Wheaton Precious Metals Corp. (NYSE:WPM) Shares Sold by Sonora Investment Management Group LLC

Sonora Investment Management Group LLC decreased its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 5.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 46,905 shares of the company’s stock after selling 2,785 shares during the quarter. Sonora Investment Management Group LLC’s holdings in Wheaton Precious Metals were worth $3,641,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of WPM. Raymond James Financial Inc. purchased a new stake in Wheaton Precious Metals in the 4th quarter valued at $20,790,000. Sei Investments Co. increased its stake in Wheaton Precious Metals by 25.7% in the fourth quarter. Sei Investments Co. now owns 40,769 shares of the company’s stock valued at $2,293,000 after purchasing an additional 8,331 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Wheaton Precious Metals by 9.1% in the fourth quarter. Bank of New York Mellon Corp now owns 399,035 shares of the company’s stock valued at $22,442,000 after buying an additional 33,256 shares during the last quarter. Gotham Asset Management LLC boosted its stake in shares of Wheaton Precious Metals by 83.8% during the fourth quarter. Gotham Asset Management LLC now owns 6,324 shares of the company’s stock worth $356,000 after buying an additional 2,884 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Wheaton Precious Metals by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 993,432 shares of the company’s stock worth $55,889,000 after buying an additional 37,892 shares during the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WPM has been the subject of several analyst reports. UBS Group upped their price objective on Wheaton Precious Metals from $78.00 to $89.00 and gave the company a “buy” rating in a research note on Friday, April 11th. BMO Capital Markets started coverage on Wheaton Precious Metals in a report on Wednesday, April 16th. They set an “outperform” rating and a $129.00 price target for the company. Raymond James lifted their price objective on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, April 15th. National Bankshares reissued an “outperform” rating on shares of Wheaton Precious Metals in a research note on Wednesday, April 23rd. Finally, Wall Street Zen upgraded shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $86.90.

Wheaton Precious Metals Stock Up 0.4%

Shares of WPM opened at $89.05 on Tuesday. The company has a 50-day simple moving average of $82.46 and a 200-day simple moving average of $70.92. The company has a market capitalization of $40.41 billion, a PE ratio of 66.46, a P/E/G ratio of 1.91 and a beta of 0.46. Wheaton Precious Metals Corp. has a 52-week low of $51.96 and a 52-week high of $95.23.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.05. The firm had revenue of $470.41 million during the quarter, compared to the consensus estimate of $446.33 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The company’s quarterly revenue was up 58.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 EPS. On average, research analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be issued a dividend of $0.165 per share. The ex-dividend date is Wednesday, May 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.74%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 48.53%.

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.