Invesco Ltd. Sells 4,652 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Invesco Ltd. cut its stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 879,658 shares of the company's stock after selling 4,652 shares during the quarter. Invesco Ltd. owned approximately 0.19% of Wheaton Precious Metals worth $49,472,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of WPM. Versant Capital Management Inc acquired a new position in Wheaton Precious Metals in the 4th quarter worth about $29,000. Promus Capital LLC acquired a new position in Wheaton Precious Metals in the fourth quarter worth approximately $32,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Wheaton Precious Metals during the fourth quarter valued at approximately $38,000. Laurel Wealth Advisors LLC bought a new position in Wheaton Precious Metals during the fourth quarter valued at approximately $39,000. Finally, Quintet Private Bank Europe S.A. acquired a new stake in Wheaton Precious Metals in the fourth quarter valued at approximately $39,000. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Price Performance

Shares of Wheaton Precious Metals stock traded down $0.60 during trading on Friday, hitting $84.16. 1,745,316 shares of the company's stock traded hands, compared to its average volume of 1,642,027. Wheaton Precious Metals Corp. has a twelve month low of $50.91 and a twelve month high of $86.20. The company has a market cap of $38.18 billion, a PE ratio of 62.81, a PEG ratio of 1.91 and a beta of 0.74. The firm's fifty day moving average price is $73.63 and its 200 day moving average price is $65.58.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its 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 company had revenue of $380.52 million during the quarter, compared to analyst estimates of $395.74 million. During the same period in the previous year, the company posted $0.36 earnings per share. The company's quarterly revenue was up 21.4% on a year-over-year basis. As a group, equities research analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were given a dividend of $0.165 per share. This is an increase from Wheaton Precious Metals's previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.66 annualized dividend and a yield of 0.78%. Wheaton Precious Metals's dividend payout ratio is 56.90%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WPM. Stifel Canada raised shares of Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. Royal Bank of Canada raised their price objective on Wheaton Precious Metals from $75.00 to $80.00 and gave the company a "sector perform" rating in a research note on Friday, April 4th. Raymond James increased their price target on Wheaton Precious Metals from $88.00 to $90.00 and gave the company an "outperform" rating in a report on Tuesday. Scotiabank boosted their price objective on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a "sector outperform" rating in a research note on Monday. Finally, UBS Group raised their target price on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the company a "buy" rating in a research note on Friday, April 11th. One analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $83.40.

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.