Wheaton Precious Metals Corp. (NYSE:WPM) Holdings Lowered by Moors & Cabot Inc.

Moors & Cabot Inc. lowered its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 4.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,187 shares of the company’s stock after selling 2,180 shares during the quarter. Moors & Cabot Inc.’s holdings in Wheaton Precious Metals were worth $2,474,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ridgewood Investments LLC purchased a new position in shares of Wheaton Precious Metals in the second quarter worth approximately $31,000. Principal Securities Inc. acquired a new position in Wheaton Precious Metals in the 4th quarter worth approximately $39,000. St. Johns Investment Management Company LLC purchased a new position in Wheaton Precious Metals during the 1st quarter worth approximately $52,000. Western Pacific Wealth Management LP raised its stake in Wheaton Precious Metals by 19.6% during the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock valued at $63,000 after purchasing an additional 218 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Wheaton Precious Metals by 25.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock valued at $65,000 after purchasing an additional 253 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

NYSE WPM opened at $61.71 on Wednesday. The firm has a market cap of $27.99 billion, a P/E ratio of 47.47, a price-to-earnings-growth ratio of 2.26 and a beta of 0.78. The stock’s 50-day moving average is $59.44 and its two-hundred day moving average is $54.32. Wheaton Precious Metals Corp. has a fifty-two week low of $38.37 and a fifty-two week high of $63.13.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The firm had revenue of $299.06 million during the quarter, compared to analyst estimates of $309.54 million. During the same period in the previous year, the company earned $0.31 EPS. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, equities analysts expect that Wheaton Precious Metals Corp. will post 1.4 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were issued a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 annualized dividend and a yield of 1.00%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 47.69%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WPM. Berenberg Bank lifted their price target on Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, June 27th. BMO Capital Markets upped their target price on Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, May 21st. Bank of America raised their price target on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. TD Securities dropped their price objective on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, Scotiabank lifted their target price on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and an average price target of $67.50.

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.