Allspring Global Investments Holdings LLC Cuts Holdings in Wheaton Precious Metals Corp. $WPM

Allspring Global Investments Holdings LLC reduced its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 2.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 302,350 shares of the company’s stock after selling 6,700 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Wheaton Precious Metals were worth $27,154,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Bulwark Capital Corp purchased a new position in shares of Wheaton Precious Metals in the 2nd quarter worth $27,000. NBT Bank N A NY raised its position in shares of Wheaton Precious Metals by 129.3% in the 1st quarter. NBT Bank N A NY now owns 415 shares of the company’s stock worth $32,000 after buying an additional 234 shares during the period. Wealth Preservation Advisors LLC purchased a new position in shares of Wheaton Precious Metals in the 1st quarter worth $38,000. Banque Cantonale Vaudoise purchased a new position in shares of Wheaton Precious Metals in the 1st quarter worth $49,000. Finally, Penserra Capital Management LLC raised its position in shares of Wheaton Precious Metals by 1,812.8% in the 1st quarter. Penserra Capital Management LLC now owns 746 shares of the company’s stock worth $57,000 after buying an additional 707 shares during the period. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Price Performance

Shares of Wheaton Precious Metals stock opened at $113.46 on Friday. The business has a 50-day moving average of $103.41 and a 200-day moving average of $92.27. The company has a market capitalization of $51.51 billion, a PE ratio of 65.58, a P/E/G ratio of 2.94 and a beta of 0.41. Wheaton Precious Metals Corp. has a 1-year low of $55.47 and a 1-year high of $114.36.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. The company had revenue of $503.22 million during the quarter, compared to the consensus estimate of $424.23 million. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The company’s revenue was up 68.2% on a year-over-year basis. During the same period last year, the firm earned $0.33 earnings per share. On average, equities analysts expect 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. Stockholders of record on Thursday, August 21st were paid a dividend of $0.165 per share. The ex-dividend date was Thursday, August 21st. This represents a $0.66 annualized dividend and a dividend yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 38.15%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on WPM shares. CIBC increased their target price on Wheaton Precious Metals from $135.00 to $160.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. BMO Capital Markets reiterated an “outperform” rating on shares of Wheaton Precious Metals in a report on Friday, August 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Wheaton Precious Metals in a report on Wednesday, October 8th. Scotiabank increased their price target on Wheaton Precious Metals from $108.00 to $109.00 and gave the company a “sector perform” rating in a report on Tuesday, August 12th. Finally, Bank of America increased their price target on Wheaton Precious Metals from $127.00 to $132.00 and gave the company a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and a consensus target price of $116.89.

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.