IFP Advisors Inc lessened its position in Wheaton Precious Metals Corp. (NYSE:WPM – Get Rating) by 38.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,795 shares of the company’s stock after selling 3,641 shares during the period. IFP Advisors Inc’s holdings in Wheaton Precious Metals were worth $128,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Wheaton Precious Metals by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 15,310,279 shares of the company’s stock worth $495,440,000 after buying an additional 485,237 shares in the last quarter. Royal Bank of Canada raised its position in shares of Wheaton Precious Metals by 4.8% during the third quarter. Royal Bank of Canada now owns 10,166,789 shares of the company’s stock worth $328,999,000 after purchasing an additional 464,829 shares during the period. Massachusetts Financial Services Co. MA raised its position in Wheaton Precious Metals by 7.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,766,392 shares of the company’s stock valued at $218,960,000 after buying an additional 453,622 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Wheaton Precious Metals by 6.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,344,956 shares of the company’s stock valued at $301,893,000 after buying an additional 361,138 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its position in Wheaton Precious Metals by 3.7% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 5,580,167 shares of the company’s stock valued at $218,072,000 after buying an additional 200,945 shares during the period. Institutional investors own 57.01% of the company’s stock.
Analyst Upgrades and Downgrades
WPM has been the topic of several recent analyst reports. Raymond James upped their price target on Wheaton Precious Metals from $51.00 to $54.00 and gave the company an “outperform” rating in a research report on Tuesday, April 25th. Scotiabank initiated coverage on Wheaton Precious Metals in a research report on Wednesday, April 12th. They set a “sector outperform” rating and a $60.00 price target on the stock. TD Securities upped their price target on Wheaton Precious Metals from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Monday, May 8th. BMO Capital Markets dropped their target price on Wheaton Precious Metals from $52.00 to $51.00 and set an “outperform” rating on the stock in a research report on Friday, March 10th. Finally, National Bank Financial dropped their target price on Wheaton Precious Metals from C$70.00 to C$68.00 in a research report on Tuesday, February 14th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.33.
Wheaton Precious Metals Stock Performance
Wheaton Precious Metals (NYSE:WPM – Get Rating) last issued its quarterly earnings data on Friday, May 5th. The company reported $0.23 EPS for the quarter, meeting analysts’ consensus estimates of $0.23. The business had revenue of $214.00 million for the quarter, compared to analyst estimates of $237.87 million. Wheaton Precious Metals had a return on equity of 6.81% and a net margin of 64.08%. The firm’s revenue for the quarter was down 30.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 EPS. As a group, equities research analysts forecast that Wheaton Precious Metals Corp. will post 1.16 earnings per share for the current year.
Wheaton Precious Metals Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Friday, May 19th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Thursday, May 18th. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 43.48%.
About Wheaton Precious Metals
Wheaton Precious Metals Corp. is a mining company engages in the sale of precious metals and cobalt production. It operates through the following business segments: Gold, Silver, Palladium, Cobalt, and Other. The company was founded by Peter Derek Barnes on December 17, 2004 and is headquartered in Vancouver, Canada.
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