Wheaton Precious Metals Corp. $WPM Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC trimmed its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 3.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 392,856 shares of the company’s stock after selling 13,658 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Wheaton Precious Metals were worth $52,533,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of WPM. BlackRock Inc. bought a new stake in Wheaton Precious Metals during the 2nd quarter valued at $581,250,000. Canada Pension Plan Investment Board bought a new stake in shares of Wheaton Precious Metals during the second quarter worth about $351,708,000. Bank of America Corp DE bought a new stake in shares of Wheaton Precious Metals during the second quarter worth about $328,309,000. Legal & General Group Plc acquired a new position in Wheaton Precious Metals during the 2nd quarter valued at about $320,838,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Wheaton Precious Metals in the second quarter valued at approximately $310,738,000. 70.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on WPM shares. Scotiabank lowered their price target on Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 14th. Berenberg Bank set a $157.00 target price on shares of Wheaton Precious Metals in a research note on Tuesday, July 28th. Weiss Ratings raised shares of Wheaton Precious Metals from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, September 24th. Bank of America dropped their price target on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Finally, Jefferies Financial Group dropped their target price on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $166.91.

Wheaton Precious Metals Stock Performance

Wheaton Precious Metals stock traded up $3.25 during trading on Friday, hitting $138.22. The stock had a trading volume of 495,637 shares, compared to its average volume of 2,216,521. The stock’s 50 day moving average is $142.71 and its two-hundred day moving average is $131.12. Wheaton Precious Metals Corp. has a 1 year low of $92.57 and a 1 year high of $165.76. The stock has a market cap of $62.78 billion, a price-to-earnings ratio of 30.65, a price-to-earnings-growth ratio of 2.36 and a beta of 0.54. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.20.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.04. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%.The company had revenue of $878.00 million during the quarter, compared to the consensus estimate of $879.29 million. During the same quarter in the prior year, the company earned $0.63 EPS. The firm’s quarterly revenue was up 84.7% compared to the same quarter last year. As a group, analysts predict that Wheaton Precious Metals Corp. will post 4.79 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were paid a dividend of $0.1950 per share. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.78 annualized dividend and a yield of 0.6%. Wheaton Precious Metals’s payout ratio is currently 17.29%.

Wheaton Precious Metals Profile

Wheaton Precious Metals Corp. is a precious metals streaming company headquartered in Vancouver, Canada. Rather than operating mines directly, the company provides mining companies with upfront financing in exchange for the right to purchase a portion of the gold, silver, palladium, cobalt and other metals produced by designated mining operations at predetermined prices.

Wheaton’s streaming portfolio is supported by agreements with mining operations in the Americas and other regions, including Canada, the United States, Mexico, Peru, Brazil and Chile.