Wheaton Precious Metals Corp. (NYSE:WPM) Position Lessened by Beddow Capital Management Inc.

Beddow Capital Management Inc. trimmed its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 0.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 95,166 shares of the company’s stock after selling 225 shares during the quarter. Wheaton Precious Metals makes up about 2.4% of Beddow Capital Management Inc.’s investment portfolio, making the stock its 19th largest holding. Beddow Capital Management Inc.’s holdings in Wheaton Precious Metals were worth $5,813,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Ridgewood Investments LLC acquired a new stake in shares of Wheaton Precious Metals in the second quarter valued at approximately $31,000. Abich Financial Wealth Management LLC acquired a new position in Wheaton Precious Metals during the 2nd quarter worth $31,000. Sunbelt Securities Inc. bought a new position in shares of Wheaton Precious Metals in the second quarter worth $47,000. St. Johns Investment Management Company LLC acquired a new position in shares of Wheaton Precious Metals during the third quarter valued at $48,000. Finally, Western Pacific Wealth Management LP lifted its holdings in 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 purchasing an additional 218 shares during the period. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

Shares of NYSE WPM opened at $60.90 on Tuesday. The business’s 50-day simple moving average is $62.81 and its 200-day simple moving average is $58.93. Wheaton Precious Metals Corp. has a 52 week low of $38.57 and a 52 week high of $68.64. The firm has a market cap of $27.63 billion, a price-to-earnings ratio of 45.45, a P/E/G ratio of 2.14 and a beta of 0.77.

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

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders 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 yield of 1.02%. The ex-dividend date is Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is 46.27%.

Wall Street Analyst Weigh In

Several research firms have commented on WPM. UBS Group initiated coverage on shares of Wheaton Precious Metals in a research note on Monday. They set a “buy” rating and a $78.00 target price on the stock. Raymond James increased their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Scotiabank raised their target price on Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. TD Securities upped their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Jefferies Financial Group lifted their target price 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. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $71.67.

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.