Douglas Lane & Associates LLC Cuts Position in Wheaton Precious Metals Corp. $WPM

Douglas Lane & Associates LLC trimmed its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 6.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 457,435 shares of the company’s stock after selling 33,665 shares during the period. Douglas Lane & Associates LLC owned 0.10% of Wheaton Precious Metals worth $51,160,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in WPM. Bulwark Capital Corp bought a new position in Wheaton Precious Metals in the second quarter worth about $27,000. Delta Asset Management LLC TN bought a new stake in shares of Wheaton Precious Metals in the 2nd quarter valued at about $27,000. Pacifica Partners Inc. grew its position in shares of Wheaton Precious Metals by 27.8% in the 3rd quarter. Pacifica Partners Inc. now owns 460 shares of the company’s stock worth $51,000 after buying an additional 100 shares during the last quarter. Wealth Preservation Advisors LLC bought a new position in shares of Wheaton Precious Metals during the 1st quarter worth approximately $38,000. Finally, City State Bank lifted its position in Wheaton Precious Metals by 40.0% during the second quarter. City State Bank now owns 560 shares of the company’s stock valued at $50,000 after acquiring an additional 160 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on WPM. Raymond James Financial lifted their price target on shares of Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Zacks Research upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 24th. CIBC upped their target price on Wheaton Precious Metals from $135.00 to $160.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. Wall Street Zen upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Monday, September 8th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday, December 15th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $130.78.

Wheaton Precious Metals Stock Performance

Shares of WPM opened at $119.75 on Friday. The stock has a 50-day moving average of $104.99 and a two-hundred day moving average of $99.80. The stock has a market cap of $54.37 billion, a P/E ratio of 54.43, a P/E/G ratio of 1.78 and a beta of 0.54. Wheaton Precious Metals Corp. has a one year low of $55.47 and a one year high of $120.55.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. Wheaton Precious Metals had a return on equity of 13.32% and a net margin of 54.72%.The business had revenue of $476.26 million for the quarter, compared to analyst estimates of $495.53 million. During the same period in the prior year, the company earned $0.34 earnings per share. The company’s revenue was up 54.5% on a year-over-year basis. Analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.6%. The ex-dividend date was Thursday, November 20th. Wheaton Precious Metals’s payout ratio is presently 30.00%.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.