MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 274,684 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 5.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,602,135 shares of the company’s stock after selling 274,684 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 1.01% of Wheaton Precious Metals worth $258,824,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in WPM. Barclays PLC grew its holdings in shares of Wheaton Precious Metals by 9.9% during the third quarter. Barclays PLC now owns 315,914 shares of the company’s stock valued at $19,297,000 after buying an additional 28,485 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Wheaton Precious Metals during the fourth quarter valued at about $41,000. Trust Co. of Toledo NA OH grew its holdings in shares of Wheaton Precious Metals by 20.2% during the fourth quarter. Trust Co. of Toledo NA OH now owns 27,425 shares of the company’s stock valued at $1,542,000 after buying an additional 4,600 shares during the last quarter. Miracle Mile Advisors LLC acquired a new position in shares of Wheaton Precious Metals during the fourth quarter valued at about $773,000. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of Wheaton Precious Metals during the fourth quarter valued at about $39,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Scotiabank lifted their price objective on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the company a “sector outperform” rating in a report on Monday, April 14th. Stifel Canada upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. BMO Capital Markets began coverage on shares of Wheaton Precious Metals in a research note on Wednesday, April 16th. They issued an “outperform” rating and a $129.00 target price on the stock. UBS Group boosted their target price on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Finally, CIBC boosted their target price on shares of Wheaton Precious Metals from $95.00 to $105.00 and gave the company an “outperformer” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $85.90.

Wheaton Precious Metals Stock Performance

Shares of WPM stock opened at $85.76 on Monday. Wheaton Precious Metals Corp. has a 52-week low of $51.96 and a 52-week high of $87.42. The company has a market capitalization of $38.92 billion, a PE ratio of 64.00, a price-to-earnings-growth ratio of 1.91 and a beta of 0.49. The business’s fifty day moving average is $77.91 and its 200 day moving average is $67.74.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The company had revenue of $470.41 million for the quarter, compared to the consensus estimate of $446.33 million. During the same quarter last year, the business posted $0.36 earnings per share. The firm’s revenue was up 58.4% compared to the same quarter last year. On average, sell-side analysts forecast that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Wednesday, May 28th. Wheaton Precious Metals’s payout ratio is 56.90%.

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.