Wheaton Precious Metals Corp. $WPM Shares Sold by Perpetual Ltd

Perpetual Ltd lessened its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 39.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 350,041 shares of the company’s stock after selling 230,660 shares during the quarter. Perpetual Ltd’s holdings in Wheaton Precious Metals were worth $39,149,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Bulwark Capital Corp purchased a new stake in shares of Wheaton Precious Metals during the second quarter valued at approximately $27,000. Delta Asset Management LLC TN bought a new stake in Wheaton Precious Metals in the second quarter valued at $27,000. Pacifica Partners Inc. boosted its stake in Wheaton Precious Metals by 27.8% during the 3rd quarter. Pacifica Partners Inc. now owns 460 shares of the company’s stock valued at $51,000 after purchasing an additional 100 shares during the period. Wealth Preservation Advisors LLC bought a new position in Wheaton Precious Metals in the 1st quarter worth approximately $38,000. Finally, City State Bank increased its holdings in shares of Wheaton Precious Metals by 40.0% during the second quarter. City State Bank now owns 560 shares of the company’s stock valued at $50,000 after purchasing an additional 160 shares during the period. 70.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on WPM shares. UBS Group upped their target price on Wheaton Precious Metals from $116.00 to $118.00 and gave the stock a “neutral” rating in a research report on Monday, December 1st. Scotiabank reissued an “outperform” rating on shares of Wheaton Precious Metals in a research report on Thursday, October 23rd. Berenberg Bank raised their price target on shares of Wheaton Precious Metals from $102.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Monday. Finally, Raymond James Financial upped their price objective on shares of Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of “Buy” and a consensus target price of $130.78.

Wheaton Precious Metals Trading Up 3.7%

WPM stock opened at $119.75 on Friday. Wheaton Precious Metals Corp. has a 1-year low of $55.47 and a 1-year high of $120.55. The firm has a market cap of $54.37 billion, a P/E ratio of 54.43, a P/E/G ratio of 1.71 and a beta of 0.54. The business’s 50 day moving average is $104.99 and its 200-day moving average is $99.75.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The firm had revenue of $476.26 million for the quarter, compared to analyst estimates of $495.53 million. Wheaton Precious Metals had a net margin of 54.72% and a return on equity of 13.32%. The company’s revenue for the quarter was up 54.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 earnings per share. Sell-side analysts forecast that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

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

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.