Hoey Investments Inc. Trims Stock Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Hoey Investments Inc. lowered its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 50.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 650 shares of the company’s stock after selling 650 shares during the period. Hoey Investments Inc.’s holdings in Wheaton Precious Metals were worth $37,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of WPM. Van ECK Associates Corp increased its stake in shares of Wheaton Precious Metals by 6.4% in the 4th quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company’s stock worth $1,154,843,000 after acquiring an additional 1,231,999 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Wheaton Precious Metals by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 17,672,518 shares of the company’s stock valued at $994,733,000 after purchasing an additional 281,123 shares in the last quarter. Norges Bank purchased a new position in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $472,648,000. TD Asset Management Inc. boosted its position in shares of Wheaton Precious Metals by 9.6% in the 4th quarter. TD Asset Management Inc. now owns 7,156,818 shares of the company’s stock worth $402,627,000 after purchasing an additional 629,743 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC grew its stake in shares of Wheaton Precious Metals by 6.4% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 2,931,246 shares of the company’s stock worth $164,853,000 after buying an additional 177,071 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Up 1.0 %

WPM opened at $77.64 on Tuesday. Wheaton Precious Metals Corp. has a twelve month low of $47.02 and a twelve month high of $78.10. The firm has a 50 day moving average price of $68.84 and a 200-day moving average price of $63.92. The stock has a market capitalization of $35.22 billion, a price-to-earnings ratio of 57.94, a PEG ratio of 1.91 and a beta of 0.77.

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

Wheaton Precious Metals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.66 annualized dividend and a dividend yield of 0.85%. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.16. Wheaton Precious Metals’s dividend payout ratio is presently 56.90%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Stifel Canada raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Scotiabank upped their price target on shares of Wheaton Precious Metals from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 17th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $72.44.

Wheaton Precious Metals Company 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.