Wheaton Precious Metals has a consensus rating of "Moderate Buy" and an average target price of $109.75.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock opened at $109.90 on Tuesday. The stock's 50 day moving average price is $101.31 and its 200 day moving average price is $90.70. Wheaton Precious Metals Corp. has a 1-year low of $55.47 and a 1-year high of $114.00. The company has a market cap of $49.89 billion, a PE ratio of 63.53, a price-to-earnings-growth ratio of 2.94 and a beta of 0.41.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $424.23 million. During the same quarter last year, the company earned $0.33 earnings per share. Wheaton Precious Metals's quarterly revenue was up 68.2% compared to the same quarter last year. On average, equities research analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

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

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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