Cetera Investment Advisers Trims Stake in Wheaton Precious Metals Corp. $WPM

Cetera Investment Advisers lowered its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 5.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 80,980 shares of the company’s stock after selling 4,259 shares during the quarter. Cetera Investment Advisers’ holdings in Wheaton Precious Metals were worth $7,272,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Creative Planning raised its position in shares of Wheaton Precious Metals by 13.7% during the second quarter. Creative Planning now owns 58,727 shares of the company’s stock valued at $5,274,000 after buying an additional 7,062 shares during the last quarter. Meridian Wealth Management LLC purchased a new position in Wheaton Precious Metals during the second quarter valued at $502,000. Foundations Investment Advisors LLC grew its stake in Wheaton Precious Metals by 10.6% during the second quarter. Foundations Investment Advisors LLC now owns 3,491 shares of the company’s stock valued at $313,000 after acquiring an additional 336 shares in the last quarter. Fiera Capital Corp increased its holdings in Wheaton Precious Metals by 2.3% in the 2nd quarter. Fiera Capital Corp now owns 362,288 shares of the company’s stock valued at $32,560,000 after acquiring an additional 8,292 shares during the last quarter. Finally, Candriam S.C.A. purchased a new stake in Wheaton Precious Metals in the 2nd quarter worth $546,000. 70.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WPM has been the subject of a number of research analyst reports. BMO Capital Markets restated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. Weiss Ratings restated a “buy (b)” rating on shares of Wheaton Precious Metals in a report on Wednesday. UBS Group lifted their price objective on Wheaton Precious Metals from $118.00 to $122.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Wall Street Zen upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Monday, September 8th. Finally, Bank of America raised their target price on shares of Wheaton Precious Metals from $127.00 to $132.00 and gave the company a “buy” rating in a report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $124.50.

Wheaton Precious Metals Stock Performance

Shares of WPM stock opened at $99.34 on Friday. The stock has a 50 day moving average price of $103.82 and a 200 day moving average price of $96.06. Wheaton Precious Metals Corp. has a 52-week low of $55.47 and a 52-week high of $114.36. The firm has a market capitalization of $45.10 billion, a P/E ratio of 57.42, a P/E/G ratio of 1.67 and a beta of 0.38.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.59 by $0.03. The company had revenue of $476.26 million for the quarter, compared to the consensus estimate of $495.53 million. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The firm’s revenue was up 54.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 EPS. As a group, sell-side analysts forecast that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th will be issued a dividend of $0.165 per share. The ex-dividend date is Thursday, November 20th. This represents a $0.66 dividend on an annualized basis and a yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio is currently 30.00%.

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.