Wheaton Precious Metals Corp. $WPM Stock Holdings Lessened by Stack Financial Management Inc

Stack Financial Management Inc lowered its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 1.6% during the second quarter, Holdings Channel reports. The fund owned 352,725 shares of the company’s stock after selling 5,754 shares during the quarter. Wheaton Precious Metals comprises 2.8% of Stack Financial Management Inc’s portfolio, making the stock its 9th biggest holding. Stack Financial Management Inc’s holdings in Wheaton Precious Metals were worth $31,675,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Lawson Kroeker Investment Management Inc. NE acquired a new stake in shares of Wheaton Precious Metals during the 2nd quarter worth about $224,000. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Wheaton Precious Metals by 19.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,839 shares of the company’s stock valued at $2,320,000 after buying an additional 4,245 shares during the period. Concurrent Investment Advisors LLC boosted its position in Wheaton Precious Metals by 14.7% during the second quarter. Concurrent Investment Advisors LLC now owns 4,123 shares of the company’s stock worth $370,000 after acquiring an additional 528 shares during the last quarter. Apollon Wealth Management LLC grew its stake in Wheaton Precious Metals by 10.5% in the 2nd quarter. Apollon Wealth Management LLC now owns 13,131 shares of the company’s stock worth $1,179,000 after acquiring an additional 1,247 shares during the period. Finally, Louisbourg Investments Inc. raised its holdings in Wheaton Precious Metals by 72.9% in the 2nd quarter. Louisbourg Investments Inc. now owns 115,846 shares of the company’s stock valued at $10,398,000 after acquiring an additional 48,852 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WPM. Scotiabank raised their price objective on Wheaton Precious Metals from $108.00 to $109.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 12th. Berenberg Bank raised their price target on Wheaton Precious Metals from $102.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Raymond James Financial upped their price objective on shares of Wheaton Precious Metals from $114.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday. Wall Street Zen raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Monday, September 8th. Finally, CIBC boosted their target price on shares of Wheaton Precious Metals from $135.00 to $160.00 and gave the company an “outperformer” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $114.50.

Wheaton Precious Metals Stock Performance

Shares of NYSE:WPM opened at $105.44 on Monday. The stock has a 50-day simple moving average of $102.44 and a 200-day simple moving average of $91.55. The stock has a market capitalization of $47.87 billion, a P/E ratio of 60.95, a PEG ratio of 2.81 and a beta of 0.41. Wheaton Precious Metals Corp. has a 1 year low of $55.47 and a 1 year high of $114.00.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The firm had revenue of $503.22 million for the quarter, compared to analysts’ expectations of $424.23 million. During the same period in the previous year, the company posted $0.33 earnings per share. Wheaton Precious Metals’s revenue was up 68.2% compared to the same quarter last year. Analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.6%. The ex-dividend date was Thursday, August 21st. Wheaton Precious Metals’s dividend payout ratio is currently 38.15%.

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.