SCP Investment LP Has $232,000 Position in Wheaton Precious Metals Corp. (NYSE:WPM)

SCP Investment LP lessened its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 20.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,800 shares of the company’s stock after selling 1,000 shares during the period. SCP Investment LP’s holdings in Wheaton Precious Metals were worth $232,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Ridgewood Investments LLC bought a new position in Wheaton Precious Metals during the second quarter worth about $31,000. Abich Financial Wealth Management LLC acquired a new position in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $31,000. St. Johns Investment Management Company LLC bought a new stake in Wheaton Precious Metals in the 3rd quarter valued at $48,000. Sunbelt Securities Inc. acquired a new stake in Wheaton Precious Metals during the 2nd quarter valued at $47,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Wheaton Precious Metals by 25.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock valued at $65,000 after purchasing an additional 253 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Up 2.8 %

WPM stock opened at $62.60 on Wednesday. The company has a market cap of $28.40 billion, a PE ratio of 46.72, a price-to-earnings-growth ratio of 2.14 and a beta of 0.77. Wheaton Precious Metals Corp. has a 52 week low of $38.57 and a 52 week high of $68.64. The business has a 50-day simple moving average of $62.87 and a 200 day simple moving average of $59.00.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. The company had revenue of $308.25 million during the quarter, compared to the consensus estimate 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 in the prior year, the firm posted $0.27 EPS. On average, analysts anticipate that Wheaton Precious Metals Corp. will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 21st will be paid a $0.155 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.62 annualized dividend and a dividend yield of 0.99%. Wheaton Precious Metals’s payout ratio is 46.27%.

Analyst Ratings Changes

A number of analysts have recently issued reports on WPM shares. Raymond James raised their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. 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. Jefferies Financial Group lifted their price target on Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, October 4th. TD Securities upped their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $71.67.

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.