Federated Hermes Inc. Sells 262,636 Shares of Wheaton Precious Metals Corp. $WPM

Federated Hermes Inc. lowered its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 28.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 657,188 shares of the company’s stock after selling 262,636 shares during the period. Federated Hermes Inc.’s holdings in Wheaton Precious Metals were worth $59,015,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Bulwark Capital Corp bought a new position in Wheaton Precious Metals during the second quarter valued at $27,000. Delta Asset Management LLC TN bought a new position in shares of Wheaton Precious Metals during the 2nd quarter worth $27,000. Wealth Preservation Advisors LLC purchased a new stake in Wheaton Precious Metals in the 1st quarter worth about $38,000. City State Bank raised its stake in Wheaton Precious Metals by 40.0% in the 2nd quarter. City State Bank now owns 560 shares of the company’s stock valued at $50,000 after acquiring an additional 160 shares during the period. Finally, Advisors Asset Management Inc. purchased a new stake in Wheaton Precious Metals during the second quarter valued at about $70,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

Shares of NYSE:WPM opened at $105.16 on Tuesday. The firm has a fifty day moving average price of $103.77 and a two-hundred day moving average price of $98.14. The company has a market cap of $47.74 billion, a price-to-earnings ratio of 47.80, a PEG ratio of 1.61 and a beta of 0.54. Wheaton Precious Metals Corp. has a one year low of $55.47 and a one year high of $114.36.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. The company had revenue of $476.26 million for the quarter, compared to the consensus estimate of $495.53 million. Wheaton Precious Metals had a return on equity of 13.32% and a net margin of 54.72%.The firm’s revenue was up 54.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 earnings per share. Equities research analysts expect that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 20th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Thursday, November 20th. Wheaton Precious Metals’s dividend payout ratio (DPR) is 30.00%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WPM. Weiss Ratings reiterated a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday, December 1st. UBS Group lifted their price objective on shares of Wheaton Precious Metals from $116.00 to $118.00 and gave the company a “neutral” rating in a research note on Monday, December 1st. Bank of America boosted their target price on shares of Wheaton Precious Metals from $127.00 to $132.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Raymond James Financial raised their price target on Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Finally, Scotiabank reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Thursday, October 23rd. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $126.33.

Wheaton Precious Metals 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.