Wheaton Precious Metals Corp. (NYSE:WPM) Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. trimmed its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 10.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,503 shares of the company’s stock after selling 400 shares during the period. Pinnacle Associates Ltd.’s holdings in Wheaton Precious Metals were worth $272,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Capital International Investors acquired a new stake in shares of Wheaton Precious Metals during the 4th quarter valued at about $263,810,000. Arrowstreet Capital Limited Partnership purchased a new position in Wheaton Precious Metals during the fourth quarter worth approximately $72,657,000. Mackenzie Financial Corp grew its holdings in Wheaton Precious Metals by 54.4% in the fourth quarter. Mackenzie Financial Corp now owns 3,223,154 shares of the company’s stock valued at $181,227,000 after purchasing an additional 1,135,699 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Wheaton Precious Metals by 1,321.7% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,221,522 shares of the company’s stock valued at $68,720,000 after buying an additional 1,135,603 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Wheaton Precious Metals by 5.9% during the 4th quarter. FMR LLC now owns 15,529,219 shares of the company’s stock worth $873,995,000 after buying an additional 863,306 shares during the period. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Trading Down 2.4%

WPM opened at $91.73 on Tuesday. Wheaton Precious Metals Corp. has a twelve month low of $53.05 and a twelve month high of $96.83. The firm has a market capitalization of $41.64 billion, a PE ratio of 67.45, a PEG ratio of 2.64 and a beta of 0.46. The firm’s 50-day moving average price is $89.74 and its 200 day moving average price is $78.56.

Wheaton Precious Metals (NYSE:WPM) last issued its 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 for the quarter, compared to analysts’ expectations of $446.33 million. During the same period in the previous year, the firm posted $0.36 EPS. The business’s revenue for the quarter was up 58.4% compared to the same quarter last year. As a group, analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend was Wednesday, May 28th. Wheaton Precious Metals’s payout ratio is currently 48.53%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on WPM shares. Royal Bank Of Canada increased their target price on 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. Scotiabank increased their price objective on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the company a “sector outperform” rating in a report on Monday, April 14th. BMO Capital Markets began coverage on shares of Wheaton Precious Metals in a research report on Wednesday, April 16th. They issued an “outperform” rating and a $129.00 target price on the stock. Raymond James Financial boosted their target price on shares of 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, Wall Street Zen raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus 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.