Sargent Bickham Lagudis LLC Trims Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Posted by on Apr 2nd, 2023

Sargent Bickham Lagudis LLC lessened its stake in Wheaton Precious Metals Corp. (NYSE:WPM – Get Rating) by 55.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 790 shares of the company’s stock after selling 990 shares during the period. Sargent Bickham Lagudis LLC’s holdings in Wheaton Precious Metals were worth $31,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in WPM. BlackRock Inc. grew its position in shares of Wheaton Precious Metals by 245.5% in the 1st quarter. BlackRock Inc. now owns 2,530,486 shares of the company’s stock worth $120,401,000 after buying an additional 1,798,086 shares during the last quarter. AMF Tjanstepension AB lifted its stake in Wheaton Precious Metals by 154.3% during the 3rd quarter. AMF Tjanstepension AB now owns 1,852,212 shares of the company’s stock valued at $60,319,000 after acquiring an additional 1,123,931 shares during the period. Balyasny Asset Management LLC acquired a new stake in Wheaton Precious Metals during the 3rd quarter valued at approximately $33,985,000. Renaissance Technologies LLC lifted its stake in Wheaton Precious Metals by 41.7% during the 1st quarter. Renaissance Technologies LLC now owns 2,787,718 shares of the company’s stock valued at $132,641,000 after acquiring an additional 821,061 shares during the period. Finally, Neuberger Berman Group LLC lifted its stake in Wheaton Precious Metals by 665.2% during the 1st quarter. Neuberger Berman Group LLC now owns 888,189 shares of the company’s stock valued at $42,304,000 after acquiring an additional 772,118 shares during the period. Hedge funds and other institutional investors own 57.01% of the company’s stock.

Wheaton Precious Metals Price Performance

NYSE WPM opened at $48.16 on Friday. The firm’s 50-day moving average is $43.77 and its two-hundred day moving average is $39.16. Wheaton Precious Metals Corp. has a 12 month low of $28.62 and a 12 month high of $51.90. The stock has a market capitalization of $21.78 billion, a P/E ratio of 32.54, a PEG ratio of 8.22 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM – Get Rating) last issued its quarterly earnings results on Friday, March 10th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). The business had revenue of $236.05 million for the quarter, compared to analyst estimates of $241.70 million. Wheaton Precious Metals had a return on equity of 7.76% and a net margin of 62.83%. The firm’s revenue for the quarter was down 15.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.29 EPS. As a group, analysts anticipate that Wheaton Precious Metals Corp. will post 1.17 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 6th. Investors of record on Friday, March 24th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, March 23rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.25%. Wheaton Precious Metals’s payout ratio is 40.54%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Wheaton Precious Metals in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Barclays boosted their target price on shares of Wheaton Precious Metals from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, January 30th. TD Securities decreased their target price on shares of Wheaton Precious Metals from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Wednesday, March 15th. National Bank Financial cut their price target on shares of Wheaton Precious Metals from C$70.00 to C$68.00 in a report on Tuesday, February 14th. Finally, Raymond James cut their price target on shares of Wheaton Precious Metals from C$52.00 to C$51.00 and set an “outperform” rating for the company in a report on Wednesday, February 22nd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.38.

About Wheaton Precious Metals

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Wheaton Precious Metals Corp. is a mining company engages in the sale of precious metals and cobalt production. It operates through the following business segments: Gold, Silver, Palladium, Cobalt, and Other. The company was founded by Peter Derek Barnes on December 17, 2004 and is headquartered in Vancouver, Canada.

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Institutional Ownership by Quarter for Wheaton Precious Metals (NYSE:WPM)

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