Profund Advisors LLC Lowers Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Profund Advisors LLC cut its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 12.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,263 shares of the company’s stock after selling 5,002 shares during the period. Profund Advisors LLC’s holdings in Wheaton Precious Metals were worth $1,796,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in WPM. Ridgewood Investments LLC purchased a new stake in Wheaton Precious Metals during the second quarter worth $31,000. Principal Securities Inc. purchased a new stake in Wheaton Precious Metals during the fourth quarter worth $39,000. St. Johns Investment Management Company LLC purchased a new stake in Wheaton Precious Metals during the first quarter worth $52,000. Western Pacific Wealth Management LP boosted its holdings in Wheaton Precious Metals by 19.6% during the first quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock worth $63,000 after buying an additional 218 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in Wheaton Precious Metals by 25.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock worth $65,000 after buying an additional 253 shares in the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WPM has been the topic of several recent analyst reports. CIBC increased their price objective on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Bank of America increased their price objective on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. TD Securities decreased their price objective on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Jefferies Financial Group increased their price objective on shares of Wheaton Precious Metals from $62.00 to $67.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, Scotiabank increased their price objective on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.50.

Wheaton Precious Metals Trading Up 0.6 %

NYSE:WPM opened at $62.60 on Monday. The company’s 50-day moving average price is $59.73 and its 200-day moving average price is $54.85. The company has a market cap of $28.39 billion, a P/E ratio of 48.15, a P/E/G ratio of 2.29 and a beta of 0.78. Wheaton Precious Metals Corp. has a twelve month low of $38.37 and a twelve month high of $64.27.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The firm had revenue of $299.06 million during the quarter, compared to analysts’ expectations of $309.54 million. During the same period last year, the business earned $0.31 earnings per share. Wheaton Precious Metals’s revenue was up 12.9% compared to the same quarter last year. On average, analysts expect that Wheaton Precious Metals Corp. will post 1.4 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were given a dividend of $0.155 per share. 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%.

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.