Wheaton Precious Metals Corp. $WPM Stock Holdings Lessened by Cadinha & Co. LLC

Key Points

• Cadinha & Co. LLC reduced its holdings in Wheaton Precious Metals Corp. by 21.1% in the 2nd quarter, resulting in ownership of 13,710 shares valued at $1,231,000.
• Wheaton Precious Metals displayed strong financial performance with a 68.2% year-over-year revenue increase, reporting $503.22 million for the quarter and $0.63 EPS, surpassing analyst expectations.
• The company declared a quarterly dividend of $0.165 per share, translating to a 0.7% dividend yield and a payout ratio of 38.15%.

Cadinha & Co. LLC decreased its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 21.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,710 shares of the company's stock after selling 3,660 shares during the quarter. Cadinha & Co. LLC's holdings in Wheaton Precious Metals were worth $1,231,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WPM. Janney Montgomery Scott LLC boosted its position in Wheaton Precious Metals by 10.1% during 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. QRG Capital Management Inc. bought a new stake in Wheaton Precious Metals in the first quarter worth approximately $229,000. Continuum Advisory LLC raised its holdings in Wheaton Precious Metals by 9.0% during the first quarter. Continuum Advisory LLC now owns 1,823 shares of the company's stock valued at $142,000 after buying an additional 151 shares in the last quarter. Global Assets Advisory LLC acquired a new position in Wheaton Precious Metals during the first quarter valued at approximately $622,000. Finally, Spire Wealth Management lifted its stake in shares of Wheaton Precious Metals by 56.4% in the first quarter. Spire Wealth Management now owns 8,877 shares of the company's stock worth $689,000 after buying an additional 3,200 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company's stock.

Wheaton Precious Metals Stock Up 2.6%

Shares of WPM stock opened at $98.31 on Thursday. The company has a market capitalization of $44.63 billion, a P/E ratio of 57.37, a P/E/G ratio of 1.72 and a beta of 0.41. Wheaton Precious Metals Corp. has a 12-month low of $55.47 and a 12-month high of $114.36. The firm has a 50-day moving average price of $103.69 and a 200 day moving average price of $92.95.

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

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, August 21st. Wheaton Precious Metals's dividend payout ratio is 38.15%.

Wall Street Analyst Weigh In

WPM has been the subject of a number of recent analyst reports. Weiss Ratings restated a "buy (b-)" rating on shares of Wheaton Precious Metals in a report on Wednesday, October 8th. Berenberg Bank boosted their price target on shares of Wheaton Precious Metals from $102.00 to $108.00 and gave the company a "buy" rating in a report on Friday, September 12th. UBS Group lifted their target price on shares of Wheaton Precious Metals from $118.00 to $122.00 and gave the company a "neutral" rating in a research report on Thursday, October 16th. Scotiabank increased their price target on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 12th. Finally, CIBC lifted their price objective on Wheaton Precious Metals from $135.00 to $160.00 and gave the company an "outperformer" rating in a report on Friday, October 10th. One 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 company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $116.89.

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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