SCP Investment LP Sells 1,000 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

SCP Investment LP cut its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 20.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,800 shares of the company’s stock after selling 1,000 shares during the quarter. SCP Investment LP’s holdings in Wheaton Precious Metals were worth $232,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its position in Wheaton Precious Metals by 5.6% in the third quarter. PNC Financial Services Group Inc. now owns 33,409 shares of the company’s stock valued at $2,041,000 after buying an additional 1,768 shares in the last quarter. Prospera Financial Services Inc boosted its holdings in shares of Wheaton Precious Metals by 0.8% during the 3rd quarter. Prospera Financial Services Inc now owns 87,251 shares of the company’s stock valued at $5,329,000 after acquiring an additional 675 shares in the last quarter. MAI Capital Management grew its position in Wheaton Precious Metals by 4.5% during the 3rd quarter. MAI Capital Management now owns 8,054 shares of the company’s stock worth $492,000 after acquiring an additional 346 shares during the last quarter. Swiss National Bank increased its holdings in Wheaton Precious Metals by 0.8% in the 3rd quarter. Swiss National Bank now owns 1,370,800 shares of the company’s stock worth $83,854,000 after purchasing an additional 10,600 shares in the last quarter. Finally, Natixis Advisors LLC increased its holdings in Wheaton Precious Metals by 13.2% in the 3rd quarter. Natixis Advisors LLC now owns 62,683 shares of the company’s stock worth $3,829,000 after purchasing an additional 7,332 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WPM has been the topic of a number of recent research reports. Scotiabank lifted their price target on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. TD Securities lifted their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. National Bank Financial upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. UBS Group assumed coverage on shares of Wheaton Precious Metals in a research note on Monday. They set a “buy” rating and a $78.00 price target for the company. Finally, Raymond James boosted their price objective on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $71.67.

Wheaton Precious Metals Stock Up 2.8 %

WPM stock opened at $62.60 on Wednesday. The company’s fifty day simple moving average is $62.87 and its 200 day simple moving average is $59.00. Wheaton Precious Metals Corp. has a 12-month low of $38.57 and a 12-month high of $68.64. The firm has a market cap of $28.40 billion, a price-to-earnings ratio of 46.72, a PEG ratio of 2.14 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The company had revenue of $308.25 million for the quarter, compared to the consensus estimate of $324.57 million. During the same period in the previous year, the business earned $0.27 EPS. Research analysts expect that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, November 21st. Wheaton Precious Metals’s payout ratio is 46.27%.

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.