Wheaton Precious Metals Corp. (NYSE:WPM) Shares Sold by Bristlecone Advisors LLC

Bristlecone Advisors LLC cut its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 0.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,828 shares of the company’s stock after selling 405 shares during the period. Bristlecone Advisors LLC’s holdings in Wheaton Precious Metals were worth $3,776,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WPM. DekaBank Deutsche Girozentrale lifted its holdings in Wheaton Precious Metals by 1.6% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,628,243 shares of the company’s stock worth $101,927,000 after buying an additional 25,952 shares during the last quarter. Benedict Financial Advisors Inc. purchased a new stake in shares of Wheaton Precious Metals during the 3rd quarter worth approximately $225,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Wheaton Precious Metals by 27.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 50,782 shares of the company’s stock valued at $3,102,000 after buying an additional 11,064 shares in the last quarter. Arkadios Wealth Advisors grew its position in shares of Wheaton Precious Metals by 1.0% in the 3rd quarter. Arkadios Wealth Advisors now owns 21,575 shares of the company’s stock valued at $1,318,000 after buying an additional 210 shares during the last quarter. Finally, Forsta AP Fonden raised its stake in Wheaton Precious Metals by 5.6% during the 3rd quarter. Forsta AP Fonden now owns 97,400 shares of the company’s stock worth $5,955,000 after acquiring an additional 5,200 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Price Performance

Shares of WPM stock opened at $66.13 on Friday. The business’s fifty day moving average price is $62.01 and its 200 day moving average price is $57.67. The firm has a market capitalization of $29.99 billion, a PE ratio of 50.87, a P/E/G ratio of 2.48 and a beta of 0.78. Wheaton Precious Metals Corp. has a 1-year low of $38.57 and a 1-year high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $309.54 million. During the same quarter last year, the firm posted $0.31 EPS. The business’s revenue was up 12.9% compared to the same quarter last year. Equities research analysts expect that Wheaton Precious Metals Corp. will post 1.45 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 0.94%. The ex-dividend date was Wednesday, August 21st. Wheaton Precious Metals’s payout ratio is currently 47.69%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on WPM shares. Raymond James raised their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday. Stifel Canada lowered Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Scotiabank increased their price objective on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group lifted their price objective on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, October 4th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and an average target price of $70.25.

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.