U S Global Investors Inc. Trims Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

U S Global Investors Inc. lowered its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 9.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 161,378 shares of the company’s stock after selling 16,103 shares during the quarter. Wheaton Precious Metals makes up approximately 1.7% of U S Global Investors Inc.’s investment portfolio, making the stock its 19th largest position. U S Global Investors Inc.’s holdings in Wheaton Precious Metals were worth $12,528,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Promus Capital LLC purchased a new stake in shares of Wheaton Precious Metals during the 4th quarter valued at about $32,000. NBT Bank N A NY increased its position in shares of Wheaton Precious Metals by 129.3% during the 1st quarter. NBT Bank N A NY now owns 415 shares of the company’s stock valued at $32,000 after purchasing an additional 234 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Wheaton Precious Metals during the 4th quarter valued at about $38,000. Quintet Private Bank Europe S.A. purchased a new stake in shares of Wheaton Precious Metals during the 4th quarter valued at about $39,000. Finally, Headlands Technologies LLC increased its position in shares of Wheaton Precious Metals by 494.9% during the 4th quarter. Headlands Technologies LLC now owns 696 shares of the company’s stock valued at $39,000 after purchasing an additional 579 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

WPM stock opened at $87.30 on Friday. Wheaton Precious Metals Corp. has a 1-year low of $51.96 and a 1-year high of $95.23. The company has a market capitalization of $39.63 billion, a price-to-earnings ratio of 64.19, a PEG ratio of 2.75 and a beta of 0.46. The business has a 50 day simple moving average of $85.86 and a two-hundred day simple moving average of $73.49.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.05. Wheaton Precious Metals had a return on equity of 10.32% and a net margin of 42.45%. The business had revenue of $470.41 million during the quarter, compared to the consensus estimate of $446.33 million. During the same period in the prior year, the company posted $0.36 EPS. The firm’s revenue for the quarter was up 58.4% compared to the same quarter last year. Sell-side analysts anticipate 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 Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were paid a $0.165 dividend. The ex-dividend date was Wednesday, May 28th. This represents a $0.66 annualized dividend and a yield of 0.76%. Wheaton Precious Metals’s payout ratio is 48.53%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on WPM shares. BMO Capital Markets started coverage on shares of Wheaton Precious Metals in a research report on Wednesday, April 16th. They set an “outperform” rating and a $129.00 price target for the company. Royal Bank Of Canada boosted their price objective on Wheaton Precious Metals from $80.00 to $90.00 and gave the company a “sector perform” rating in a research note on Wednesday, June 4th. CIBC boosted their price objective on Wheaton Precious Metals from $95.00 to $105.00 and gave the company an “outperformer” rating in a research note on Friday, May 9th. National Bankshares reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Tuesday. Finally, Scotiabank boosted their price objective on Wheaton Precious Metals from $79.00 to $87.00 and gave the company a “sector outperform” rating in a research note on Monday, April 14th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $92.75.

About Wheaton Precious Metals

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.