Synergy Asset Management LLC Sells 8,708 Shares of Wheaton Precious Metals Corp. $WPM

Synergy Asset Management LLC reduced its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 67.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,254 shares of the company’s stock after selling 8,708 shares during the period. Synergy Asset Management LLC’s holdings in Wheaton Precious Metals were worth $500,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC purchased a new stake in shares of Wheaton Precious Metals during the 3rd quarter valued at about $26,000. Root Financial Partners LLC purchased a new position in Wheaton Precious Metals in the third quarter worth about $29,000. Aventura Private Wealth LLC purchased a new position in Wheaton Precious Metals in the fourth quarter worth about $34,000. Triumph Capital Management bought a new stake in Wheaton Precious Metals during the third quarter worth approximately $33,000. Finally, Pacifica Partners Inc. increased its stake in Wheaton Precious Metals by 27.8% during the third quarter. Pacifica Partners Inc. now owns 460 shares of the company’s stock worth $51,000 after acquiring an additional 100 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Wheaton Precious Metals in a research note on Sunday, December 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Monday, December 29th. Zacks Research lowered Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Royal Bank Of Canada upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $115.00 to $130.00 in a research report on Wednesday, December 10th. Finally, Wall Street Zen raised shares of Wheaton Precious Metals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 14th. Twelve equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and a consensus target price of $145.18.

Wheaton Precious Metals Trading Down 3.0%

Shares of NYSE:WPM opened at $118.97 on Friday. Wheaton Precious Metals Corp. has a 12 month low of $68.03 and a 12 month high of $165.76. The company has a market capitalization of $54.02 billion, a price-to-earnings ratio of 36.72, a PEG ratio of 1.76 and a beta of 0.50. The firm’s 50-day moving average is $142.44 and its 200 day moving average is $120.85.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, March 12th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.31. Wheaton Precious Metals had a net margin of 63.58% and a return on equity of 17.17%. The business had revenue of $864.71 million during the quarter, compared to the consensus estimate of $719.59 million. During the same quarter last year, the firm earned $0.44 earnings per share. The firm’s quarterly revenue was up 127.3% compared to the same quarter last year. As a group, equities analysts forecast that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.195 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.7%. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.17. Wheaton Precious Metals’s dividend payout ratio is 24.07%.

About Wheaton Precious Metals

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.