Kingswood Wealth Advisors LLC Reduces Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Kingswood Wealth Advisors LLC lowered its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 26.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,136 shares of the company’s stock after selling 2,605 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Wheaton Precious Metals were worth $336,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WPM. CVA Family Office LLC purchased a new stake in shares of Wheaton Precious Metals in the 4th quarter worth about $26,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Wheaton Precious Metals in the 4th quarter worth about $31,000. Principal Securities Inc. purchased a new stake in shares of Wheaton Precious Metals in the 4th quarter worth about $39,000. Fifth Third Bancorp lifted its position in shares of Wheaton Precious Metals by 230.7% in the 4th quarter. Fifth Third Bancorp now owns 863 shares of the company’s stock worth $43,000 after purchasing an additional 602 shares during the period. Finally, Western Pacific Wealth Management LP lifted its position in shares of Wheaton Precious Metals by 47.6% in the 4th quarter. Western Pacific Wealth Management LP now owns 1,113 shares of the company’s stock worth $55,000 after purchasing an additional 359 shares during the period. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on WPM shares. Bank of America increased their price target on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday. Berenberg Bank increased their price target on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday. 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 research note on Monday, April 22nd. TD Securities upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating and increased their price target for the stock from $51.00 to $53.00 in a research note on Monday, March 18th. 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 research note on Tuesday, May 21st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $61.50.

Wheaton Precious Metals Stock Down 1.1 %

Shares of WPM stock opened at $52.42 on Friday. The company has a 50 day moving average price of $54.23 and a 200-day moving average price of $49.38. Wheaton Precious Metals Corp. has a 52 week low of $38.37 and a 52 week high of $57.87. The firm has a market capitalization of $23.77 billion, a PE ratio of 40.32, a P/E/G ratio of 1.91 and a beta of 0.78.

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

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 1.18%. The ex-dividend date was Wednesday, May 29th. Wheaton Precious Metals’s dividend payout ratio is currently 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.