Newbridge Financial Services Group Inc. Sells 455 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Newbridge Financial Services Group Inc. decreased its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 38.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 723 shares of the company’s stock after selling 455 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Wheaton Precious Metals were worth $36,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Hexagon Capital Partners LLC increased its holdings in shares of Wheaton Precious Metals by 30.8% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,159 shares of the company’s stock valued at $57,000 after acquiring an additional 273 shares in the last quarter. NEOS Investment Management LLC increased its holdings in shares of Wheaton Precious Metals by 5.0% during the fourth quarter. NEOS Investment Management LLC now owns 6,363 shares of the company’s stock valued at $314,000 after acquiring an additional 303 shares in the last quarter. Syon Capital LLC increased its holdings in shares of Wheaton Precious Metals by 4.9% during the fourth quarter. Syon Capital LLC now owns 6,575 shares of the company’s stock valued at $324,000 after acquiring an additional 308 shares in the last quarter. West Family Investments Inc. increased its holdings in shares of Wheaton Precious Metals by 0.7% during the fourth quarter. West Family Investments Inc. now owns 43,849 shares of the company’s stock valued at $2,164,000 after acquiring an additional 316 shares in the last quarter. Finally, Rathbones Group PLC increased its holdings in shares of Wheaton Precious Metals by 1.9% during the fourth quarter. Rathbones Group PLC now owns 17,445 shares of the company’s stock valued at $868,000 after acquiring an additional 327 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Analysts Set New Price Targets

WPM has been the topic of several research reports. Scotiabank increased their price target on shares of Wheaton Precious Metals from $59.00 to $66.50 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. Raymond James cut their price target on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating on the stock in a report on Thursday, February 22nd. Berenberg Bank increased their price target on shares of Wheaton Precious Metals from $54.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Jefferies Financial Group increased their price target on shares of Wheaton Precious Metals from $52.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Finally, BMO Capital Markets increased their price target on shares of Wheaton Precious Metals from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.33.

Wheaton Precious Metals Price Performance

Shares of NYSE WPM opened at $52.68 on Wednesday. The stock has a market capitalization of $23.88 billion, a price-to-earnings ratio of 40.52, a PEG ratio of 1.90 and a beta of 0.78. Wheaton Precious Metals Corp. has a 12 month low of $38.37 and a 12 month high of $57.87. The firm’s 50 day simple moving average is $54.07 and its 200-day simple moving average is $49.12.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. Wheaton Precious Metals had a net margin of 53.74% and a return on equity of 8.53%. The business had revenue of $296.80 million for the quarter, compared to analysts’ expectations of $278.95 million. During the same quarter last year, the company earned $0.23 EPS. The business’s revenue was up 38.7% on a year-over-year basis. Analysts anticipate that Wheaton Precious Metals Corp. will post 1.29 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.18%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 47.69%.

Wheaton Precious Metals Company 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.