Crescent Grove Advisors LLC lowered its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 14.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,533 shares of the company’s stock after selling 5,298 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Wheaton Precious Metals were worth $4,083,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC lifted its position in Wheaton Precious Metals by 245.5% in the first quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock valued at $29,000 after purchasing an additional 162 shares during the last quarter. Hollencrest Capital Management grew its stake in Wheaton Precious Metals by 73.5% in the first quarter. Hollencrest Capital Management now owns 236 shares of the company’s stock worth $31,000 after purchasing an additional 100 shares during the period. Hickory Point Bank & Trust purchased a new stake in shares of Wheaton Precious Metals in the 3rd quarter worth about $40,000. Bangor Savings Bank bought a new position in shares of Wheaton Precious Metals during the third quarter valued at approximately $40,000. Finally, Wellington Altus USA Inc. boosted its holdings in Wheaton Precious Metals by 446.7% in the second quarter. Wellington Altus USA Inc. now owns 328 shares of the company’s stock worth $37,000 after acquiring an additional 268 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have weighed in on WPM shares. Berenberg Bank set a $157.00 target price on Wheaton Precious Metals in a research report on Tuesday, July 28th. UBS Group boosted their price target on Wheaton Precious Metals from $153.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, October 8th. Bank of America reduced their target price on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Scotiabank dropped their price objective on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. Finally, Jefferies Financial Group lowered their price target on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $172.11.
View Our Latest Analysis on WPM
Wheaton Precious Metals Trading Up 0.6%
NYSE:WPM opened at $132.07 on Thursday. Wheaton Precious Metals Corp. has a one year low of $92.57 and a one year high of $165.76. The firm has a 50-day simple moving average of $144.36 and a 200-day simple moving average of $131.63. The firm has a market cap of $59.98 billion, a P/E ratio of 29.28, a P/E/G ratio of 2.55 and a beta of 0.54. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.47 and a current ratio of 0.47.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The firm had revenue of $878.00 million during the quarter, compared to analysts’ expectations of $879.29 million. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%. The firm’s quarterly revenue was up 84.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 EPS. Equities analysts anticipate that Wheaton Precious Metals Corp. will post 4.61 EPS for the current fiscal year.
Wheaton Precious Metals Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were paid a $0.1950 dividend. This represents a $0.78 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Thursday, August 20th. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 17.29%.
Wheaton Precious Metals Company Profile
Wheaton Precious Metals Corp. is a precious metals streaming company headquartered in Vancouver, British Columbia. Rather than operating mines directly, the company provides upfront financing to mining companies in exchange for the right to purchase a portion of the gold, silver, palladium and cobalt produced by specific mining operations at predetermined prices.
Wheaton sells the streamed metals to customers and uses the proceeds to support its operations and investments. Its portfolio is linked to mining assets operated by third parties, with exposure to projects in the Americas and other regions.
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