PFG Investments LLC Sells 969 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

PFG Investments LLC decreased its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 4.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,364 shares of the company’s stock after selling 969 shares during the period. PFG Investments LLC’s holdings in Wheaton Precious Metals were worth $1,225,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in WPM. First Eagle Investment Management LLC lifted its stake 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 buying an additional 292,968 shares during the period. Van ECK Associates Corp lifted its stake 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 buying an additional 197,426 shares during the period. Vanguard Group Inc. lifted its stake 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 buying an additional 272,918 shares during the period. FIL Ltd lifted its stake 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 buying 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 about $387,481,000. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Up 1.0 %

Shares of WPM opened at $58.56 on Tuesday. Wheaton Precious Metals Corp. has a twelve month low of $38.37 and a twelve month high of $63.06. The stock has a market capitalization of $26.57 billion, a P/E ratio of 45.05, a P/E/G ratio of 2.13 and a beta of 0.78. The company has a 50 day moving average of $58.81 and a 200-day moving average of $53.57.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $299.06 million during the quarter, compared to the consensus estimate of $309.54 million. During the same quarter last year, the firm earned $0.31 earnings per share. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 1.4 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio is currently 47.69%.

Analyst Upgrades and Downgrades

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

Wheaton Precious Metals Company 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.