Meixler Investment Management Ltd. Decreases Holdings in Wheaton Precious Metals Corp. $WPM

Meixler Investment Management Ltd. trimmed its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 9.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,272 shares of the company’s stock after selling 729 shares during the quarter. Meixler Investment Management Ltd.’s holdings in Wheaton Precious Metals were worth $653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Cerity Partners LLC increased its holdings in Wheaton Precious Metals by 5.5% in the 1st quarter. Cerity Partners LLC now owns 20,271 shares of the company’s stock valued at $1,574,000 after acquiring an additional 1,058 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Wheaton Precious Metals by 37.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,109 shares of the company’s stock valued at $630,000 after purchasing an additional 2,208 shares in the last quarter. B.O.S.S. Retirement Advisors LLC bought a new stake in shares of Wheaton Precious Metals in the second quarter worth about $218,000. Voya Investment Management LLC lifted its position in shares of Wheaton Precious Metals by 18.0% in the first quarter. Voya Investment Management LLC now owns 747,477 shares of the company’s stock worth $58,026,000 after buying an additional 113,835 shares in the last quarter. Finally, LGT Fund Management Co Ltd. bought a new position in Wheaton Precious Metals during the second quarter valued at approximately $225,000. 70.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on WPM shares. Berenberg Bank raised their price target on Wheaton Precious Metals from $102.00 to $108.00 and gave the company a “buy” rating in a report on Friday, September 12th. Wall Street Zen upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Monday, September 8th. UBS Group raised their target price on shares of Wheaton Precious Metals from $118.00 to $122.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Raymond James Financial upped their price target 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, October 10th. Finally, Scotiabank reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $119.00.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock opened at $96.61 on Friday. The firm has a market capitalization of $43.86 billion, a P/E ratio of 55.84, a price-to-earnings-growth ratio of 1.67 and a beta of 0.41. Wheaton Precious Metals Corp. has a 1-year low of $55.47 and a 1-year high of $114.36. The company’s 50-day moving average is $104.08 and its 200 day moving average is $94.18.

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

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, August 21st. Wheaton Precious Metals’s dividend payout ratio is 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.