Flagship Harbor Advisors LLC Sells 843 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Flagship Harbor Advisors LLC cut its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,836 shares of the company’s stock after selling 843 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Wheaton Precious Metals were worth $609,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in WPM. FMR LLC raised its stake in Wheaton Precious Metals by 33.7% during the 3rd quarter. FMR LLC now owns 14,665,913 shares of the company’s stock valued at $895,723,000 after purchasing an additional 3,692,594 shares during the period. Canoe Financial LP bought a new stake in shares of Wheaton Precious Metals during the third quarter valued at approximately $113,017,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Wheaton Precious Metals by 1,865.2% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,245,534 shares of the company’s stock worth $76,061,000 after buying an additional 1,182,156 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Wheaton Precious Metals by 90.5% during the second quarter. Clearbridge Investments LLC now owns 1,344,131 shares of the company’s stock worth $70,461,000 after acquiring an additional 638,425 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Wheaton Precious Metals by 22.5% during the third quarter. The Manufacturers Life Insurance Company now owns 3,456,230 shares of the company’s stock valued at $211,207,000 after acquiring an additional 634,843 shares in the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WPM has been the subject of several research reports. Jefferies Financial Group increased their price objective on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a report on Friday, October 4th. Raymond James raised their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Stifel Canada downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. UBS Group initiated coverage on shares of Wheaton Precious Metals in a report on Monday, November 18th. They issued a “buy” rating and a $78.00 target price for the company. Finally, TD Securities upped their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $71.67.

Wheaton Precious Metals Price Performance

Shares of NYSE:WPM opened at $59.25 on Tuesday. Wheaton Precious Metals Corp. has a 1 year low of $38.57 and a 1 year high of $68.64. The firm has a market capitalization of $26.88 billion, a PE ratio of 44.21, a price-to-earnings-growth ratio of 1.29 and a beta of 0.76. The business has a 50 day simple moving average of $59.43 and a two-hundred day simple moving average of $60.60.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.34. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The company had revenue of $308.25 million during the quarter, compared to analyst estimates of $324.57 million. During the same quarter last year, the business posted $0.27 EPS. Equities research analysts expect that Wheaton Precious Metals Corp. will post 1.45 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Thursday, November 21st were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Thursday, November 21st. Wheaton Precious Metals’s dividend 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.