U S Global Investors Inc. Sells 40,000 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

U S Global Investors Inc. lessened its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 17.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 189,227 shares of the company's stock after selling 40,000 shares during the quarter. Wheaton Precious Metals makes up about 1.1% of U S Global Investors Inc.'s investment portfolio, making the stock its 21st largest holding. U S Global Investors Inc.'s holdings in Wheaton Precious Metals were worth $11,558,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ridgewood Investments LLC purchased a new position in shares of Wheaton Precious Metals in the 2nd quarter valued at approximately $31,000. Abich Financial Wealth Management LLC purchased a new position in shares of Wheaton Precious Metals in the 2nd quarter valued at approximately $31,000. Sunbelt Securities Inc. purchased a new position in shares of Wheaton Precious Metals in the 2nd quarter valued at approximately $47,000. St. Johns Investment Management Company LLC purchased a new position in shares of Wheaton Precious Metals in the 1st quarter valued at approximately $52,000. Finally, Western Pacific Wealth Management LP lifted its stake in shares of Wheaton Precious Metals by 19.6% in the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company's stock valued at $63,000 after purchasing an additional 218 shares during the period. Hedge funds and other institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Price Performance

Shares of WPM traded up $1.64 on Tuesday, reaching $68.53. The company's stock had a trading volume of 1,632,241 shares, compared to its average volume of 1,764,327. The stock has a market capitalization of $31.09 billion, a P/E ratio of 53.11, a PEG ratio of 2.45 and a beta of 0.78. The stock's 50 day simple moving average is $61.28 and its two-hundred day simple moving average is $57.25. Wheaton Precious Metals Corp. has a 12-month low of $38.57 and a 12-month high of $68.64.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.04. The company had revenue of $299.06 million for the quarter, compared to the consensus estimate of $309.54 million. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The firm's revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 earnings per share. Analysts expect that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 0.90%. The ex-dividend date was Wednesday, August 21st. Wheaton Precious Metals's dividend payout ratio is currently 49.21%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WPM. TD Securities lowered their price objective on Wheaton Precious Metals from $71.00 to $70.00 and set a "buy" rating for the company in a research note on Thursday, August 15th. CIBC upped their price target on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an "outperformer" rating in a research note on Wednesday, July 10th. Bank of America raised their price objective 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. National Bank Financial upgraded shares of Wheaton Precious Metals from a "sector perform" rating to an "outperform" rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group raised their price objective on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a "buy" rating in a research note on Friday, October 4th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, Wheaton Precious Metals has an average rating of "Buy" and a consensus target price of $69.88.

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.