Synergy Asset Management LLC Sells 8,708 Shares of Wheaton Precious Metals Corp. $WPM

Synergy Asset Management LLC lessened its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 67.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,254 shares of the company’s stock after selling 8,708 shares during the period. Synergy Asset Management LLC’s holdings in Wheaton Precious Metals were worth $500,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of WPM. Focus Financial Network Inc. lifted its position in shares of Wheaton Precious Metals by 2.5% in the fourth quarter. Focus Financial Network Inc. now owns 3,305 shares of the company’s stock valued at $388,000 after acquiring an additional 81 shares in the last quarter. Pacifica Partners Inc. grew its position in shares of Wheaton Precious Metals by 27.8% during the third quarter. Pacifica Partners Inc. now owns 460 shares of the company’s stock worth $51,000 after purchasing an additional 100 shares in the last quarter. Miracle Mile Advisors LLC grew its position in shares of Wheaton Precious Metals by 0.9% during the third quarter. Miracle Mile Advisors LLC now owns 12,872 shares of the company’s stock worth $1,440,000 after purchasing an additional 110 shares in the last quarter. AE Wealth Management LLC raised its stake in Wheaton Precious Metals by 2.1% during the 3rd quarter. AE Wealth Management LLC now owns 6,091 shares of the company’s stock valued at $681,000 after purchasing an additional 123 shares during the period. Finally, First Affirmative Financial Network raised its stake in Wheaton Precious Metals by 3.5% during the 3rd quarter. First Affirmative Financial Network now owns 3,976 shares of the company’s stock valued at $445,000 after purchasing an additional 133 shares during the period. 70.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday, December 29th. Royal Bank Of Canada upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $115.00 to $130.00 in a research report on Wednesday, December 10th. TD Cowen boosted their target price on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, March 16th. TD Securities upped their target price on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Finally, Scotiabank raised their target price on shares of Wheaton Precious Metals from $175.00 to $178.00 and gave the company a “sector outperform” rating in a research note on Monday, March 16th. Twelve research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $145.18.

Wheaton Precious Metals Trading Down 3.0%

NYSE:WPM opened at $118.97 on Friday. The business’s 50-day moving average is $142.44 and its 200 day moving average is $120.85. Wheaton Precious Metals Corp. has a 12 month low of $68.03 and a 12 month high of $165.76. The company has a market capitalization of $54.02 billion, a P/E ratio of 36.72, a P/E/G ratio of 1.76 and a beta of 0.50.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, March 12th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.31. Wheaton Precious Metals had a return on equity of 17.17% and a net margin of 63.58%.The business had revenue of $864.71 million during the quarter, compared to analysts’ expectations of $719.59 million. During the same quarter last year, the business posted $0.44 EPS. The firm’s revenue for the quarter was up 127.3% compared to the same quarter last year. On average, research analysts forecast that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.195 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.7%. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.17. Wheaton Precious Metals’s dividend payout ratio is currently 24.07%.

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.