Sumitomo Mitsui Trust Group Inc. Has $387,000 Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Sumitomo Mitsui Trust Group Inc. reduced its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 5.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,340 shares of the company’s stock after selling 341 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Wheaton Precious Metals were worth $387,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Van ECK Associates Corp boosted its stake in shares of Wheaton Precious Metals by 1.0% during the 2nd quarter. Van ECK Associates Corp now owns 19,984,984 shares of the company’s stock worth $1,047,621,000 after acquiring an additional 197,426 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Wheaton Precious Metals by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 16,770,475 shares of the company’s stock worth $790,392,000 after acquiring an additional 272,918 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Wheaton Precious Metals by 16.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,309,175 shares of the company’s stock valued at $344,483,000 after purchasing an additional 1,010,307 shares during the period. TD Asset Management Inc boosted its stake in Wheaton Precious Metals by 22.5% during the 2nd quarter. TD Asset Management Inc now owns 5,950,317 shares of the company’s stock valued at $311,920,000 after purchasing an additional 1,092,480 shares during the period. Finally, Cibc World Market Inc. boosted its stake in Wheaton Precious Metals by 3.1% during the 2nd quarter. Cibc World Market Inc. now owns 3,574,648 shares of the company’s stock valued at $187,490,000 after purchasing an additional 108,976 shares during the period. Institutional investors own 70.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on WPM shares. UBS Group started coverage on Wheaton Precious Metals in a research note on Monday. They set a “buy” rating and a $78.00 target price for the company. Raymond James increased their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. TD Securities increased their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Jefferies Financial Group increased their target price on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $71.67.

Wheaton Precious Metals Stock Up 0.6 %

Wheaton Precious Metals stock opened at $62.97 on Thursday. The business has a 50 day moving average price of $62.95 and a two-hundred day moving average price of $59.03. The stock has a market cap of $28.56 billion, a price-to-earnings ratio of 46.99, a price-to-earnings-growth ratio of 2.14 and a beta of 0.77. Wheaton Precious Metals Corp. has a 12 month low of $38.57 and a 12 month high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, meeting the consensus estimate of $0.34. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The firm had revenue of $308.25 million during the quarter, compared to analysts’ expectations of $324.57 million. During the same quarter in the prior year, the firm posted $0.27 EPS. On average, analysts expect that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 21st will be issued a dividend of $0.155 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a yield of 0.98%. Wheaton Precious Metals’s dividend payout ratio is 46.27%.

About Wheaton Precious Metals

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.