Forsta AP Fonden Reduces Stock Position in Wheaton Precious Metals Corp. $WPM

Forsta AP Fonden decreased its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 0.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 100,300 shares of the company’s stock after selling 700 shares during the period. Forsta AP Fonden’s holdings in Wheaton Precious Metals were worth $9,002,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Canada Pension Plan Investment Board grew its holdings in shares of Wheaton Precious Metals by 57.6% during the first quarter. Canada Pension Plan Investment Board now owns 2,097,735 shares of the company’s stock worth $162,811,000 after buying an additional 766,947 shares in the last quarter. Amundi lifted its stake in shares of Wheaton Precious Metals by 33.2% during the first quarter. Amundi now owns 2,745,947 shares of the company’s stock valued at $215,557,000 after buying an additional 683,674 shares during the period. Bank of Montreal Can boosted its position in Wheaton Precious Metals by 10.3% during the second quarter. Bank of Montreal Can now owns 5,120,087 shares of the company’s stock worth $460,736,000 after acquiring an additional 478,236 shares during the last quarter. Nuveen LLC purchased a new stake in Wheaton Precious Metals in the 1st quarter worth approximately $36,885,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Wheaton Precious Metals by 10.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,072,786 shares of the company’s stock valued at $393,800,000 after acquiring an additional 470,651 shares during the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Price Performance

Shares of WPM stock opened at $105.57 on Friday. The firm has a fifty day moving average of $104.27 and a two-hundred day moving average of $95.16. The firm has a market cap of $47.93 billion, a P/E ratio of 61.02, a P/E/G ratio of 1.67 and a beta of 0.38. Wheaton Precious Metals Corp. has a 1-year low of $55.47 and a 1-year high of $114.36.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, November 6th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The business had revenue of $476.26 million for the quarter, compared to analyst estimates of $495.53 million. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The company’s revenue for the quarter was up 54.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.34 EPS. On average, sell-side analysts expect that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 20th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, November 20th. Wheaton Precious Metals’s dividend payout ratio is currently 30.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. BMO Capital Markets reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. UBS Group upped their price objective on Wheaton Precious Metals from $118.00 to $122.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Raymond James Financial raised their price target on shares of Wheaton Precious Metals from $114.00 to $127.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Wall Street Zen raised Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Monday, September 8th. Finally, Berenberg Bank raised their target price on Wheaton Precious Metals from $102.00 to $108.00 and gave the company a “buy” rating in a report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $124.50.

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.