Commonwealth Equity Services LLC Cuts Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Commonwealth Equity Services LLC lowered its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 10.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,125 shares of the company's stock after selling 10,331 shares during the period. Commonwealth Equity Services LLC's holdings in Wheaton Precious Metals were worth $5,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc purchased a new position in Wheaton Precious Metals during the 4th quarter valued at approximately $29,000. Promus Capital LLC bought a new position in shares of Wheaton Precious Metals in the 4th quarter valued at about $32,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Wheaton Precious Metals in the fourth quarter worth about $38,000. Laurel Wealth Advisors LLC purchased a new position in Wheaton Precious Metals during the 4th quarter valued at $39,000. Finally, Quintet Private Bank Europe S.A. bought a new position in Wheaton Precious Metals in the 4th quarter valued at $39,000. Institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Stock Up 1.5 %

Shares of WPM traded up $1.13 during mid-day trading on Tuesday, reaching $76.04. The company had a trading volume of 493,648 shares, compared to its average volume of 1,578,167. The stock has a 50 day moving average of $66.95 and a two-hundred day moving average of $63.32. The stock has a market capitalization of $34.50 billion, a P/E ratio of 56.75, a PEG ratio of 1.91 and a beta of 0.77. Wheaton Precious Metals Corp. has a 52-week low of $44.57 and a 52-week high of $77.44.

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Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.44 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 company 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 company posted $0.36 EPS. The company's revenue for the quarter was up 21.4% on a year-over-year basis. On average, sell-side analysts expect that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a $0.165 dividend. This is a boost from Wheaton Precious Metals's previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, April 1st. This represents a $0.66 dividend on an annualized basis and a yield of 0.87%. Wheaton Precious Metals's payout ratio is presently 56.90%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WPM. Stifel Canada upgraded Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Scotiabank upped their price target on shares of Wheaton Precious Metals from $78.00 to $79.00 and gave the stock a "sector outperform" rating in a research report on Monday, March 17th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $72.44.

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.