Axxcess Wealth Management LLC Decreases Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Axxcess Wealth Management LLC reduced its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 4.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,362 shares of the company’s stock after selling 1,926 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Wheaton Precious Metals were worth $2,185,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. First Eagle Investment Management LLC raised its holdings in Wheaton Precious Metals by 1.4% during the 1st quarter. First Eagle Investment Management LLC now owns 21,403,409 shares of the company’s stock valued at $1,008,743,000 after buying an additional 292,968 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Wheaton Precious Metals by 9.9% during the fourth quarter. Van ECK Associates Corp now owns 20,521,065 shares of the company’s stock valued at $1,012,517,000 after acquiring an additional 1,856,031 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Wheaton Precious Metals by 1.7% in the first quarter. Vanguard Group Inc. now owns 16,770,475 shares of the company’s stock worth $790,392,000 after purchasing an additional 272,918 shares during the last quarter. FIL Ltd increased its holdings in Wheaton Precious Metals by 5.5% during the 4th quarter. FIL Ltd now owns 10,646,479 shares of the company’s stock valued at $525,235,000 after purchasing an additional 550,804 shares during the period. Finally, Norges Bank bought a new position in Wheaton Precious Metals during the 4th quarter valued at approximately $387,481,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Trading Down 0.7 %

NYSE:WPM traded down $0.44 during trading hours on Friday, reaching $58.30. 1,431,740 shares of the company traded hands, compared to its average volume of 1,860,904. Wheaton Precious Metals Corp. has a 1 year low of $38.37 and a 1 year high of $63.06. The business’s 50-day moving average price is $55.81 and its two-hundred day moving average price is $50.58. The stock has a market capitalization of $26.44 billion, a P/E ratio of 44.85, a P/E/G ratio of 2.27 and a beta of 0.76.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. Wheaton Precious Metals had a net margin of 53.74% and a return on equity of 8.53%. The business had revenue of $296.80 million during the quarter, compared to analyst estimates of $278.95 million. During the same period last year, the business earned $0.23 EPS. Wheaton Precious Metals’s revenue was up 38.7% compared to the same quarter last year. As a group, equities analysts anticipate that Wheaton Precious Metals Corp. will post 1.36 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th were issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Wednesday, May 29th. Wheaton Precious Metals’s payout ratio is 47.69%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WPM. BMO Capital Markets raised their price target on Wheaton Precious Metals from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 21st. Bank of America lifted their target price on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Scotiabank increased their price target on shares of Wheaton Precious Metals from $59.00 to $66.50 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. Berenberg Bank lifted their price objective on Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, CIBC upped their target price on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $65.00.

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.