Wheaton Precious Metals Corp. (NYSE:WPM) Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC lowered its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 0.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,806 shares of the company’s stock after selling 737 shares during the period. Cannell & Spears LLC’s holdings in Wheaton Precious Metals were worth $4,545,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in WPM. Cerity Partners LLC grew its position in Wheaton Precious Metals by 31.3% in the third quarter. Cerity Partners LLC now owns 17,290 shares of the company’s stock worth $1,056,000 after buying an additional 4,124 shares during the last quarter. Captrust Financial Advisors raised its position in shares of Wheaton Precious Metals by 3.2% during the third quarter. Captrust Financial Advisors now owns 43,718 shares of the company’s stock worth $2,670,000 after purchasing an additional 1,362 shares during the period. Flow Traders U.S. LLC purchased a new stake in shares of Wheaton Precious Metals during the third quarter valued at $523,000. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Wheaton Precious Metals in the 3rd quarter valued at $5,253,000. Finally, HighTower Advisors LLC increased its stake in Wheaton Precious Metals by 61.4% in the 3rd quarter. HighTower Advisors LLC now owns 235,675 shares of the company’s stock worth $14,381,000 after purchasing an additional 89,671 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on WPM shares. Stifel Canada raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Scotiabank upped their price target on shares of Wheaton Precious Metals from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research report on Monday, March 17th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of “Buy” and an average price target of $72.44.

Wheaton Precious Metals Stock Up 1.0 %

WPM stock opened at $77.64 on Tuesday. The company has a 50 day moving average of $68.84 and a two-hundred day moving average of $63.92. The company has a market cap of $35.22 billion, a price-to-earnings ratio of 57.94, a PEG ratio of 1.91 and a beta of 0.77. Wheaton Precious Metals Corp. has a 12-month low of $47.02 and a 12-month high of $78.10.

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

Wheaton Precious Metals Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.85%. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, April 1st. Wheaton Precious Metals’s payout ratio is currently 56.90%.

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.