Ingalls & Snyder LLC Sells 1,250 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Ingalls & Snyder LLC lowered its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 18.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,410 shares of the company’s stock after selling 1,250 shares during the quarter. Ingalls & Snyder LLC’s holdings in Wheaton Precious Metals were worth $284,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of WPM. Fielder Capital Group LLC purchased a new position in Wheaton Precious Metals in the fourth quarter worth $1,046,000. King Luther Capital Management Corp acquired a new stake in Wheaton Precious Metals in the fourth quarter worth about $6,154,000. Marketfield Asset Management LLC increased its holdings in shares of Wheaton Precious Metals by 61.0% during the fourth quarter. Marketfield Asset Management LLC now owns 88,025 shares of the company’s stock valued at $4,343,000 after acquiring an additional 33,337 shares in the last quarter. Financial Sense Advisors Inc. increased its holdings in shares of Wheaton Precious Metals by 54.0% during the first quarter. Financial Sense Advisors Inc. now owns 56,836 shares of the company’s stock valued at $2,679,000 after acquiring an additional 19,924 shares in the last quarter. Finally, Mediolanum International Funds Ltd purchased a new position in shares of Wheaton Precious Metals in the 1st quarter valued at approximately $1,752,000. Institutional investors own 70.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on WPM shares. TD Securities dropped their target price on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Scotiabank upped their target price on 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 lifted their price target on Wheaton Precious Metals from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Jefferies Financial Group increased their price objective on Wheaton Precious Metals from $62.00 to $67.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, BMO Capital Markets lifted their target price on Wheaton Precious Metals from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and an average price target of $67.50.

Wheaton Precious Metals Stock Performance

Wheaton Precious Metals stock traded up $0.15 during midday trading on Friday, hitting $61.81. 751,036 shares of the company were exchanged, compared to its average volume of 1,742,665. Wheaton Precious Metals Corp. has a fifty-two week low of $38.37 and a fifty-two week high of $63.06. The firm has a market capitalization of $28.04 billion, a PE ratio of 47.55, a price-to-earnings-growth ratio of 2.30 and a beta of 0.76. The business has a fifty day simple moving average of $58.00 and a two-hundred day simple moving average of $52.74.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The firm had revenue of $299.06 million during the quarter, compared to analyst estimates of $309.54 million. During the same period in the previous year, the firm earned $0.31 EPS. The business’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, equities analysts expect that Wheaton Precious Metals Corp. will post 1.39 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Wednesday, August 21st. Wheaton Precious Metals’s payout ratio is currently 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.