Wheaton Precious Metals Corp. $WPM Shares Sold by Royal Bank of Canada

Royal Bank of Canada trimmed its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 15.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,610,738 shares of the company’s stock after selling 1,557,346 shares during the period. Royal Bank of Canada owned approximately 1.90% of Wheaton Precious Metals worth $1,011,933,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. lifted its stake in Wheaton Precious Metals by 144.4% during the 4th quarter. Assetmark Inc. now owns 220 shares of the company’s stock valued at $26,000 after acquiring an additional 130 shares during the period. Harvest Fund Management Co. Ltd lifted its stake in Wheaton Precious Metals by 100.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after acquiring an additional 117 shares during the period. Cary Street Partners Investment Advisory LLC acquired a new stake in Wheaton Precious Metals during the 4th quarter valued at approximately $28,000. Navalign LLC acquired a new stake in Wheaton Precious Metals during the 4th quarter valued at approximately $30,000. Finally, Eagle Bay Advisors LLC acquired a new stake in Wheaton Precious Metals during the 4th quarter valued at approximately $32,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Performance

NYSE:WPM opened at $128.46 on Wednesday. The company has a fifty day moving average of $132.43 and a two-hundred day moving average of $132.24. The stock has a market capitalization of $58.34 billion, a PE ratio of 32.44, a P/E/G ratio of 2.34 and a beta of 0.51. Wheaton Precious Metals Corp. has a fifty-two week low of $85.59 and a fifty-two week high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. The company had revenue of $901.47 million during the quarter, compared to analysts’ expectations of $868.35 million. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The firm’s revenue for the quarter was up 91.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 earnings per share. Research analysts forecast that Wheaton Precious Metals Corp. will post 4.98 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were given a dividend of $0.195 per share. The ex-dividend date was Wednesday, May 27th. This represents a $0.78 dividend on an annualized basis and a yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio is currently 19.70%.

Analyst Ratings Changes

WPM has been the subject of several research reports. Scotiabank lifted their price objective on shares of Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. UBS Group upgraded shares of Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 target price for the company in a research note on Friday, March 27th. BMO Capital Markets started coverage on shares of Wheaton Precious Metals in a research note on Thursday, April 9th. They issued an “outperform” rating and a $240.00 target price for the company. Wall Street Zen cut shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Zacks Research cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Thirteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and an average price target of $155.64.

Wheaton Precious Metals Profile

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.