Wheaton Precious Metals Corp. (NYSE:WPM) Position Reduced by Federated Hermes Inc.

Federated Hermes Inc. decreased its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 9.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,383,283 shares of the company’s stock after selling 137,695 shares during the quarter. Federated Hermes Inc. owned about 0.31% of Wheaton Precious Metals worth $72,512,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of WPM. AdvisorNet Financial Inc grew its stake in shares of Wheaton Precious Metals by 6.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company’s stock worth $175,000 after purchasing an additional 190 shares during the last quarter. Capital International Inc. CA lifted its stake in Wheaton Precious Metals by 2.5% during the first quarter. Capital International Inc. CA now owns 8,308 shares of the company’s stock valued at $392,000 after buying an additional 204 shares in the last quarter. Western Pacific Wealth Management LP increased its position in shares of Wheaton Precious Metals by 19.6% in the first quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock worth $63,000 after acquiring an additional 218 shares in the last quarter. Brookstone Capital Management increased its position in shares of Wheaton Precious Metals by 5.3% in the first quarter. Brookstone Capital Management now owns 4,771 shares of the company’s stock worth $225,000 after acquiring an additional 240 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of Wheaton Precious Metals by 25.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock valued at $65,000 after acquiring an additional 253 shares during the period. 70.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WPM. CIBC raised their target price on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. TD Securities dropped their price objective on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Berenberg Bank boosted their target price on Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Jefferies Financial Group upped their target price on Wheaton Precious Metals from $62.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Finally, Bank of America lifted their price target on Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and a consensus price target of $67.50.

Wheaton Precious Metals Trading Up 1.9 %

Shares of Wheaton Precious Metals stock opened at $62.54 on Friday. The stock has a market capitalization of $28.37 billion, a price-to-earnings ratio of 48.11, a PEG ratio of 2.18 and a beta of 0.78. Wheaton Precious Metals Corp. has a 1-year low of $38.37 and a 1-year high of $63.13. The firm has a fifty day simple moving average of $59.31 and a 200-day simple moving average of $53.97.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 earnings per share 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 during the quarter, compared to analysts’ expectations of $309.54 million. During the same quarter in the previous year, the firm earned $0.31 EPS. The firm’s revenue was up 12.9% compared to the same quarter last year. As a group, research analysts predict that Wheaton Precious Metals Corp. will post 1.4 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. Shareholders of record on Wednesday, August 21st were issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 47.69%.

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.