Carnegie Capital Asset Management LLC Lowers Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Carnegie Capital Asset Management LLC cut its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 29.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,142 shares of the company’s stock after selling 3,405 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Wheaton Precious Metals were worth $402,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sprott Inc. lifted its position in shares of Wheaton Precious Metals by 4.8% in the third quarter. Sprott Inc. now owns 799,533 shares of the company’s stock valued at $32,421,000 after acquiring an additional 36,654 shares in the last quarter. Douglas Lane & Associates LLC lifted its position in shares of Wheaton Precious Metals by 31.4% in the fourth quarter. Douglas Lane & Associates LLC now owns 408,449 shares of the company’s stock valued at $20,153,000 after acquiring an additional 97,535 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Wheaton Precious Metals by 4.4% in the third quarter. Deutsche Bank AG now owns 3,623,133 shares of the company’s stock valued at $146,918,000 after acquiring an additional 152,826 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Wheaton Precious Metals by 98.8% in the third quarter. Wellington Management Group LLP now owns 71,667 shares of the company’s stock worth $2,922,000 after purchasing an additional 35,616 shares during the last quarter. Finally, CENTRAL TRUST Co increased its holdings in shares of Wheaton Precious Metals by 2,400.0% in the fourth quarter. CENTRAL TRUST Co now owns 1,250 shares of the company’s stock worth $62,000 after purchasing an additional 1,200 shares during the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

WPM opened at $52.67 on Thursday. The stock has a market cap of $23.87 billion, a price-to-earnings ratio of 44.26, a P/E/G ratio of 7.04 and a beta of 0.77. The stock’s 50 day moving average price is $45.58 and its 200-day moving average price is $45.82. Wheaton Precious Metals Corp. has a one year low of $38.37 and a one year high of $54.30.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, March 14th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. The firm had revenue of $313.47 million for the quarter, compared to analysts’ expectations of $284.29 million. Wheaton Precious Metals had a return on equity of 7.76% and a net margin of 52.92%. As a group, analysts predict that Wheaton Precious Metals Corp. will post 1.24 earnings per share for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Wednesday, April 3rd were paid a dividend of $0.155 per share. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, April 2nd. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.18%. Wheaton Precious Metals’s dividend payout ratio is currently 52.10%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WPM. National Bank Financial cut Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a report on Wednesday, February 21st. Scotiabank reduced their target price on Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating on the stock in a report on Wednesday, February 28th. Jefferies Financial Group began coverage on Wheaton Precious Metals in a report on Thursday, February 29th. They issued a “buy” rating and a $49.00 target price on the stock. Raymond James reduced their target price on Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating on the stock in a report on Thursday, February 22nd. Finally, BMO Capital Markets reduced their target price on Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating on the stock in a report on Wednesday, February 21st. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Wheaton Precious Metals has an average rating of “Moderate Buy” and an average target price of $59.63.

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 2017. Wheaton Precious Metals Corp.