Wheaton Precious Metals Corp. (NYSE:WPM) Shares Sold by Rock Point Advisors LLC

Rock Point Advisors LLC lessened its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 51.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 3,980 shares of the company’s stock after selling 4,160 shares during the quarter. Rock Point Advisors LLC’s holdings in Wheaton Precious Metals were worth $309,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in Wheaton Precious Metals in the fourth quarter worth about $20,790,000. Sei Investments Co. raised its position in Wheaton Precious Metals by 25.7% in the fourth quarter. Sei Investments Co. now owns 40,769 shares of the company’s stock worth $2,293,000 after acquiring an additional 8,331 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Wheaton Precious Metals by 37.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,109 shares of the company’s stock worth $630,000 after acquiring an additional 2,208 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in Wheaton Precious Metals by 5.8% in the first quarter. Sequoia Financial Advisors LLC now owns 5,392 shares of the company’s stock worth $419,000 after acquiring an additional 297 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC bought a new stake in Wheaton Precious Metals in the first quarter worth about $531,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Up 2.4%

Shares of WPM stock opened at $88.80 on Thursday. Wheaton Precious Metals Corp. has a 12 month low of $53.05 and a 12 month high of $95.23. The business’s 50 day moving average is $87.01 and its two-hundred day moving average is $75.16. The company has a market cap of $40.31 billion, a PE ratio of 65.29, a price-to-earnings-growth ratio of 2.62 and a beta of 0.46.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, May 8th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.50 by $0.05. The firm had revenue of $470.41 million during the quarter, compared to analysts’ expectations of $446.33 million. Wheaton Precious Metals had a return on equity of 10.32% and a net margin of 42.45%. Wheaton Precious Metals’s quarterly revenue was up 58.4% compared to the same quarter last year. During the same period last year, the business earned $0.36 earnings per share. As a group, equities analysts expect that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were paid a $0.165 dividend. 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 0.74%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 48.53%.

Wall Street Analyst Weigh In

WPM has been the topic of several recent analyst reports. Wall Street Zen upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Royal Bank Of Canada boosted their price objective on Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a “sector perform” rating in a report on Wednesday, June 4th. UBS Group boosted their price objective on Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Raymond James Financial upped their target price on Wheaton Precious Metals from $88.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, April 15th. Finally, CIBC upped their target price on Wheaton Precious Metals from $95.00 to $105.00 and gave the company an “outperformer” rating in a report on Friday, May 9th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $93.00.

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.