Wheaton Precious Metals Corp. $WPM Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC lessened its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 392,856 shares of the company’s stock after selling 13,658 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.09% of Wheaton Precious Metals worth $52,533,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Wheaton Precious Metals during the 2nd quarter valued at $581,250,000. Canada Pension Plan Investment Board bought a new position in shares of Wheaton Precious Metals in the second quarter valued at about $351,708,000. Bank of America Corp DE acquired a new stake in shares of Wheaton Precious Metals during the 2nd quarter worth about $328,309,000. Legal & General Group Plc bought a new stake in shares of Wheaton Precious Metals during the 2nd quarter worth about $320,838,000. Finally, The Manufacturers Life Insurance Company bought a new position in Wheaton Precious Metals in the 2nd quarter valued at about $310,738,000. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Trading Up 2.4%

Shares of WPM traded up $3.25 during trading hours on Friday, hitting $138.22. 495,637 shares of the stock were exchanged, compared to its average volume of 2,216,521. Wheaton Precious Metals Corp. has a fifty-two week low of $92.57 and a fifty-two week high of $165.76. The business has a 50-day moving average of $142.71 and a 200-day moving average of $131.12. The firm has a market capitalization of $62.78 billion, a P/E ratio of 30.65, a price-to-earnings-growth ratio of 2.36 and a beta of 0.54. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.47 and a quick ratio of 0.47.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%.The firm had revenue of $878.00 million during the quarter, compared to the consensus estimate of $879.29 million. During the same period last year, the business posted $0.63 EPS. The business’s revenue was up 84.7% compared to the same quarter last year. On average, research analysts expect that Wheaton Precious Metals Corp. will post 4.79 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were given a dividend of $0.1950 per share. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.78 annualized dividend and a dividend yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 17.29%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. UBS Group increased their price objective on Wheaton Precious Metals from $153.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday. Berenberg Bank set a $157.00 price target on Wheaton Precious Metals in a research report on Tuesday, July 28th. Jefferies Financial Group dropped their price target on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Scotiabank dropped their target price on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 14th. Finally, Weiss Ratings upgraded shares of Wheaton Precious Metals from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 24th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and an average price target of $166.91.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a precious metals streaming company headquartered in Vancouver, Canada. Rather than operating mines directly, the company provides mining companies with upfront financing in exchange for the right to purchase a portion of the gold, silver, palladium, cobalt and other metals produced by designated mining operations at predetermined prices.

Wheaton’s streaming portfolio is supported by agreements with mining operations in the Americas and other regions, including Canada, the United States, Mexico, Peru, Brazil and Chile.