Federated Hermes Inc. Sells 165,173 Shares of Wheaton Precious Metals Corp. $WPM

Federated Hermes Inc. reduced its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 25.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 492,015 shares of the company’s stock after selling 165,173 shares during the quarter. Federated Hermes Inc.’s holdings in Wheaton Precious Metals were worth $55,027,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. J. Safra Sarasin Holding AG increased its holdings in shares of Wheaton Precious Metals by 38.5% during the 3rd quarter. J. Safra Sarasin Holding AG now owns 68,485 shares of the company’s stock worth $7,659,000 after purchasing an additional 19,050 shares during the period. Belpointe Asset Management LLC grew its position in Wheaton Precious Metals by 25.9% during the third quarter. Belpointe Asset Management LLC now owns 3,452 shares of the company’s stock worth $386,000 after buying an additional 710 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its position in Wheaton Precious Metals by 33.7% during the third quarter. B. Riley Wealth Advisors Inc. now owns 3,975 shares of the company’s stock worth $445,000 after buying an additional 1,003 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in Wheaton Precious Metals by 4.6% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 27,019 shares of the company’s stock valued at $3,022,000 after acquiring an additional 1,180 shares during the period. Finally, Sagespring Wealth Partners LLC acquired a new position in Wheaton Precious Metals in the 3rd quarter valued at approximately $246,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Performance

WPM opened at $152.73 on Friday. The firm has a market cap of $69.35 billion, a price-to-earnings ratio of 69.42, a PEG ratio of 1.43 and a beta of 0.52. The firm’s 50-day simple moving average is $122.12 and its 200-day simple moving average is $107.94. Wheaton Precious Metals Corp. has a twelve month low of $61.22 and a twelve month high of $160.36.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The firm had revenue of $476.26 million for the quarter, compared to analyst estimates of $495.53 million. Wheaton Precious Metals had a net margin of 54.72% and a return on equity of 13.32%. The company’s revenue for the quarter was up 54.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 earnings per share. As a group, sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 20th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Thursday, November 20th. Wheaton Precious Metals’s payout ratio is presently 30.00%.

Analyst Ratings Changes

WPM has been the topic of several recent research reports. Wall Street Zen raised Wheaton Precious Metals from a “hold” rating to a “buy” rating in a report on Sunday, January 18th. Zacks Research upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. UBS Group increased their price objective on shares of Wheaton Precious Metals from $116.00 to $118.00 and gave the company a “neutral” rating in a research note on Monday, December 1st. Royal Bank Of Canada raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $115.00 to $130.00 in a report on Wednesday, December 10th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Wheaton Precious Metals presently has an average rating of “Buy” and a consensus price target of $136.00.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.