Axxcess Wealth Management LLC Has $2.49 Million Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Axxcess Wealth Management LLC cut its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,184 shares of the company’s stock after selling 302 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Wheaton Precious Metals were worth $2,485,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc acquired a new position in shares of Wheaton Precious Metals during the 4th quarter worth approximately $29,000. Promus Capital LLC acquired a new position in shares of Wheaton Precious Metals during the 4th quarter worth approximately $32,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Wheaton Precious Metals in the 4th quarter valued at $38,000. Laurel Wealth Advisors LLC acquired a new position in Wheaton Precious Metals in the 4th quarter valued at $39,000. Finally, Quintet Private Bank Europe S.A. acquired a new position in Wheaton Precious Metals in the 4th quarter valued at $39,000. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Up 1.0 %

Shares of WPM stock opened at $76.28 on Thursday. Wheaton Precious Metals Corp. has a twelve month low of $43.18 and a twelve month high of $77.93. The company has a market cap of $34.61 billion, a P/E ratio of 56.93, a P/E/G ratio of 1.91 and a beta of 0.76. The business has a fifty day simple moving average of $65.86 and a 200 day simple moving average of $62.99.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, March 13th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). The firm had revenue of $380.52 million during the quarter, compared to the consensus estimate of $395.74 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. Wheaton Precious Metals’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 earnings per share. As a group, equities research analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be given a $0.165 dividend. The ex-dividend date is Tuesday, April 1st. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a yield of 0.87%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 49.25%.

Wall Street Analyst Weigh In

A number of brokerages have commented on WPM. Stifel Canada raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Scotiabank increased their target price on Wheaton Precious Metals from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a report on Monday. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $72.44.

About Wheaton Precious Metals

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.