Oppenheimer & Co. Inc. Reduces Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Oppenheimer & Co. Inc. decreased its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 1.2% during the third quarter, Holdings Channel.com reports. The fund owned 71,279 shares of the company’s stock after selling 833 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Wheaton Precious Metals were worth $4,354,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of WPM. Empower Advisory Group LLC bought a new stake in shares of Wheaton Precious Metals in the third quarter worth about $217,000. Apollon Wealth Management LLC grew its position in shares of Wheaton Precious Metals by 47.7% in the 3rd quarter. Apollon Wealth Management LLC now owns 5,899 shares of the company’s stock worth $360,000 after buying an additional 1,904 shares during the last quarter. Tyler Stone Wealth Management increased its stake in shares of Wheaton Precious Metals by 100.3% during the third quarter. Tyler Stone Wealth Management now owns 4,253 shares of the company’s stock valued at $260,000 after buying an additional 2,130 shares during the period. Oxbow Advisors LLC raised its holdings in shares of Wheaton Precious Metals by 6.2% during the third quarter. Oxbow Advisors LLC now owns 10,726 shares of the company’s stock valued at $655,000 after acquiring an additional 622 shares in the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in Wheaton Precious Metals in the third quarter worth $8,343,000. 70.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Stifel Canada lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Scotiabank raised their price objective on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. TD Securities lifted their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Raymond James increased their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Jefferies Financial Group upped their price target on 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 analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and an average price target of $70.88.

Wheaton Precious Metals Price Performance

Shares of NYSE:WPM opened at $59.33 on Friday. The company has a market capitalization of $26.91 billion, a PE ratio of 44.28, a PEG ratio of 2.15 and a beta of 0.77. The business has a fifty day moving average price of $62.75 and a 200-day moving average price of $58.76. Wheaton Precious Metals Corp. has a 1-year low of $38.57 and a 1-year high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The firm had revenue of $308.25 million for the quarter, compared to the consensus estimate of $324.57 million. During the same quarter in the prior year, the firm posted $0.27 earnings per share. On average, sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.155 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.62 annualized dividend and a yield of 1.05%. Wheaton Precious Metals’s dividend payout ratio is 46.27%.

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.