Armor Advisors L.L.C. Cuts Stock Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Armor Advisors L.L.C. decreased its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 24.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 77,064 shares of the company’s stock after selling 24,300 shares during the quarter. Wheaton Precious Metals makes up 3.0% of Armor Advisors L.L.C.’s portfolio, making the stock its 10th largest holding. Armor Advisors L.L.C.’s holdings in Wheaton Precious Metals were worth $4,040,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Ridgewood Investments LLC acquired a new position in shares of Wheaton Precious Metals during the second quarter valued at approximately $31,000. Abich Financial Wealth Management LLC bought a new position in Wheaton Precious Metals during the 2nd quarter valued at $31,000. St. Johns Investment Management Company LLC acquired a new position in shares of Wheaton Precious Metals during the 1st quarter valued at $52,000. Western Pacific Wealth Management LP raised its stake 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 buying an additional 218 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings 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 valued at $65,000 after buying an additional 253 shares during the period. 70.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on WPM. Bank of America lifted their target price on Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Jefferies Financial Group lifted their price objective on shares of Wheaton Precious Metals from $62.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Berenberg Bank increased their target price on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. TD Securities reduced their target price on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Finally, Raymond James upped their price target on Wheaton Precious Metals from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $68.63.

Wheaton Precious Metals Stock Up 1.1 %

Shares of NYSE:WPM opened at $64.14 on Thursday. The company’s fifty day moving average is $59.86 and its two-hundred day moving average is $55.18. The company has a market cap of $29.10 billion, a P/E ratio of 49.34, a price-to-earnings-growth ratio of 2.27 and a beta of 0.78. Wheaton Precious Metals Corp. has a 12-month low of $38.37 and a 12-month high of $64.48.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The firm had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. During the same period in the previous year, the firm earned $0.31 earnings per share. Wheaton Precious Metals’s quarterly revenue was up 12.9% on a year-over-year basis. Equities research analysts anticipate that Wheaton Precious Metals Corp. will post 1.41 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is 47.69%.

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.