IHT Wealth Management LLC Cuts Position in Wheaton Precious Metals Corp. (NYSE:WPM)

IHT Wealth Management LLC lowered its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 2.9% during the third quarter, Holdings Channel reports. The institutional investor owned 22,069 shares of the company’s stock after selling 658 shares during the period. IHT Wealth Management LLC’s holdings in Wheaton Precious Metals were worth $1,348,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Ridgewood Investments LLC purchased a new stake in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $31,000. Abich Financial Wealth Management LLC acquired a new position in Wheaton Precious Metals during the second quarter worth $31,000. St. Johns Investment Management Company LLC purchased a new stake in Wheaton Precious Metals during the third quarter worth $48,000. Sunbelt Securities Inc. acquired a new stake in Wheaton Precious Metals in the second quarter valued at $47,000. Finally, First Horizon Advisors Inc. purchased a new position in shares of Wheaton Precious Metals in the third quarter valued at $67,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on WPM shares. Raymond James upped their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 25th. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Stifel Canada cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Jefferies Financial Group upped their price objective on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Finally, TD Securities lifted their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and a consensus target price of $71.67.

Wheaton Precious Metals Price Performance

NYSE WPM opened at $62.95 on Friday. The company has a 50-day moving average of $62.92 and a 200-day moving average of $59.56. Wheaton Precious Metals Corp. has a 12 month low of $38.57 and a 12 month high of $68.64. The company has a market cap of $28.56 billion, a P/E ratio of 46.98, a P/E/G ratio of 1.77 and a beta of 0.75.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The company had revenue of $308.25 million for the quarter, compared to the consensus estimate of $324.57 million. During the same quarter last year, the firm posted $0.27 earnings per share. As a group, equities research analysts anticipate that Wheaton Precious Metals Corp. will post 1.44 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 46.27%.

About Wheaton Precious Metals

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.