Wheaton Precious Metals Corp. (NYSE:WPM) Shares Sold by Raymond James & Associates

Raymond James & Associates cut its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 545,460 shares of the company’s stock after selling 4,194 shares during the period. Raymond James & Associates owned approximately 0.12% of Wheaton Precious Metals worth $33,317,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Ridgewood Investments LLC acquired a new stake in shares of Wheaton Precious Metals in the second quarter worth approximately $31,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Wheaton Precious Metals in the second quarter worth approximately $31,000. Sunbelt Securities Inc. acquired a new stake in shares of Wheaton Precious Metals in the second quarter worth approximately $47,000. St. Johns Investment Management Company LLC acquired a new stake in shares of Wheaton Precious Metals in the first quarter worth approximately $52,000. Finally, Western Pacific Wealth Management LP lifted its position 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 valued at $63,000 after buying an additional 218 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Trading Down 1.6 %

Shares of NYSE:WPM opened at $67.45 on Thursday. The company has a fifty day simple moving average of $61.69 and a 200 day simple moving average of $57.44. The firm has a market cap of $30.60 billion, a PE ratio of 53.53, a price-to-earnings-growth ratio of 2.45 and a beta of 0.78. Wheaton Precious Metals Corp. has a 12-month low of $38.57 and a 12-month high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $299.06 million during the quarter, compared to analyst estimates of $309.54 million. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The business’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 earnings per share. As a group, equities research analysts forecast that Wheaton Precious Metals Corp. will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were paid a dividend of $0.155 per share. The ex-dividend date was Wednesday, August 21st. This represents a $0.62 annualized dividend and a yield of 0.92%. Wheaton Precious Metals’s payout ratio is 49.21%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WPM shares. CIBC lifted their price target on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Berenberg Bank lifted their price target on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Jefferies Financial Group lifted their price target on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Finally, Raymond James lifted their price target on shares of Wheaton Precious Metals from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, September 25th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and an average price target of $69.88.

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.