Sumitomo Mitsui Trust Group Inc. Sells 341 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Sumitomo Mitsui Trust Group Inc. reduced its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 5.1% during the 3rd quarter, Holdings Channel reports. The firm owned 6,340 shares of the company’s stock after selling 341 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Wheaton Precious Metals were worth $387,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ridgewood Investments LLC bought a new position in Wheaton Precious Metals during the second quarter worth about $31,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Wheaton Precious Metals in the 2nd quarter valued at about $31,000. St. Johns Investment Management Company LLC acquired a new stake in shares of Wheaton Precious Metals in the 3rd quarter valued at about $48,000. Sunbelt Securities Inc. acquired a new stake in shares of Wheaton Precious Metals in the 2nd quarter valued at about $47,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Wheaton Precious Metals by 25.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock valued at $65,000 after purchasing an additional 253 shares during the period. 70.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WPM has been the topic of several recent research reports. National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Stifel Canada downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Jefferies Financial Group lifted their price target on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Raymond James lifted their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, TD Securities lifted their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and an average target price of $71.67.

Wheaton Precious Metals Stock Performance

NYSE:WPM opened at $62.97 on Thursday. Wheaton Precious Metals Corp. has a 52-week low of $38.57 and a 52-week high of $68.64. The company has a market cap of $28.56 billion, a P/E ratio of 46.99, a P/E/G ratio of 2.14 and a beta of 0.77. The stock’s 50-day simple moving average is $62.95 and its 200 day simple moving average is $59.03.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The company had revenue of $308.25 million during the quarter, compared to analysts’ expectations of $324.57 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. As a group, equities analysts predict that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio is presently 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.