Wheaton Precious Metals Corp. $WPM Stock Sold by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC cut its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 14.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,533 shares of the company’s stock after selling 5,298 shares during the period. Crescent Grove Advisors LLC’s holdings in Wheaton Precious Metals were worth $4,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of Wheaton Precious Metals during the 2nd quarter worth $581,250,000. Canada Pension Plan Investment Board acquired a new stake in shares of Wheaton Precious Metals in the second quarter valued at $351,708,000. Bank of America Corp DE acquired a new stake in shares of Wheaton Precious Metals during the second quarter worth about $328,309,000. Legal & General Group Plc acquired a new stake in shares of Wheaton Precious Metals in the second quarter valued at $320,838,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Wheaton Precious Metals during the second quarter worth about $310,738,000. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on WPM shares. Bank of America decreased their price objective on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Scotiabank lowered their price target on Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. Weiss Ratings raised shares of Wheaton Precious Metals from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, October 9th. Berenberg Bank set a $157.00 price target on shares of Wheaton Precious Metals in a research note on Tuesday, July 28th. Finally, UBS Group raised their price objective on Wheaton Precious Metals from $153.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, October 8th. Ten investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $172.11.

Wheaton Precious Metals Price Performance

WPM opened at $132.07 on Thursday. Wheaton Precious Metals Corp. has a 1 year low of $92.57 and a 1 year high of $165.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.47 and a current ratio of 0.47. The company’s 50 day simple moving average is $144.36 and its 200 day simple moving average is $131.63. The stock has a market capitalization of $59.98 billion, a PE ratio of 29.28, a P/E/G ratio of 2.55 and a beta of 0.54.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The business had revenue of $878.00 million during the quarter, compared to the consensus estimate of $879.29 million. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%. The business’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 EPS. As a group, sell-side analysts expect that Wheaton Precious Metals Corp. will post 4.61 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were given a dividend of $0.1950 per share. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.78 annualized dividend and a yield of 0.6%. Wheaton Precious Metals’s payout ratio is 17.29%.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a precious metals streaming company headquartered in Vancouver, British Columbia. Rather than operating mines directly, the company provides upfront financing to mining companies in exchange for the right to purchase a portion of the gold, silver, palladium and cobalt produced by specific mining operations at predetermined prices.

Wheaton sells the streamed metals to customers and uses the proceeds to support its operations and investments. Its portfolio is linked to mining assets operated by third parties, with exposure to projects in the Americas and other regions.