NorthCoast Asset Management LLC decreased its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 79.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 7,230 shares of the company’s stock after selling 27,553 shares during the period. NorthCoast Asset Management LLC’s holdings in Wheaton Precious Metals were worth $355,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of WPM. tru Independence LLC bought a new stake in shares of Wheaton Precious Metals in the 2nd quarter worth approximately $31,000. NEXT Financial Group Inc bought a new stake in shares of Wheaton Precious Metals in the 3rd quarter worth approximately $44,000. Balentine LLC bought a new stake in shares of Wheaton Precious Metals in the 2nd quarter worth approximately $54,000. St. Johns Investment Management Company LLC bought a new stake in shares of Wheaton Precious Metals in the 2nd quarter worth approximately $79,000. Finally, Capstone Financial Group Inc. bought a new stake in shares of Wheaton Precious Metals in the 3rd quarter worth approximately $79,000. 59.45% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:WPM opened at $41.30 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.73 and a quick ratio of 2.73. The firm has a market capitalization of $18.54 billion, a price-to-earnings ratio of 52.28, a price-to-earnings-growth ratio of 8.78 and a beta of 0.55. Wheaton Precious Metals Corp. has a one year low of $18.66 and a one year high of $57.89. The business has a fifty day moving average price of $47.76 and a 200-day moving average price of $47.51.
Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Monday, November 9th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. Wheaton Precious Metals had a return on equity of 6.50% and a net margin of 37.30%. The business had revenue of $307.27 million during the quarter, compared to analyst estimates of $297.00 million. During the same quarter in the prior year, the business posted $0.16 EPS. Wheaton Precious Metals’s revenue for the quarter was up 37.4% compared to the same quarter last year. On average, equities research analysts expect that Wheaton Precious Metals Corp. will post 1.1 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 25th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Tuesday, November 24th. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.10. Wheaton Precious Metals’s dividend payout ratio is presently 71.43%.
A number of analysts have recently commented on the company. Scotiabank reissued a “sector outperform” rating and issued a $55.00 price target (up from $53.00) on shares of Wheaton Precious Metals in a research report on Thursday, August 13th. Raymond James set a $64.00 price objective on Wheaton Precious Metals and gave the company an “outperform” rating in a research report on Wednesday, November 11th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $50.00 price objective on shares of Wheaton Precious Metals in a research report on Thursday, August 20th. Zacks Investment Research raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating and set a $58.00 price objective on the stock in a research report on Tuesday, October 13th. Finally, Peel Hunt initiated coverage on Wheaton Precious Metals in a research report on Thursday, September 24th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $53.09.
About Wheaton Precious Metals
Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, and palladium ores. It has agreements for 20 operating mines and 9 development stage projects. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp.
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