Sumitomo Mitsui Trust Group Inc. Sells 492 Shares of Wheaton Precious Metals Corp. $WPM

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,617 shares of the company’s stock after selling 492 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Wheaton Precious Metals were worth $684,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Wheaton Precious Metals by 1.8% in the first quarter. Vanguard Group Inc. now owns 17,996,858 shares of the company’s stock valued at $1,396,556,000 after buying an additional 324,340 shares in the last quarter. TD Asset Management Inc lifted its position in Wheaton Precious Metals by 5.0% during the first quarter. TD Asset Management Inc now owns 7,512,351 shares of the company’s stock worth $582,876,000 after purchasing an additional 355,533 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Wheaton Precious Metals by 10.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,072,786 shares of the company’s stock worth $393,800,000 after buying an additional 470,651 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Wheaton Precious Metals by 5.0% in the 1st quarter. JPMorgan Chase & Co. now owns 3,060,056 shares of the company’s stock valued at $237,552,000 after buying an additional 144,782 shares during the period. Finally, Amundi lifted its stake in Wheaton Precious Metals by 33.2% during the first 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 last quarter. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Price Performance

Shares of NYSE WPM opened at $96.61 on Friday. The stock has a market capitalization of $43.86 billion, a P/E ratio of 55.84, a P/E/G ratio of 1.67 and a beta of 0.41. Wheaton Precious Metals Corp. has a 1 year low of $55.47 and a 1 year high of $114.36. The company has a 50-day moving average price of $104.08 and a 200-day moving average price of $94.10.

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

Wheaton Precious Metals Announces Dividend

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

Wall Street Analyst Weigh In

WPM has been the subject of several research reports. Raymond James Financial increased their price objective on shares of Wheaton Precious Metals from $114.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. UBS Group raised their target price on Wheaton Precious Metals from $118.00 to $122.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Scotiabank reissued an “outperform” rating on shares of Wheaton Precious Metals in a research report on Thursday, October 23rd. Berenberg Bank boosted their price objective on Wheaton Precious Metals from $102.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Wheaton Precious Metals in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $119.00.

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.