Crossmark Global Holdings Inc. Sells 7,417 Shares of Wheaton Precious Metals Corp. $WPM

Crossmark Global Holdings Inc. decreased its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 25.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,601 shares of the company’s stock after selling 7,417 shares during the period. Crossmark Global Holdings Inc.’s holdings in Wheaton Precious Metals were worth $2,539,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WPM. AQR Capital Management LLC bought a new position in Wheaton Precious Metals in the 1st quarter worth about $331,000. Focus Partners Wealth boosted its stake in Wheaton Precious Metals by 10.7% in the 1st quarter. Focus Partners Wealth now owns 11,223 shares of the company’s stock worth $871,000 after purchasing an additional 1,081 shares in the last quarter. Acadian Asset Management LLC bought a new position in Wheaton Precious Metals in the 1st quarter worth about $209,000. Sivia Capital Partners LLC bought a new position in Wheaton Precious Metals in the 2nd quarter worth about $239,000. Finally, Rhumbline Advisers boosted its stake in Wheaton Precious Metals by 28.3% in the 2nd quarter. Rhumbline Advisers now owns 2,952 shares of the company’s stock worth $265,000 after purchasing an additional 652 shares in the last quarter. Institutional investors own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

WPM has been the topic of several research analyst reports. Scotiabank upped their target price on shares of Wheaton Precious Metals from $175.00 to $178.00 and gave the company a “sector outperform” rating in a research note on Monday, March 16th. Wall Street Zen cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 28th. Zacks Research cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. UBS Group upgraded shares of Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 target price on the stock in a research note on Friday, March 27th. Finally, TD Cowen upped their target price on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Thirteen investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.45.

Wheaton Precious Metals Stock Up 3.7%

Shares of NYSE:WPM opened at $143.98 on Tuesday. The firm’s 50 day moving average price is $138.25 and its 200-day moving average price is $127.45. The stock has a market capitalization of $65.38 billion, a PE ratio of 36.36, a price-to-earnings-growth ratio of 2.68 and a beta of 0.50. Wheaton Precious Metals Corp. has a twelve month low of $75.42 and a twelve month high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.04. The company had revenue of $901.47 million during the quarter, compared to analyst estimates of $868.35 million. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The firm’s quarterly revenue was up 91.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.55 EPS. Analysts expect that Wheaton Precious Metals Corp. will post 4.88 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th will be issued a $0.195 dividend. This represents a $0.78 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio is currently 19.70%.

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.