Federated Hermes Inc. Trims Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Federated Hermes Inc. cut its holdings in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 37.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,183,249 shares of the company's stock after selling 717,488 shares during the quarter. Federated Hermes Inc. owned 0.26% of Wheaton Precious Metals worth $66,546,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in WPM. Norges Bank purchased a new stake in Wheaton Precious Metals in the 4th quarter worth $472,648,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at about $72,657,000. Van ECK Associates Corp increased its stake in shares of Wheaton Precious Metals by 6.4% during the fourth quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company's stock worth $1,154,843,000 after purchasing an additional 1,231,999 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Wheaton Precious Metals by 33.1% during the 4th quarter. Geode Capital Management LLC now owns 2,664,542 shares of the company's stock worth $151,134,000 after purchasing an additional 661,913 shares during the last quarter. Finally, TD Asset Management Inc. lifted its stake in Wheaton Precious Metals by 9.6% in the 4th quarter. TD Asset Management Inc. now owns 7,156,818 shares of the company's stock valued at $402,627,000 after buying an additional 629,743 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Trading Up 5.4 %

Wheaton Precious Metals stock traded up $4.18 during midday trading on Friday, hitting $82.08. 3,609,122 shares of the stock were exchanged, compared to its average volume of 1,650,179. The stock's 50-day simple moving average is $71.92 and its 200 day simple moving average is $64.86. Wheaton Precious Metals Corp. has a fifty-two week low of $49.71 and a fifty-two week high of $82.99. The stock has a market capitalization of $37.24 billion, a price-to-earnings ratio of 61.25, a PEG ratio of 1.91 and a beta of 0.74.

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Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $380.52 million for the quarter, compared to analyst estimates of $395.74 million. During the same quarter in the prior year, the business earned $0.36 EPS. The firm's quarterly revenue was up 21.4% on a year-over-year basis. Equities analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend was Tuesday, April 1st. This is a positive change from Wheaton Precious Metals's previous quarterly dividend of $0.16. Wheaton Precious Metals's dividend payout ratio is 56.90%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Royal Bank of Canada boosted their price objective on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a "sector perform" rating in a research note on Friday, April 4th. Stifel Canada upgraded Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 4th. Scotiabank increased their price objective on Wheaton Precious Metals from $78.00 to $79.00 and gave the company a "sector outperform" rating in a research note on Monday, March 17th. UBS Group lifted their target price on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Raymond James increased their target price on shares of Wheaton Precious Metals from $75.00 to $88.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wheaton Precious Metals currently has an average rating of "Buy" and a consensus price target of $75.60.

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.