Wheaton Precious Metals Corp. (NYSE:WPM) Position Lowered by Cadinha & Co. LLC

Cadinha & Co. LLC reduced its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 92.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,435 shares of the company's stock after selling 268,621 shares during the quarter. Cadinha & Co. LLC's holdings in Wheaton Precious Metals were worth $1,262,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in WPM. FMR LLC raised its holdings in Wheaton Precious Metals by 33.7% during the third quarter. FMR LLC now owns 14,665,913 shares of the company's stock worth $895,723,000 after purchasing an additional 3,692,594 shares during the last quarter. Canoe Financial LP acquired a new position in shares of Wheaton Precious Metals during the 3rd quarter worth $113,017,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Wheaton Precious Metals by 1,865.2% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,245,534 shares of the company's stock worth $76,061,000 after buying an additional 1,182,156 shares in the last quarter. Clearbridge Investments LLC grew its stake in Wheaton Precious Metals by 90.5% in the 2nd quarter. Clearbridge Investments LLC now owns 1,344,131 shares of the company's stock valued at $70,461,000 after acquiring an additional 638,425 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Wheaton Precious Metals by 22.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,456,230 shares of the company's stock valued at $211,207,000 after acquiring an additional 634,843 shares in the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. National Bank Financial raised shares of Wheaton Precious Metals from a "sector perform" rating to an "outperform" rating in a research note on Thursday, October 10th. UBS Group assumed coverage on Wheaton Precious Metals in a report on Monday, November 18th. They issued a "buy" rating and a $78.00 price target for the company. Raymond James increased their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Stifel Canada downgraded shares of Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 21st. Finally, Jefferies Financial Group upped their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a "buy" rating in a report on Friday, October 4th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $71.67.

Wheaton Precious Metals Stock Up 0.4 %

Shares of WPM stock traded up $0.26 during trading hours on Friday, hitting $57.74. 874,324 shares of the company were exchanged, compared to its average volume of 1,150,797. The firm has a fifty day moving average of $59.52 and a 200 day moving average of $60.50. Wheaton Precious Metals Corp. has a 1 year low of $38.57 and a 1 year high of $68.64. The firm has a market cap of $26.19 billion, a PE ratio of 43.09, a PEG ratio of 1.28 and a beta of 0.76.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The firm had revenue of $308.25 million during the quarter, compared to analyst estimates of $324.57 million. During the same quarter in the prior year, the business posted $0.27 earnings per share. Analysts expect that Wheaton Precious Metals Corp. will post 1.45 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Thursday, November 21st were issued a $0.155 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.62 annualized dividend and a yield of 1.07%. Wheaton Precious Metals's payout ratio is 46.27%.

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.