Wheaton Precious Metals Corp. $WPM Stake Lowered by U S Global Investors Inc.

Key Points

• U S Global Investors Inc. reduced its stake in Wheaton Precious Metals Corp. by 10.9% during the 2nd quarter, now holding 143,810 shares valued at approximately $12.9 million.
• Analysts have reacted positively, with UBS Group raising their price target from $106 to $118, while Raymond James and CIBC set targets of $127 and $160 respectively.
• Wheaton Precious Metals reported earnings of $0.63 per share for the last quarter, exceeding estimates, with revenue up 68.2% year-over-year, totaling $503.22 million.

U S Global Investors Inc. cut its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 10.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 143,810 shares of the company's stock after selling 17,568 shares during the quarter. Wheaton Precious Metals makes up 1.5% of U S Global Investors Inc.'s portfolio, making the stock its 21st largest holding. U S Global Investors Inc.'s holdings in Wheaton Precious Metals were worth $12,914,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in WPM. Assenagon Asset Management S.A. grew its holdings in shares of Wheaton Precious Metals by 21.6% during the first quarter. Assenagon Asset Management S.A. now owns 22,515 shares of the company's stock valued at $1,747,000 after purchasing an additional 3,995 shares during the last quarter. Focus Financial Network Inc. acquired a new position in shares of Wheaton Precious Metals during the first quarter worth approximately $235,000. Dynamic Advisor Solutions LLC acquired a new position in shares of Wheaton Precious Metals during the first quarter worth approximately $531,000. Exchange Traded Concepts LLC boosted its position in shares of Wheaton Precious Metals by 5,413.9% during the first quarter. Exchange Traded Concepts LLC now owns 53,154 shares of the company's stock worth $4,126,000 after buying an additional 52,190 shares during the period. Finally, Mission Wealth Management LP acquired a new position in shares of Wheaton Precious Metals during the first quarter worth approximately $227,000. 70.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on WPM shares. Wall Street Zen upgraded Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research report on Monday, September 8th. UBS Group boosted their price objective on Wheaton Precious Metals from $106.00 to $118.00 and gave the stock a "neutral" rating in a research report on Friday, September 19th. Raymond James Financial boosted their price objective on Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an "outperform" rating in a research report on Friday. CIBC boosted their price objective on Wheaton Precious Metals from $135.00 to $160.00 and gave the stock an "outperformer" rating in a research report on Friday. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Wheaton Precious Metals presently has an average rating of "Moderate Buy" and a consensus price target of $114.50.

Wheaton Precious Metals Price Performance

WPM opened at $105.44 on Friday. The company has a market capitalization of $47.87 billion, a price-to-earnings ratio of 60.95, a price-to-earnings-growth ratio of 2.76 and a beta of 0.41. Wheaton Precious Metals Corp. has a 1-year low of $55.47 and a 1-year high of $114.00. The business has a 50 day moving average price of $102.44 and a two-hundred day moving average price of $91.34.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its 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 firm had revenue of $503.22 million during the quarter, compared to the consensus estimate of $424.23 million. During the same period in the prior year, the firm posted $0.33 earnings per share. The firm's revenue for the quarter was up 68.2% compared to the same quarter last year. Equities analysts expect that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were given 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 was Thursday, August 21st. Wheaton Precious Metals's dividend payout ratio is 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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