HighTower Advisors LLC Sells 25,948 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

HighTower Advisors LLC cut its holdings in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 11.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 209,727 shares of the company's stock after selling 25,948 shares during the quarter. HighTower Advisors LLC's holdings in Wheaton Precious Metals were worth $11,795,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. AGF Management Ltd. raised its holdings in Wheaton Precious Metals by 7.0% in the fourth quarter. AGF Management Ltd. now owns 119,306 shares of the company's stock worth $6,715,000 after purchasing an additional 7,840 shares during the period. King Luther Capital Management Corp raised its holdings in Wheaton Precious Metals by 1.6% in the fourth quarter. King Luther Capital Management Corp now owns 1,525,617 shares of the company's stock worth $85,801,000 after purchasing an additional 24,580 shares during the period. Moran Wealth Management LLC raised its holdings in Wheaton Precious Metals by 39.2% in the fourth quarter. Moran Wealth Management LLC now owns 28,399 shares of the company's stock worth $1,597,000 after purchasing an additional 7,991 shares during the period. PCJ Investment Counsel Ltd. raised its holdings in Wheaton Precious Metals by 15.4% in the fourth quarter. PCJ Investment Counsel Ltd. now owns 36,260 shares of the company's stock worth $2,038,000 after purchasing an additional 4,850 shares during the period. Finally, Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Wheaton Precious Metals in the fourth quarter worth $959,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Stifel Canada upgraded shares of Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Scotiabank raised their price objective on shares of Wheaton Precious Metals from $78.00 to $79.00 and gave the stock a "sector outperform" rating in a report on Monday. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Wheaton Precious Metals currently has a consensus rating of "Buy" and a consensus price target of $72.44.

Wheaton Precious Metals Price Performance

WPM stock traded down $0.59 during midday trading on Thursday, hitting $75.58. The company's stock had a trading volume of 1,298,352 shares, compared to its average volume of 1,577,858. Wheaton Precious Metals Corp. has a twelve month low of $43.18 and a twelve month high of $77.93. The company's fifty day moving average price is $65.86 and its 200 day moving average price is $62.99. The stock has a market capitalization of $34.29 billion, a P/E ratio of 56.41, a PEG ratio of 1.91 and a beta of 0.76.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.01). Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The firm had revenue of $380.52 million during the quarter, compared to the consensus estimate of $395.74 million. During the same period last year, the business earned $0.36 EPS. The business's revenue was up 21.4% on a year-over-year basis. Equities analysts expect that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Tuesday, April 1st. This is an increase from Wheaton Precious Metals's previous quarterly dividend of $0.16. Wheaton Precious Metals's dividend payout ratio (DPR) is 49.25%.

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.