Stifel Financial Corp Reduces Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Stifel Financial Corp lowered its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 1.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 84,102 shares of the company’s stock after selling 1,204 shares during the period. Stifel Financial Corp’s holdings in Wheaton Precious Metals were worth $5,137,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. CWM LLC lifted its holdings in shares of Wheaton Precious Metals by 10.7% during the second quarter. CWM LLC now owns 3,040 shares of the company’s stock worth $159,000 after purchasing an additional 295 shares during the period. Sequoia Financial Advisors LLC purchased a new position in Wheaton Precious Metals during the 2nd quarter worth approximately $234,000. Wealth Enhancement Advisory Services LLC lifted its stake in Wheaton Precious Metals by 3.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 39,718 shares of the company’s stock valued at $2,082,000 after acquiring an additional 1,444 shares during the period. Blue Trust Inc. boosted its holdings in shares of Wheaton Precious Metals by 25.0% in the 2nd quarter. Blue Trust Inc. now owns 5,292 shares of the company’s stock valued at $277,000 after acquiring an additional 1,059 shares during the last quarter. Finally, Raymond James & Associates increased its stake in shares of Wheaton Precious Metals by 0.3% in the second quarter. Raymond James & Associates now owns 549,654 shares of the company’s stock worth $28,813,000 after acquiring an additional 1,673 shares during the period. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Performance

Wheaton Precious Metals stock opened at $60.56 on Friday. The stock has a market capitalization of $27.47 billion, a P/E ratio of 45.19, a P/E/G ratio of 1.77 and a beta of 0.75. The company’s fifty day moving average price is $62.99 and its 200 day moving average price is $59.79. 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 announced its earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting 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 business had revenue of $308.25 million for the quarter, compared to analyst estimates of $324.57 million. During the same quarter last year, the business earned $0.27 earnings per share. Sell-side analysts predict that Wheaton Precious Metals Corp. will post 1.44 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Thursday, November 21st were issued a dividend of $0.155 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.02%. Wheaton Precious Metals’s payout ratio is currently 46.27%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Scotiabank upped their price target on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. TD Securities upped their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. 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 report on Friday, October 25th. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Finally, Stifel Canada lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $71.67.

Wheaton Precious Metals Company 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.