WNY Asset Management LLC Decreases Stake in Wheaton Precious Metals Corp. $WPM

WNY Asset Management LLC reduced its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 14.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,823 shares of the company’s stock after selling 950 shares during the quarter. WNY Asset Management LLC’s holdings in Wheaton Precious Metals were worth $523,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bulwark Capital Corp purchased a new position in shares of Wheaton Precious Metals in the 2nd quarter valued at approximately $27,000. Wealth Preservation Advisors LLC purchased a new position in shares of Wheaton Precious Metals in the 1st quarter valued at approximately $38,000. City State Bank raised its position in shares of Wheaton Precious Metals by 40.0% in the 2nd quarter. City State Bank now owns 560 shares of the company’s stock valued at $50,000 after purchasing an additional 160 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Wheaton Precious Metals in the 1st quarter valued at approximately $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 valued at $57,000 after purchasing an additional 707 shares during the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WPM has been the subject of a number of recent research reports. CIBC raised their price target 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, October 10th. Wall Street Zen raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Monday, September 8th. Raymond James Financial raised their price target on shares of Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. UBS Group raised their price target on shares of Wheaton Precious Metals from $118.00 to $122.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Finally, Bank of America raised their price target on shares of Wheaton Precious Metals from $127.00 to $132.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and an average target price of $119.00.

Wheaton Precious Metals Price Performance

Shares of NYSE WPM opened at $95.32 on Wednesday. The stock has a market capitalization of $43.27 billion, a price-to-earnings ratio of 55.10, a PEG ratio of 1.66 and a beta of 0.41. Wheaton Precious Metals Corp. has a 12 month low of $55.47 and a 12 month high of $114.36. The firm’s 50 day simple moving average is $103.95 and its 200-day simple moving average is $93.88.

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

Wheaton Precious Metals Announces Dividend

The company also recently disclosed 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 of this dividend was Thursday, August 21st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 38.15%.

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.