SVB Wealth LLC Trims Position in Wheaton Precious Metals Corp. (NYSE:WPM)

SVB Wealth LLC cut its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 59.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,312 shares of the company’s stock after selling 7,746 shares during the quarter. SVB Wealth LLC’s holdings in Wheaton Precious Metals were worth $262,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Dynamic Advisor Solutions LLC increased its holdings in shares of Wheaton Precious Metals by 34.4% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 6,924 shares of the company’s stock valued at $281,000 after purchasing an additional 1,771 shares in the last quarter. AdvisorNet Financial Inc increased its holdings in shares of Wheaton Precious Metals by 303.4% during the 3rd quarter. AdvisorNet Financial Inc now owns 2,925 shares of the company’s stock valued at $119,000 after purchasing an additional 2,200 shares in the last quarter. HB Wealth Management LLC increased its holdings in shares of Wheaton Precious Metals by 9.9% during the 3rd quarter. HB Wealth Management LLC now owns 5,556 shares of the company’s stock valued at $225,000 after purchasing an additional 500 shares in the last quarter. Douglas Lane & Associates LLC increased its holdings in shares of Wheaton Precious Metals by 186.9% during the 3rd quarter. Douglas Lane & Associates LLC now owns 310,914 shares of the company’s stock valued at $12,608,000 after purchasing an additional 202,539 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. increased its holdings in shares of Wheaton Precious Metals by 38.6% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 1,178 shares of the company’s stock valued at $48,000 after purchasing an additional 328 shares in the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Down 2.1 %

Shares of WPM opened at $51.53 on Tuesday. Wheaton Precious Metals Corp. has a 52-week low of $38.37 and a 52-week high of $54.30. The firm’s fifty day moving average is $45.98 and its two-hundred day moving average is $46.15. The stock has a market cap of $23.36 billion, a PE ratio of 43.30, a price-to-earnings-growth ratio of 7.23 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Thursday, March 14th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.04. The firm had revenue of $313.47 million for the quarter, compared to analysts’ expectations of $284.29 million. Wheaton Precious Metals had a net margin of 52.92% and a return on equity of 7.76%. As a group, research analysts anticipate that Wheaton Precious Metals Corp. will post 1.24 earnings per share for the current year.

Wheaton Precious Metals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Wednesday, April 3rd were given a dividend of $0.155 per share. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.62 annualized dividend and a dividend yield of 1.20%. Wheaton Precious Metals’s payout ratio is presently 52.10%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group lifted their target price on shares of Wheaton Precious Metals from $52.00 to $61.00 and gave the company a “buy” rating in a report on Monday. Raymond James cut their price target on shares of Wheaton Precious Metals from $60.00 to $58.00 and set a “market perform” rating for the company in a report on Thursday, February 22nd. Scotiabank cut their price target on shares of Wheaton Precious Metals from $60.00 to $59.00 and set a “sector outperform” rating for the company in a report on Wednesday, February 28th. BMO Capital Markets cut their price target on shares of Wheaton Precious Metals from $61.00 to $59.00 and set an “outperform” rating for the company in a report on Wednesday, February 21st. Finally, Berenberg Bank boosted their price target on shares of Wheaton Precious Metals from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.32.

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.