Moran Wealth Management LLC Has $1.25 Million Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Moran Wealth Management LLC decreased its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,408 shares of the company’s stock after selling 1,176 shares during the quarter. Moran Wealth Management LLC’s holdings in Wheaton Precious Metals were worth $1,247,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Canoe Financial LP acquired a new stake in shares of Wheaton Precious Metals during the third quarter valued at about $113,017,000. AMF Tjanstepension AB grew its holdings in Wheaton Precious Metals by 593.5% during the 2nd quarter. AMF Tjanstepension AB now owns 1,608,134 shares of the company’s stock worth $84,388,000 after acquiring an additional 1,376,231 shares during the last quarter. Barings LLC bought a new position in shares of Wheaton Precious Metals during the second quarter valued at $65,405,000. TD Asset Management Inc lifted its holdings in shares of Wheaton Precious Metals by 22.5% during the second quarter. TD Asset Management Inc now owns 5,950,317 shares of the company’s stock worth $311,920,000 after purchasing an additional 1,092,480 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Wheaton Precious Metals by 16.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,309,175 shares of the company’s stock worth $344,483,000 after purchasing an additional 1,010,307 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

Shares of WPM opened at $63.40 on Friday. The stock has a 50-day moving average of $62.99 and a 200-day moving average of $59.06. Wheaton Precious Metals Corp. has a one year low of $38.57 and a one year high of $68.64. The company has a market cap of $28.76 billion, a PE ratio of 47.31, a P/E/G ratio of 2.28 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Friday, November 8th. The company reported $0.34 EPS for the quarter, meeting the consensus estimate of $0.34. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The firm had revenue of $308.25 million during the quarter, compared to the consensus estimate of $324.57 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. Analysts expect that Wheaton Precious Metals Corp. will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 21st will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is 46.27%.

Analyst Ratings Changes

Several brokerages have commented on WPM. Jefferies Financial Group lifted their target price on Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Stifel Canada downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. TD Securities boosted their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. UBS Group initiated coverage on shares of Wheaton Precious Metals in a research note on Monday. They set a “buy” rating and a $78.00 target price for the company. Finally, Scotiabank upped their price target on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $71.67.

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.