Generali Asset Management SPA SGR Sells 9,006 Shares of Wheaton Precious Metals Corp. $WPM

Generali Asset Management SPA SGR decreased its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 2.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 309,244 shares of the company’s stock after selling 9,006 shares during the quarter. Wheaton Precious Metals makes up 0.7% of Generali Asset Management SPA SGR’s portfolio, making the stock its 26th largest position. Generali Asset Management SPA SGR owned 0.07% of Wheaton Precious Metals worth $41,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of Wheaton Precious Metals during the second quarter worth approximately $581,250,000. Canada Pension Plan Investment Board bought a new stake in shares of Wheaton Precious Metals during the second quarter valued at approximately $351,708,000. Bank of America Corp DE purchased a new stake in shares of Wheaton Precious Metals in the second quarter valued at approximately $328,309,000. Legal & General Group Plc purchased a new stake in shares of Wheaton Precious Metals in the second quarter valued at approximately $320,838,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Wheaton Precious Metals in the second quarter valued at approximately $310,738,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Trading Up 3.0%

Shares of Wheaton Precious Metals stock opened at $125.99 on Wednesday. The firm’s 50-day moving average is $143.05 and its two-hundred day moving average is $133.98. Wheaton Precious Metals Corp. has a 1 year low of $92.57 and a 1 year high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.15 by $0.04. The business had revenue of $878.00 million during the quarter, compared to the consensus estimate of $879.29 million. During the same quarter in the prior year, the firm posted $0.63 EPS. The company’s revenue for the quarter was up 84.7% compared to the same quarter last year. Equities analysts expect that Wheaton Precious Metals Corp. will post 4.61 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were paid a $0.1950 dividend. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.78 dividend on an annualized basis and a yield of 0.6%.

Analysts Set New Price Targets

Several research firms have commented on WPM. Scotiabank reduced their price objective on Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. Weiss Ratings lowered Wheaton Precious Metals from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday. Bank of America lowered their target price on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, July 9th. UBS Group increased their price target on Wheaton Precious Metals from $153.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, October 8th. Finally, Berenberg Bank set a $157.00 price target on Wheaton Precious Metals in a research report on Tuesday, July 28th. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and an average target price of $172.11.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. is a precious metals streaming company headquartered in Vancouver, British Columbia. Rather than operating mines directly, the company provides upfront financing to mining companies in exchange for the right to purchase a portion of the gold, silver, palladium and cobalt produced by specific mining operations at predetermined prices.

Wheaton sells the streamed metals to customers and uses the proceeds to support its operations and investments. Its portfolio is linked to mining assets operated by third parties, with exposure to projects in the Americas and other regions.