Forsta AP Fonden Reduces Stake in Wheaton Precious Metals Corp. (NYSE:WPM)

Forsta AP Fonden lowered its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 7.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,200 shares of the company’s stock after selling 6,900 shares during the period. Forsta AP Fonden’s holdings in Wheaton Precious Metals were worth $4,833,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. First Eagle Investment Management LLC lifted its holdings in Wheaton Precious Metals by 1.4% in the first quarter. First Eagle Investment Management LLC now owns 21,403,409 shares of the company’s stock valued at $1,008,743,000 after acquiring an additional 292,968 shares during the period. Van ECK Associates Corp lifted its holdings in Wheaton Precious Metals by 1.0% in the second quarter. Van ECK Associates Corp now owns 19,984,984 shares of the company’s stock valued at $1,047,621,000 after acquiring an additional 197,426 shares during the period. Vanguard Group Inc. lifted its holdings in Wheaton Precious Metals by 1.7% in the first quarter. Vanguard Group Inc. now owns 16,770,475 shares of the company’s stock valued at $790,392,000 after acquiring an additional 272,918 shares during the period. FIL Ltd lifted its holdings in Wheaton Precious Metals by 5.5% in the fourth quarter. FIL Ltd now owns 10,646,479 shares of the company’s stock valued at $525,235,000 after acquiring an additional 550,804 shares during the period. Finally, Norges Bank acquired a new position in Wheaton Precious Metals in the fourth quarter valued at approximately $387,481,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

NYSE WPM opened at $62.56 on Friday. The business has a fifty day moving average price of $59.31 and a 200 day moving average price of $54.07. Wheaton Precious Metals Corp. has a one year low of $38.37 and a one year high of $63.13. The company has a market cap of $28.38 billion, a P/E ratio of 48.12, a P/E/G ratio of 2.18 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The firm had revenue of $299.06 million during the quarter, compared to the consensus estimate of $309.54 million. During the same period in the prior year, the company earned $0.31 EPS. The firm’s revenue was up 12.9% compared to the same quarter last year. As a group, sell-side analysts predict that Wheaton Precious Metals Corp. will post 1.4 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 0.99%. The ex-dividend date was Wednesday, August 21st. Wheaton Precious Metals’s payout ratio is currently 47.69%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Berenberg Bank boosted their price target on Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Scotiabank boosted their price target on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. TD Securities reduced their target price on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. CIBC upped their target price on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Finally, Jefferies Financial Group upped their target price on Wheaton Precious Metals from $62.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $67.50.

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.