Oxbow Advisors LLC Cuts Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Oxbow Advisors LLC cut its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 67.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,769 shares of the company’s stock after selling 9,847 shares during the period. Oxbow Advisors LLC’s holdings in Wheaton Precious Metals were worth $225,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in WPM. Alpine Global Management LLC acquired a new position in Wheaton Precious Metals in the third quarter valued at approximately $214,000. JPMorgan Chase & Co. raised its stake in shares of Wheaton Precious Metals by 22.1% during the third quarter. JPMorgan Chase & Co. now owns 2,586,800 shares of the company’s stock worth $104,895,000 after purchasing an additional 468,782 shares during the last quarter. Integrated Advisors Network LLC purchased a new position in Wheaton Precious Metals in the third quarter worth $829,000. Deutsche Bank AG raised its position in Wheaton Precious Metals by 4.4% in the third quarter. Deutsche Bank AG now owns 3,623,133 shares of the company’s stock worth $146,918,000 after acquiring an additional 152,826 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Wheaton Precious Metals by 21.8% in the third quarter. American Century Companies Inc. now owns 695,377 shares of the company’s stock worth $28,199,000 after acquiring an additional 124,422 shares in the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WPM has been the subject of several research analyst reports. Scotiabank increased their price objective on Wheaton Precious Metals from $59.00 to $66.50 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Bank of America raised their price target on Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. CIBC raised their price target on Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a research report on Wednesday. Jefferies Financial Group raised their price target on Wheaton Precious Metals from $52.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Finally, Berenberg Bank raised their price target on Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $64.33.

Wheaton Precious Metals Stock Down 0.1 %

Shares of WPM traded down $0.07 during trading hours on Friday, reaching $59.22. 258,866 shares of the company traded hands, compared to its average volume of 1,889,456. The stock has a market capitalization of $26.86 billion, a PE ratio of 45.59, a price-to-earnings-growth ratio of 1.94 and a beta of 0.76. Wheaton Precious Metals Corp. has a fifty-two week low of $38.37 and a fifty-two week high of $59.75. The stock has a fifty day simple moving average of $54.70 and a 200 day simple moving average of $49.80.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. Wheaton Precious Metals had a return on equity of 8.53% and a net margin of 53.74%. The firm had revenue of $296.80 million for the quarter, compared to analyst estimates of $278.95 million. During the same period last year, the company earned $0.23 EPS. The firm’s quarterly revenue was up 38.7% on a year-over-year basis. Research analysts predict that Wheaton Precious Metals Corp. will post 1.28 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th were paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Wednesday, May 29th. Wheaton Precious Metals’s dividend payout ratio is currently 47.69%.

Wheaton Precious Metals Company 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.