Equitable Trust Co. Decreases Stock Holdings in Wheaton Precious Metals Corp. $WPM

Equitable Trust Co. trimmed its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 1.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,476 shares of the company’s stock after selling 558 shares during the period. Equitable Trust Co.’s holdings in Wheaton Precious Metals were worth $3,725,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Cerity Partners LLC increased its holdings in Wheaton Precious Metals by 5.5% during the first quarter. Cerity Partners LLC now owns 20,271 shares of the company’s stock valued at $1,574,000 after buying an additional 1,058 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Wheaton Precious Metals by 37.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,109 shares of the company’s stock worth $630,000 after purchasing an additional 2,208 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Wheaton Precious Metals by 5.8% in the first quarter. Sequoia Financial Advisors LLC now owns 5,392 shares of the company’s stock worth $419,000 after purchasing an additional 297 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of Wheaton Precious Metals by 18.0% in the first quarter. Voya Investment Management LLC now owns 747,477 shares of the company’s stock worth $58,026,000 after purchasing an additional 113,835 shares in the last quarter. Finally, B.O.S.S. Retirement Advisors LLC purchased a new stake in shares of Wheaton Precious Metals in the second quarter worth $218,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Trading Up 3.4%

Wheaton Precious Metals stock opened at $109.07 on Tuesday. The firm has a 50-day moving average price of $102.70 and a 200-day moving average price of $91.78. The firm has a market capitalization of $49.51 billion, a PE ratio of 63.05, a price-to-earnings-growth ratio of 2.81 and a beta of 0.41. Wheaton Precious Metals Corp. has a 12-month low of $55.47 and a 12-month high of $114.00.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The company had revenue of $503.22 million during the quarter, compared to analyst estimates of $424.23 million. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The firm’s revenue for the quarter was up 68.2% on a year-over-year basis. During the same quarter last year, the business posted $0.33 EPS. As a group, sell-side analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.66 dividend on an annualized basis and a yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 38.15%.

Wall Street Analyst Weigh In

WPM has been the subject of a number of analyst reports. UBS Group increased their price objective on shares of Wheaton Precious Metals from $106.00 to $118.00 and gave the stock a “neutral” rating in a research note on Friday, September 19th. National Bankshares reissued an “outperform” rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. CIBC upped their target price on shares of Wheaton Precious Metals from $135.00 to $160.00 and gave the stock an “outperformer” rating in a research report on Friday. Berenberg Bank upped their target price on shares of Wheaton Precious Metals from $102.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Finally, Scotiabank upped their target price on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $114.50.

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.