Axxcess Wealth Management LLC Sells 1,970 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Axxcess Wealth Management LLC reduced its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 4.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,392 shares of the company’s stock after selling 1,970 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Wheaton Precious Metals were worth $2,327,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of WPM. Ridgewood Investments LLC purchased a new stake in shares of Wheaton Precious Metals during the second quarter valued at approximately $31,000. Principal Securities Inc. purchased a new stake in Wheaton Precious Metals during the 4th quarter valued at $39,000. St. Johns Investment Management Company LLC bought a new stake in shares of Wheaton Precious Metals in the 1st quarter worth $52,000. Western Pacific Wealth Management LP increased its holdings 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 worth $63,000 after purchasing an additional 218 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Wheaton Precious Metals by 25.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock worth $65,000 after purchasing an additional 253 shares during the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Trading Down 0.9 %

Shares of NYSE WPM opened at $61.71 on Wednesday. Wheaton Precious Metals Corp. has a 12-month low of $38.37 and a 12-month high of $63.13. The firm has a market capitalization of $27.99 billion, a price-to-earnings ratio of 47.47, a price-to-earnings-growth ratio of 2.26 and a beta of 0.78. The firm has a 50 day moving average of $59.44 and a 200 day moving average of $54.32.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. The business had revenue of $299.06 million for the quarter, compared to analysts’ expectations of $309.54 million. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The company’s revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.31 EPS. Sell-side analysts predict that Wheaton Precious Metals Corp. will post 1.4 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The business 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 1.00%. The ex-dividend date of this dividend was Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio is presently 47.69%.

Wall Street Analyst Weigh In

Several research firms recently commented on WPM. TD Securities dropped their price objective on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. CIBC raised their price target on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Berenberg Bank boosted their price objective on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Jefferies Financial Group increased their price objective on shares of Wheaton Precious Metals from $62.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Finally, 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 report on Monday, August 19th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.50.

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.