Northwestern Mutual Wealth Management Co. Sells 60,396 Shares of Wheaton Precious Metals Corp. $WPM

Northwestern Mutual Wealth Management Co. trimmed its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 70.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 25,253 shares of the company’s stock after selling 60,396 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Wheaton Precious Metals were worth $2,836,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of WPM. Van ECK Associates Corp grew its position in Wheaton Precious Metals by 10.7% in the 4th quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company’s stock valued at $1,700,517,000 after purchasing an additional 1,402,092 shares during the period. Capital International Investors grew its holdings in shares of Wheaton Precious Metals by 1.2% during the fourth quarter. Capital International Investors now owns 7,595,725 shares of the company’s stock valued at $892,650,000 after buying an additional 93,599 shares during the last quarter. Norges Bank acquired a new position in shares of Wheaton Precious Metals during the fourth quarter valued at about $864,977,000. TD Asset Management Inc lifted its position in Wheaton Precious Metals by 0.5% in the 4th quarter. TD Asset Management Inc now owns 7,285,275 shares of the company’s stock valued at $857,598,000 after acquiring an additional 33,221 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Wheaton Precious Metals by 9.4% during the 4th quarter. Bank of Montreal Can now owns 7,061,090 shares of the company’s stock valued at $830,134,000 after purchasing an additional 605,415 shares during the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Price Performance

Shares of NYSE:WPM opened at $154.94 on Friday. 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 has a market capitalization of $70.37 billion, a P/E ratio of 34.35, a price-to-earnings-growth ratio of 2.77 and a beta of 0.60. Wheaton Precious Metals Corp. has a fifty-two week low of $92.57 and a fifty-two week high of $165.76. The company’s 50-day moving average is $126.18 and its 200 day moving average is $131.54.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The business had revenue of $878.00 million for the quarter, compared to analyst estimates of $879.29 million. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%.The company’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 EPS. On average, equities research analysts forecast that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, August 20th. Wheaton Precious Metals’s payout ratio is currently 17.29%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Royal Bank Of Canada dropped their target price on Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Berenberg Bank set a $157.00 price target on Wheaton Precious Metals in a research report on Tuesday, July 28th. Wall Street Zen cut Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Bank of America cut their price objective on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Finally, Scotiabank lowered their target price on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and an average price target of $165.55.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.