Carnegie Capital Asset Management LLC Has $402,000 Stock Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Carnegie Capital Asset Management LLC lessened its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 29.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,142 shares of the company’s stock after selling 3,405 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Wheaton Precious Metals were worth $402,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of WPM. CVA Family Office LLC acquired a new position in shares of Wheaton Precious Metals during the 4th quarter worth approximately $26,000. Atlas Capital Advisors LLC acquired a new position in shares of Wheaton Precious Metals during the 4th quarter worth approximately $29,000. McGlone Suttner Wealth Management Inc. bought a new stake in Wheaton Precious Metals in the 4th quarter valued at $31,000. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in Wheaton Precious Metals by 54.7% in the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 792 shares of the company’s stock valued at $31,000 after purchasing an additional 280 shares during the period. Finally, Mechanics Financial Corp boosted its stake in Wheaton Precious Metals by 200.0% in the 3rd quarter. Mechanics Financial Corp now owns 900 shares of the company’s stock valued at $36,000 after purchasing an additional 600 shares during the period. Institutional investors and hedge funds own 70.34% of the company’s stock.

Analyst Upgrades and Downgrades

WPM has been the subject of several recent research reports. TD Securities upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating and boosted their price target for the company from $51.00 to $53.00 in a research note on Monday, March 18th. Jefferies Financial Group initiated coverage on Wheaton Precious Metals in a research report on Thursday, February 29th. They set a “buy” rating and a $49.00 target price for the company. National Bank Financial downgraded Wheaton Precious Metals from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, February 21st. Scotiabank cut their target price on Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating for the company in a research report on Wednesday, February 28th. Finally, Raymond James cut their target price on Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating for the company in a research report on Thursday, February 22nd. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and a consensus price target of $59.63.

Wheaton Precious Metals Stock Up 2.7 %

Shares of WPM opened at $52.67 on Thursday. Wheaton Precious Metals Corp. has a 12-month low of $38.37 and a 12-month high of $54.30. The business has a 50-day simple moving average of $45.58 and a two-hundred day simple moving average of $45.82. The stock has a market cap of $23.87 billion, a PE ratio of 44.26, a PEG ratio of 7.04 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, March 14th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. Wheaton Precious Metals had a return on equity of 7.76% and a net margin of 52.92%. The business had revenue of $313.47 million during the quarter, compared to analysts’ expectations of $284.29 million. On average, equities research analysts expect that Wheaton Precious Metals Corp. will post 1.24 EPS for the current year.

Wheaton Precious Metals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Wednesday, April 3rd were issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Tuesday, April 2nd. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.15. Wheaton Precious Metals’s dividend payout ratio is presently 52.10%.

Wheaton Precious Metals Profile

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.