International Assets Investment Management LLC decreased its holdings in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 73.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,766 shares of the company’s stock after selling 13,259 shares during the quarter. International Assets Investment Management LLC’s holdings in Wheaton Precious Metals were worth $230,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ronald Blue Trust Inc. lifted its stake in Wheaton Precious Metals by 56.5% in the first quarter. Ronald Blue Trust Inc. now owns 5,881 shares of the company’s stock worth $229,000 after acquiring an additional 2,123 shares during the period. Quadrant Capital Group LLC lifted its stake in Wheaton Precious Metals by 112.8% in the fourth quarter. Quadrant Capital Group LLC now owns 7,812 shares of the company’s stock worth $305,000 after acquiring an additional 4,141 shares during the period. Prospera Financial Services Inc purchased a new stake in Wheaton Precious Metals in the fourth quarter worth $591,000. Kerntke Otto McGlone Wealth Management Group lifted its stake in Wheaton Precious Metals by 1.5% in the fourth quarter. Kerntke Otto McGlone Wealth Management Group now owns 21,838 shares of the company’s stock worth $853,000 after acquiring an additional 323 shares during the period. Finally, Summit Global Investments lifted its stake in Wheaton Precious Metals by 198.6% in the fourth quarter. Summit Global Investments now owns 24,010 shares of the company’s stock worth $938,000 after acquiring an additional 15,969 shares during the period. Hedge funds and other institutional investors own 58.19% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have commented on WPM shares. National Bankshares raised their price objective on Wheaton Precious Metals from C$72.50 to C$80.00 and gave the company an “outperform” rating in a research report on Monday, May 8th. Royal Bank of Canada lowered Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$50.00 to C$45.00 in a research report on Tuesday, May 23rd. TD Securities raised their price objective on Wheaton Precious Metals from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Monday, May 8th. National Bank Financial raised their price objective on Wheaton Precious Metals to C$80.00 in a research report on Monday, May 8th. Finally, Barclays lowered their price objective on Wheaton Precious Metals from $43.00 to $42.00 in a research report on Friday, May 26th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $350.56.
Wheaton Precious Metals Stock Performance
Wheaton Precious Metals (NYSE:WPM – Free Report) last released its quarterly earnings data on Thursday, May 4th. The company reported $0.23 EPS for the quarter, hitting the consensus estimate of $0.23. Wheaton Precious Metals had a return on equity of 6.81% and a net margin of 64.08%. The company had revenue of $214.00 million during the quarter, compared to the consensus estimate of $237.87 million. During the same period last year, the company earned $0.35 EPS. Wheaton Precious Metals’s revenue for the quarter was down 30.3% on a year-over-year basis. On average, equities analysts predict that Wheaton Precious Metals Corp. will post 1.18 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 Friday, June 2nd. Investors of record on Friday, May 19th were issued a $0.15 dividend. The ex-dividend date was Thursday, May 18th. This represents a $0.60 annualized dividend and a yield of 1.36%. Wheaton Precious Metals’s payout ratio is 43.48%.
Wheaton Precious Metals Profile
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 10, 2017. Wheaton Precious Metals Corp.
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