Wheaton Precious Metals Corp. $WPM Shares Sold by Keybank National Association OH

Keybank National Association OH cut its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 5.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 240,151 shares of the company’s stock after selling 14,310 shares during the quarter. Keybank National Association OH owned 0.05% of Wheaton Precious Metals worth $31,462,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in WPM. Assetmark Inc. grew its stake in Wheaton Precious Metals by 144.4% in the 4th quarter. Assetmark Inc. now owns 220 shares of the company’s stock valued at $26,000 after acquiring an additional 130 shares during the period. Harvest Fund Management Co. Ltd raised its position in Wheaton Precious Metals by 100.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock worth $27,000 after acquiring an additional 117 shares during the period. Cary Street Partners Investment Advisory LLC acquired a new position in Wheaton Precious Metals during the fourth quarter worth $28,000. Navalign LLC purchased a new position in Wheaton Precious Metals during the fourth quarter valued at $30,000. Finally, Eagle Bay Advisors LLC purchased a new position in Wheaton Precious Metals during the fourth quarter valued at $32,000. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Price Performance

WPM opened at $115.58 on Friday. The firm has a market capitalization of $52.49 billion, a price-to-earnings ratio of 29.19, a price-to-earnings-growth ratio of 2.18 and a beta of 0.55. The company’s 50 day simple moving average is $125.32 and its two-hundred day simple moving average is $132.67. Wheaton Precious Metals Corp. has a 1-year low of $85.59 and a 1-year high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.04. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The business had revenue of $901.47 million during the quarter, compared to analyst estimates of $868.35 million. During the same period in the prior year, the business earned $0.55 earnings per share. The business’s revenue was up 91.7% compared to the same quarter last year. On average, equities analysts anticipate that Wheaton Precious Metals Corp. will post 4.99 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were issued a $0.195 dividend. This represents a $0.78 annualized dividend and a yield of 0.7%. The ex-dividend date was Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio is presently 19.70%.

Wall Street Analyst Weigh In

WPM has been the topic of a number of research reports. UBS Group decreased their price target on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday. BMO Capital Markets initiated coverage on Wheaton Precious Metals in a research note on Thursday, April 9th. They set an “outperform” rating and a $240.00 price objective for the company. Wall Street Zen lowered Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Scotiabank increased their target price on Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Finally, TD Securities raised their target price on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $154.73.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.