Te Ahumairangi Investment Management Ltd Sells 660 Shares of Wheaton Precious Metals Corp. $WPM

Te Ahumairangi Investment Management Ltd trimmed its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 1.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,379 shares of the company’s stock after selling 660 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in Wheaton Precious Metals were worth $4,162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Wheaton Precious Metals by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 18,554,651 shares of the company’s stock valued at $1,668,582,000 after purchasing an additional 557,793 shares during the period. Bank of Montreal Can boosted its stake in shares of Wheaton Precious Metals by 10.3% in the 2nd quarter. Bank of Montreal Can now owns 5,120,087 shares of the company’s stock valued at $460,736,000 after purchasing an additional 478,236 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Wheaton Precious Metals by 10.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,072,786 shares of the company’s stock worth $393,800,000 after buying an additional 470,651 shares during the period. Geode Capital Management LLC increased its position in shares of Wheaton Precious Metals by 20.5% during the second quarter. Geode Capital Management LLC now owns 3,653,717 shares of the company’s stock worth $332,793,000 after buying an additional 622,003 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Wheaton Precious Metals by 5.0% during the first quarter. JPMorgan Chase & Co. now owns 3,060,056 shares of the company’s stock worth $237,552,000 after buying an additional 144,782 shares during the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research report on Thursday, October 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Wednesday, November 19th. Bank of America upped their target price on Wheaton Precious Metals from $127.00 to $132.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Wall Street Zen upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Monday, September 8th. Finally, Berenberg Bank boosted their price target on Wheaton Precious Metals from $102.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Buy” and a consensus price target of $124.50.

Wheaton Precious Metals Price Performance

Shares of WPM opened at $102.48 on Wednesday. Wheaton Precious Metals Corp. has a one year low of $55.47 and a one year high of $114.36. The company has a market cap of $46.53 billion, a PE ratio of 59.24, a P/E/G ratio of 1.67 and a beta of 0.38. The stock has a 50-day moving average of $103.67 and a 200-day moving average of $96.40.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The business had revenue of $476.26 million for the quarter, compared to the consensus estimate of $495.53 million. During the same period in the prior year, the business earned $0.34 EPS. The firm’s revenue for the quarter was up 54.5% on a year-over-year basis. Analysts expect that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 20th will be given a $0.165 dividend. The ex-dividend date of this dividend is Thursday, November 20th. This represents a $0.66 annualized dividend and a yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 30.00%.

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.