Sargent Investment Group LLC Cuts Stake in Wheaton Precious Metals Corp. (NYSE:WPM)

Sargent Investment Group LLC decreased its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 28.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 15,202 shares of the company’s stock after selling 6,100 shares during the period. Sargent Investment Group LLC’s holdings in Wheaton Precious Metals were worth $929,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Ridgewood Investments LLC bought a new position in shares of Wheaton Precious Metals during the second quarter valued at approximately $31,000. Abich Financial Wealth Management LLC bought a new stake in Wheaton Precious Metals in the second quarter worth $31,000. St. Johns Investment Management Company LLC purchased a new stake in shares of Wheaton Precious Metals in the third quarter worth $48,000. Sunbelt Securities Inc. purchased a new stake in Wheaton Precious Metals during the 2nd quarter valued at about $47,000. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Wheaton Precious Metals by 25.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock worth $65,000 after acquiring an additional 253 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Jefferies Financial Group increased their price target on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Raymond James increased their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Scotiabank lifted their target price on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Finally, TD Securities lifted their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 8th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.88.

Wheaton Precious Metals Price Performance

NYSE:WPM traded up $0.22 during mid-day trading on Thursday, reaching $59.26. The company’s stock had a trading volume of 560,362 shares, compared to its average volume of 1,769,999. The stock has a market cap of $26.88 billion, a P/E ratio of 44.07, a P/E/G ratio of 2.17 and a beta of 0.77. Wheaton Precious Metals Corp. has a twelve month low of $38.57 and a twelve month high of $68.64. The company’s fifty day simple moving average is $62.76 and its two-hundred day simple moving average is $58.75.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. The firm had revenue of $308.25 million during the quarter, compared to the consensus estimate of $324.57 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. During the same quarter in the prior year, the company earned $0.27 EPS. Sell-side analysts expect that Wheaton Precious Metals Corp. will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 21st will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 1.05%. The ex-dividend date is Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is 46.27%.

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.