International Assets Investment Management LLC Sells 1,103 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

International Assets Investment Management LLC lessened its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 16.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,505 shares of the company’s stock after selling 1,103 shares during the period. International Assets Investment Management LLC’s holdings in Wheaton Precious Metals were worth $263,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fielder Capital Group LLC bought a new position in shares of Wheaton Precious Metals in the 4th quarter worth approximately $1,046,000. King Luther Capital Management Corp bought a new stake in Wheaton Precious Metals during the 4th quarter worth approximately $6,154,000. Marketfield Asset Management LLC raised its stake in Wheaton Precious Metals by 61.0% during the 4th quarter. Marketfield Asset Management LLC now owns 88,025 shares of the company’s stock worth $4,343,000 after acquiring an additional 33,337 shares during the period. Alberta Investment Management Corp raised its stake in Wheaton Precious Metals by 0.8% during the 4th quarter. Alberta Investment Management Corp now owns 957,947 shares of the company’s stock worth $47,491,000 after acquiring an additional 7,610 shares during the period. Finally, FIL Ltd raised its stake in Wheaton Precious Metals by 5.5% during the 4th quarter. FIL Ltd now owns 10,646,479 shares of the company’s stock worth $525,235,000 after acquiring an additional 550,804 shares during the period. Institutional investors own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on WPM shares. Jefferies Financial Group raised their target price on shares of Wheaton Precious Metals from $52.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Scotiabank raised their target price on shares of Wheaton Precious Metals from $59.00 to $66.50 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. CIBC raised their target price on shares of Wheaton Precious Metals from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 22nd. TD Securities raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating and increased their price objective for the company from $51.00 to $53.00 in a report on Monday, March 18th. Finally, Berenberg Bank increased their price objective on shares of Wheaton Precious Metals from $54.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $61.33.

Wheaton Precious Metals Stock Performance

WPM stock opened at $53.29 on Wednesday. The firm has a fifty day moving average price of $54.23 and a 200 day moving average price of $49.30. Wheaton Precious Metals Corp. has a fifty-two week low of $38.37 and a fifty-two week high of $57.87. The firm has a market cap of $24.17 billion, a PE ratio of 40.99, a price-to-earnings-growth ratio of 1.93 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, May 9th. The company reported $0.36 earnings per share for the quarter, beating 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 firm had revenue of $296.80 million during the quarter, compared to analyst estimates of $278.95 million. During the same period last year, the firm posted $0.23 earnings per share. Wheaton Precious Metals’s revenue for the quarter was up 38.7% compared to the same quarter last year. On average, equities analysts predict that Wheaton Precious Metals Corp. will post 1.28 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Wednesday, May 29th were given a $0.155 dividend. The ex-dividend date was Wednesday, May 29th. This represents a $0.62 dividend on an annualized basis and a yield of 1.16%. Wheaton Precious Metals’s dividend payout ratio is presently 47.69%.

About Wheaton Precious Metals

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.