Pekin Hardy Strauss Inc. Has $713,000 Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Pekin Hardy Strauss Inc. lowered its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 3.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,595 shares of the company’s stock after selling 497 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Wheaton Precious Metals were worth $713,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in Wheaton Precious Metals during the 4th quarter worth approximately $387,481,000. TD Asset Management Inc boosted its position in shares of Wheaton Precious Metals by 71.2% in the first quarter. TD Asset Management Inc now owns 4,857,837 shares of the company’s stock worth $229,026,000 after buying an additional 2,019,722 shares during the period. AMF Tjanstepension AB grew its holdings in shares of Wheaton Precious Metals by 593.5% during the second quarter. AMF Tjanstepension AB now owns 1,608,134 shares of the company’s stock valued at $84,388,000 after buying an additional 1,376,231 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Wheaton Precious Metals by 31.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,672,800 shares of the company’s stock valued at $272,975,000 after buying an additional 1,342,264 shares during the period. Finally, Barings LLC purchased a new stake in Wheaton Precious Metals in the 2nd quarter worth about $65,405,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Trading Down 0.9 %

Wheaton Precious Metals stock opened at $61.71 on Wednesday. The company has a market capitalization of $27.99 billion, a P/E ratio of 47.47, a P/E/G ratio of 2.26 and a beta of 0.78. Wheaton Precious Metals Corp. has a 1-year low of $38.37 and a 1-year high of $63.13. The firm’s fifty day simple moving average is $59.44 and its 200-day simple moving average is $54.32.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The business’s revenue was up 12.9% compared to the same quarter last year. During the same period last year, the company earned $0.31 earnings per share. On average, equities research analysts predict that Wheaton Precious Metals Corp. will post 1.4 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were issued a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 annualized dividend and a yield of 1.00%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 47.69%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WPM. Jefferies Financial Group lifted their target price on Wheaton Precious Metals from $62.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Berenberg Bank boosted their price objective on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Scotiabank upped their price objective on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. 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. Finally, BMO Capital Markets upped their price target on shares of Wheaton Precious Metals from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 21st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and an average target price of $67.50.

Wheaton Precious Metals Company 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.