Confluence Investment Management LLC Has $956,000 Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Confluence Investment Management LLC lessened its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 2.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,320 shares of the company’s stock after selling 336 shares during the period. Confluence Investment Management LLC’s holdings in Wheaton Precious Metals were worth $956,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of WPM. Promus Capital LLC acquired a new stake in Wheaton Precious Metals in the 4th quarter valued at about $32,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Wheaton Precious Metals in the fourth quarter valued at approximately $38,000. Quintet Private Bank Europe S.A. bought a new stake in Wheaton Precious Metals in the fourth quarter valued at approximately $39,000. Headlands Technologies LLC lifted its position in shares of Wheaton Precious Metals by 494.9% in the fourth quarter. Headlands Technologies LLC now owns 696 shares of the company’s stock valued at $39,000 after buying an additional 579 shares during the last quarter. Finally, Flagship Wealth Advisors LLC bought a new position in shares of Wheaton Precious Metals during the 4th quarter worth approximately $41,000. Institutional investors own 70.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WPM shares. Stifel Canada upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Royal Bank of Canada increased their price objective on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company a “sector perform” rating in a research report on Friday, April 4th. BMO Capital Markets started coverage on shares of Wheaton Precious Metals in a research note on Wednesday, April 16th. They set an “outperform” rating and a $129.00 target price for the company. CIBC upped their price target 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, May 9th. Finally, Scotiabank increased their price target 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. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wheaton Precious Metals has a consensus rating of “Buy” and an average price target of $85.90.

Wheaton Precious Metals Stock Down 0.0%

Shares of NYSE:WPM opened at $86.14 on Friday. Wheaton Precious Metals Corp. has a 12-month low of $51.96 and a 12-month high of $87.42. The company’s 50 day moving average price is $80.55 and its two-hundred day moving average price is $69.38. The firm has a market cap of $39.09 billion, a PE ratio of 64.29, a PEG ratio of 1.91 and a beta of 0.49.

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

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th will be given 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 currently 48.53%.

Wheaton Precious Metals Company 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.