Axa S.A. Cuts Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Axa S.A. decreased its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 23.8% in the second quarter, Holdings Channel reports. The institutional investor owned 313,734 shares of the company’s stock after selling 98,029 shares during the quarter. Axa S.A.’s holdings in Wheaton Precious Metals were worth $16,446,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Abich Financial Wealth Management LLC bought a new stake in shares of Wheaton Precious Metals during the second quarter valued at approximately $31,000. Toronto Dominion Bank increased its holdings in shares of Wheaton Precious Metals by 144.5% in the 2nd quarter. Toronto Dominion Bank now owns 554,003 shares of the company’s stock worth $29,041,000 after purchasing an additional 327,400 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Wheaton Precious Metals in the second quarter worth $658,000. Insigneo Advisory Services LLC bought a new position in shares of Wheaton Precious Metals during the second quarter valued at $469,000. Finally, Lombard Odier Asset Management Europe Ltd boosted its position in shares of Wheaton Precious Metals by 74.0% during the second quarter. Lombard Odier Asset Management Europe Ltd now owns 335,908 shares of the company’s stock valued at $17,608,000 after buying an additional 142,833 shares during the last quarter. 70.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on WPM shares. Bank of America upped their target price on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Scotiabank increased their price objective on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Berenberg Bank raised their target price on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. CIBC increased their price target on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Finally, TD Securities cut their price objective on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and an average target price of $68.63.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock opened at $62.45 on Friday. The firm’s 50 day moving average price is $59.98 and its 200-day moving average price is $55.36. Wheaton Precious Metals Corp. has a 1 year low of $38.37 and a 1 year high of $64.82. The stock has a market cap of $28.33 billion, a P/E ratio of 48.04, a PEG ratio of 2.31 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping 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 business had revenue of $299.06 million for the quarter, compared to analysts’ expectations of $309.54 million. During the same period in the prior year, the firm earned $0.31 EPS. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, equities analysts expect that Wheaton Precious Metals Corp. will post 1.42 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were paid a $0.155 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $0.62 dividend on an annualized basis and a yield of 0.99%. Wheaton Precious Metals’s dividend payout ratio is currently 47.69%.

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.