Avanza Fonder AB Sells 7,800 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Avanza Fonder AB cut its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 17.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,854 shares of the company’s stock after selling 7,800 shares during the quarter. Avanza Fonder AB’s holdings in Wheaton Precious Metals were worth $2,783,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Promus Capital LLC bought a new position in Wheaton Precious Metals in the 4th quarter valued at approximately $32,000. Princeton Global Asset Management LLC acquired a new position in Wheaton Precious Metals in the 1st quarter valued at approximately $52,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Wheaton Precious Metals during the fourth quarter valued at $38,000. Headlands Technologies LLC raised its stake in shares of Wheaton Precious Metals by 494.9% during the fourth quarter. Headlands Technologies LLC now owns 696 shares of the company’s stock valued at $39,000 after acquiring an additional 579 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. acquired a new position in shares of Wheaton Precious Metals during the fourth quarter worth $39,000. 70.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on WPM. BMO Capital Markets began coverage on shares of Wheaton Precious Metals in a research note on Wednesday, April 16th. They issued an “outperform” rating and a $129.00 price objective on the stock. Scotiabank upped their price target on Wheaton Precious Metals from $79.00 to $87.00 and gave the company a “sector outperform” rating in a research report on Monday, April 14th. Wall Street Zen upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Raymond James lifted their price objective on Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 15th. Finally, Royal Bank of Canada increased their target price on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 4th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Wheaton Precious Metals currently has an average rating of “Buy” and a consensus price target of $86.90.

Wheaton Precious Metals Stock Performance

Shares of WPM opened at $88.12 on Wednesday. The firm has a market cap of $39.99 billion, a PE ratio of 65.76, a price-to-earnings-growth ratio of 1.91 and a beta of 0.46. Wheaton Precious Metals Corp. has a 52-week low of $51.96 and a 52-week high of $95.23. The business’s 50 day moving average price is $82.65 and its two-hundred day moving average price is $71.04.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, May 8th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.05. The business had revenue of $470.41 million for the quarter, compared to analyst estimates of $446.33 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. Wheaton Precious Metals’s revenue was up 58.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 earnings per share. Research analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.75%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 48.53%.

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.