Stack Financial Management Inc Reduces Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Stack Financial Management Inc cut its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 1.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 368,213 shares of the company’s stock after selling 6,603 shares during the quarter. Wheaton Precious Metals comprises approximately 2.1% of Stack Financial Management Inc’s holdings, making the stock its 22nd biggest position. Stack Financial Management Inc’s holdings in Wheaton Precious Metals were worth $18,168,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of Wheaton Precious Metals by 10.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,585,266 shares of the company’s stock worth $307,583,000 after buying an additional 713,381 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of Wheaton Precious Metals by 3.2% in the third quarter. First Eagle Investment Management LLC now owns 20,998,263 shares of the company’s stock worth $851,480,000 after buying an additional 644,746 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Wheaton Precious Metals by 18.3% in the third quarter. Mackenzie Financial Corp now owns 3,411,151 shares of the company’s stock worth $133,849,000 after buying an additional 527,358 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Wheaton Precious Metals by 22.1% in the third quarter. JPMorgan Chase & Co. now owns 2,586,800 shares of the company’s stock valued at $104,895,000 after purchasing an additional 468,782 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in Wheaton Precious Metals by 4,659.7% in the fourth quarter. International Assets Investment Management LLC now owns 326,040 shares of the company’s stock valued at $16,087,000 after purchasing an additional 319,190 shares in the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Up 0.5 %

Shares of NYSE WPM traded up $0.27 on Friday, reaching $54.00. 497,935 shares of the company’s stock traded hands, compared to its average volume of 2,130,884. Wheaton Precious Metals Corp. has a 12 month low of $38.37 and a 12 month high of $54.45. The business’s 50 day simple moving average is $46.35 and its two-hundred day simple moving average is $46.28. The company has a market cap of $24.48 billion, a price-to-earnings ratio of 45.15, a price-to-earnings-growth ratio of 7.37 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Thursday, March 14th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. Wheaton Precious Metals had a net margin of 52.92% and a return on equity of 7.76%. The business had revenue of $313.47 million during the quarter, compared to the consensus estimate of $284.29 million. Analysts forecast that Wheaton Precious Metals Corp. will post 1.21 earnings per share for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Wednesday, April 3rd were issued a dividend of $0.155 per share. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, April 2nd. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.15%. Wheaton Precious Metals’s dividend payout ratio is presently 52.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets lowered their target price on shares of Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. National Bank Financial lowered shares of Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, February 21st. CIBC upped their price target on shares of Wheaton Precious Metals from $66.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Raymond James lowered their price objective on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating for the company in a research note on Thursday, February 22nd. Finally, Jefferies Financial Group upped their price objective on shares of Wheaton Precious Metals from $52.00 to $61.00 and gave the company a “buy” rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.32.

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.