Van ECK Associates Corp Cuts Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Van ECK Associates Corp trimmed its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 3.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,302,105 shares of the company's stock after selling 682,879 shares during the quarter. Wheaton Precious Metals makes up about 1.4% of Van ECK Associates Corp's portfolio, making the stock its 11th biggest holding. Van ECK Associates Corp owned 4.26% of Wheaton Precious Metals worth $1,301,553,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. AdvisorNet Financial Inc increased its holdings in Wheaton Precious Metals by 6.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company's stock worth $175,000 after acquiring an additional 190 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in Wheaton Precious Metals by 0.6% in the 3rd quarter. Vontobel Holding Ltd. now owns 34,558 shares of the company's stock worth $2,110,000 after acquiring an additional 197 shares in the last quarter. Capital International Inc. CA increased its holdings in Wheaton Precious Metals by 2.5% in the 1st quarter. Capital International Inc. CA now owns 8,308 shares of the company's stock worth $392,000 after acquiring an additional 204 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in Wheaton Precious Metals by 1.0% in the 3rd quarter. Arkadios Wealth Advisors now owns 21,575 shares of the company's stock worth $1,318,000 after acquiring an additional 210 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in Wheaton Precious Metals by 4.9% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,607 shares of the company's stock worth $281,000 after acquiring an additional 217 shares in the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Trading Down 1.3 %

NYSE WPM traded down $0.88 during trading hours on Friday, reaching $65.13. The company had a trading volume of 1,266,217 shares, compared to its average volume of 1,715,276. The stock has a 50-day moving average of $62.53 and a 200 day moving average of $58.19. Wheaton Precious Metals Corp. has a 1-year low of $38.57 and a 1-year high of $68.64. The stock has a market capitalization of $29.55 billion, a P/E ratio of 51.69, a price-to-earnings-growth ratio of 2.40 and a beta of 0.77.

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

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were given a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 dividend on an annualized basis and a yield of 0.95%. Wheaton Precious Metals's payout ratio is currently 49.21%.

Analysts Set New Price Targets

WPM has been the subject of several recent analyst reports. CIBC boosted their price target on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an "outperformer" rating in a report on Wednesday, July 10th. Raymond James lifted their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Stifel Canada cut shares of Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 21st. Scotiabank lifted their target price on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a "sector outperform" rating in a research note on Monday, August 19th. Finally, Jefferies Financial Group lifted their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a "buy" rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $70.25.

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.