Franklin Resources Inc. Decreases Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Franklin Resources Inc. trimmed its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 39.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 168,306 shares of the company’s stock after selling 109,445 shares during the period. Franklin Resources Inc.’s holdings in Wheaton Precious Metals were worth $9,461,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WPM. Raymond James Financial Inc. bought a new stake in Wheaton Precious Metals in the 4th quarter valued at $20,790,000. Sei Investments Co. lifted its holdings in Wheaton Precious Metals by 25.7% during the 4th quarter. Sei Investments Co. now owns 40,769 shares of the company’s stock valued at $2,293,000 after buying an additional 8,331 shares in the last quarter. CWA Asset Management Group LLC raised its holdings in shares of Wheaton Precious Metals by 19.7% in the fourth quarter. CWA Asset Management Group LLC now owns 163,514 shares of the company’s stock valued at $9,196,000 after acquiring an additional 26,924 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Wheaton Precious Metals by 42.7% during the third quarter. Wellington Management Group LLP now owns 133,627 shares of the company’s stock valued at $8,170,000 after purchasing an additional 39,979 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Wheaton Precious Metals by 9.1% in the fourth quarter. Bank of New York Mellon Corp now owns 399,035 shares of the company’s stock worth $22,442,000 after purchasing an additional 33,256 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Down 0.2 %

NYSE:WPM opened at $70.56 on Wednesday. The firm’s fifty day simple moving average is $70.81 and its 200-day simple moving average is $64.48. The stock has a market cap of $32.01 billion, a PE ratio of 52.65, a price-to-earnings-growth ratio of 1.91 and a beta of 0.74. Wheaton Precious Metals Corp. has a fifty-two week low of $49.43 and a fifty-two week high of $80.43.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The firm had revenue of $380.52 million during the quarter, compared to analysts’ expectations of $395.74 million. During the same quarter in the prior year, the business earned $0.36 EPS. The company’s quarterly revenue was up 21.4% compared to the same quarter last year. Equities analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Tuesday, April 1st will be given a dividend of $0.165 per share. The ex-dividend date is Tuesday, April 1st. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a yield of 0.94%. Wheaton Precious Metals’s dividend payout ratio is 56.90%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Raymond James raised their target price on Wheaton Precious Metals from $75.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, April 4th. Stifel Canada upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Royal Bank of Canada increased their price target on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Friday, April 4th. Finally, Scotiabank boosted their target price on shares of Wheaton Precious Metals from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 17th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Wheaton Precious Metals has a consensus rating of “Buy” and a consensus target price of $74.50.

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.