Axxcess Wealth Management LLC Sells 1,970 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Axxcess Wealth Management LLC cut its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 4.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,392 shares of the company’s stock after selling 1,970 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Wheaton Precious Metals were worth $2,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of WPM. Principal Securities Inc. purchased a new stake in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $39,000. Dimensional Fund Advisors LP boosted its position in Wheaton Precious Metals by 4.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 528,581 shares of the company’s stock valued at $26,081,000 after buying an additional 24,676 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in Wheaton Precious Metals by 40.8% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 12,575 shares of the company’s stock valued at $620,000 after buying an additional 3,646 shares during the period. Norges Bank bought a new stake in Wheaton Precious Metals in the 4th quarter worth $387,481,000. Finally, Balentine LLC purchased a new position in shares of Wheaton Precious Metals in the fourth quarter valued at about $203,000. 70.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WPM has been the subject of a number of analyst reports. Bank of America increased their target price on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Jefferies Financial Group lifted their price objective 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. CIBC upped their target price on Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. BMO Capital Markets lifted their price target on shares of Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, May 21st. Finally, TD Securities reduced 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 report on Thursday, August 15th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.50.

Wheaton Precious Metals Trading Down 0.9 %

Shares of WPM stock opened at $61.71 on Wednesday. The company’s fifty day moving average price is $59.44 and its 200-day moving average price is $54.32. The stock has a market cap of $27.99 billion, a PE ratio of 47.47, a price-to-earnings-growth ratio of 2.26 and a beta of 0.78. Wheaton Precious Metals Corp. has a 12 month low of $38.37 and a 12 month high of $63.13.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, topping 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 business had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. During the same quarter in the previous year, the firm posted $0.31 earnings per share. Wheaton Precious Metals’s quarterly revenue was up 12.9% on a year-over-year basis. On average, sell-side analysts forecast that Wheaton Precious Metals Corp. will post 1.4 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were paid a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 annualized dividend and a dividend yield of 1.00%. 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.