Moors & Cabot Inc. Sells 11,825 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Moors & Cabot Inc. trimmed its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 26.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 33,392 shares of the company’s stock after selling 11,825 shares during the quarter. Moors & Cabot Inc.’s holdings in Wheaton Precious Metals were worth $2,592,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of WPM. Capital International Investors bought a new stake in Wheaton Precious Metals in the fourth quarter valued at approximately $263,810,000. Mackenzie Financial Corp increased its stake in Wheaton Precious Metals by 54.4% in the fourth quarter. Mackenzie Financial Corp now owns 3,223,154 shares of the company’s stock valued at $181,227,000 after purchasing an additional 1,135,699 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in Wheaton Precious Metals by 1,321.7% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,221,522 shares of the company’s stock valued at $68,720,000 after purchasing an additional 1,135,603 shares in the last quarter. FMR LLC increased its stake in Wheaton Precious Metals by 5.9% in the fourth quarter. FMR LLC now owns 15,529,219 shares of the company’s stock valued at $873,995,000 after purchasing an additional 863,306 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Wheaton Precious Metals by 33.1% in the fourth quarter. Geode Capital Management LLC now owns 2,664,542 shares of the company’s stock valued at $151,134,000 after purchasing an additional 661,913 shares in the last quarter. 70.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on WPM shares. Wall Street Zen raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Royal Bank Of Canada increased their price objective on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a “sector perform” rating in a research report on Wednesday, June 4th. CIBC reissued an “outperform” rating on shares of Wheaton Precious Metals in a research report on Tuesday, July 15th. UBS Group increased their price objective on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Finally, National Bankshares reissued an “outperform” rating on shares of Wheaton Precious Metals in a research report on Tuesday, June 24th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $93.00.

Wheaton Precious Metals Trading Up 0.7%

Shares of WPM opened at $92.11 on Friday. Wheaton Precious Metals Corp. has a 12 month low of $53.05 and a 12 month high of $96.83. The firm has a fifty day simple moving average of $90.31 and a 200 day simple moving average of $79.23. The stock has a market capitalization of $41.81 billion, a price-to-earnings ratio of 67.73, a PEG ratio of 2.56 and a beta of 0.39.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Thursday, May 8th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.50 by $0.05. Wheaton Precious Metals had a net margin of 42.45% and a return on equity of 10.32%. The business had revenue of $470.41 million during the quarter, compared to analysts’ expectations of $446.33 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. The firm’s revenue was up 58.4% on a year-over-year basis. As a group, research analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were issued a dividend of $0.165 per share. The ex-dividend date was Wednesday, May 28th. This represents a $0.66 annualized dividend and a yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio is presently 48.53%.

Wheaton Precious Metals 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.