Hexagon Capital Partners LLC Has $43,000 Stake in Wheaton Precious Metals Corp. (NYSE:WPM)

Hexagon Capital Partners LLC reduced its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 21.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 916 shares of the company’s stock after selling 243 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Wheaton Precious Metals were worth $43,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in WPM. CVA Family Office LLC bought a new position in Wheaton Precious Metals in the fourth quarter valued at approximately $26,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Wheaton Precious Metals in the 4th quarter valued at $31,000. Principal Securities Inc. acquired a new position in shares of Wheaton Precious Metals during the 4th quarter worth $39,000. Fifth Third Bancorp lifted its position in shares of Wheaton Precious Metals by 230.7% during the 4th quarter. Fifth Third Bancorp now owns 863 shares of the company’s stock worth $43,000 after buying an additional 602 shares during the last quarter. Finally, St. Johns Investment Management Company LLC acquired a new stake in Wheaton Precious Metals in the first quarter valued at about $52,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on WPM shares. Berenberg Bank increased their target price on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. 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 research note on Monday, March 18th. BMO Capital Markets boosted their target price 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. Jefferies Financial Group increased their price target on Wheaton Precious Metals from $52.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Finally, CIBC boosted their price objective on Wheaton Precious Metals from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.50.

Wheaton Precious Metals Stock Performance

NYSE:WPM opened at $52.04 on Tuesday. Wheaton Precious Metals Corp. has a 52 week low of $38.37 and a 52 week high of $57.87. The firm’s fifty day moving average is $54.24 and its 200-day moving average is $49.43. The firm has a market cap of $23.60 billion, a P/E ratio of 40.03, a P/E/G ratio of 1.83 and a beta of 0.76.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.36 EPS 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 business had revenue of $296.80 million for the quarter, compared to analysts’ expectations of $278.95 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. The business’s quarterly revenue was up 38.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 1.29 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th were issued a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $0.62 dividend on an annualized basis and a yield of 1.19%. Wheaton Precious Metals’s payout ratio is currently 47.69%.

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.