SVB Wealth LLC Lowers Stock 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% during the fourth quarter, HoldingsChannel.com reports. 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 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Sprott Inc. grew its position in shares of Wheaton Precious Metals by 4.8% during the third quarter. Sprott Inc. now owns 799,533 shares of the company’s stock worth $32,421,000 after acquiring an additional 36,654 shares during the last quarter. Douglas Lane & Associates LLC grew its position in shares of Wheaton Precious Metals by 31.4% during the fourth quarter. Douglas Lane & Associates LLC now owns 408,449 shares of the company’s stock worth $20,153,000 after acquiring an additional 97,535 shares during the last quarter. Deutsche Bank AG grew its position in Wheaton Precious Metals by 4.4% in the 3rd quarter. Deutsche Bank AG now owns 3,623,133 shares of the company’s stock valued at $146,918,000 after buying an additional 152,826 shares during the last quarter. Wellington Management Group LLP grew its position in Wheaton Precious Metals by 98.8% in the 3rd quarter. Wellington Management Group LLP now owns 71,667 shares of the company’s stock valued at $2,922,000 after buying an additional 35,616 shares during the last quarter. Finally, CENTRAL TRUST Co grew its position in Wheaton Precious Metals by 2,400.0% in the 4th quarter. CENTRAL TRUST Co now owns 1,250 shares of the company’s stock valued at $62,000 after buying an additional 1,200 shares during the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Wheaton Precious Metals Stock Down 2.1 %

NYSE:WPM opened at $51.53 on Tuesday. The company has a market capitalization 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 Corp. has a 52-week low of $38.37 and a 52-week high of $54.30. The stock has a fifty day simple moving average of $45.98 and a 200-day simple moving average of $46.15.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, March 14th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.04. The business had revenue of $313.47 million during the quarter, compared to the consensus estimate of $284.29 million. Wheaton Precious Metals had a return on equity of 7.76% and a net margin of 52.92%. As a group, equities 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 paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Tuesday, April 2nd. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.15. Wheaton Precious Metals’s payout ratio is 52.10%.

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.