Franklin Resources Inc. Cuts Stake in Wheaton Precious Metals Corp. (NYSE:WPM)

Franklin Resources Inc. trimmed its position in shares of Wheaton Precious Metals Corp. (NYSE:WPMGet Rating) by 68.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,329,328 shares of the company’s stock after selling 5,002,744 shares during the quarter. Franklin Resources Inc. owned about 0.52% of Wheaton Precious Metals worth $83,923,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Veriti Management LLC lifted its stake in Wheaton Precious Metals by 11.6% during the 2nd quarter. Veriti Management LLC now owns 10,431 shares of the company’s stock valued at $376,000 after acquiring an additional 1,087 shares during the period. Moerus Capital Management LLC lifted its stake in Wheaton Precious Metals by 40.0% during the 1st quarter. Moerus Capital Management LLC now owns 807,420 shares of the company’s stock valued at $38,417,000 after acquiring an additional 230,890 shares during the period. Distillate Capital Partners LLC lifted its stake in Wheaton Precious Metals by 11.3% during the 1st quarter. Distillate Capital Partners LLC now owns 5,517 shares of the company’s stock valued at $262,000 after acquiring an additional 558 shares during the period. Quent Capital LLC bought a new position in Wheaton Precious Metals during the 1st quarter valued at about $114,000. Finally, Banque Cantonale Vaudoise lifted its stake in Wheaton Precious Metals by 3.2% during the 2nd quarter. Banque Cantonale Vaudoise now owns 14,675 shares of the company’s stock valued at $529,000 after acquiring an additional 454 shares during the period. 56.62% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Trading Up 1.0 %

NYSE WPM opened at $38.59 on Thursday. Wheaton Precious Metals Corp. has a 12 month low of $28.62 and a 12 month high of $51.90. The stock has a market cap of $17.44 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 6.49 and a beta of 0.46. The company’s 50 day moving average is $33.41 and its two-hundred day moving average is $35.25.

Wheaton Precious Metals (NYSE:WPMGet Rating) last released its earnings results on Thursday, November 3rd. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). Wheaton Precious Metals had a return on equity of 8.35% and a net margin of 71.79%. The firm had revenue of $218.84 million for the quarter, compared to the consensus estimate of $237.90 million. Sell-side analysts forecast that Wheaton Precious Metals Corp. will post 1.18 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 21st will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Friday, November 18th. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 34.09%.

Analyst Ratings Changes

WPM has been the topic of several research analyst reports. Stifel Nicolaus lowered their target price on shares of Wheaton Precious Metals from C$66.50 to C$64.00 in a research note on Wednesday, October 19th. The Goldman Sachs Group initiated coverage on shares of Wheaton Precious Metals in a research note on Monday, September 12th. They issued a “buy” rating on the stock. TD Securities lowered their price objective on shares of Wheaton Precious Metals from $47.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, November 8th. Barclays lowered their price objective on shares of Wheaton Precious Metals from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, October 17th. Finally, StockNews.com initiated coverage on shares of Wheaton Precious Metals in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.43.

About Wheaton Precious Metals

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Wheaton Precious Metals Corp., a streaming company, primarily sells precious metals in Canada and internationally. The company sells gold, silver, palladium, and cobalt deposits. It has a portfolio of interests in the 23 operating mines and 13 development projects. The company was formerly known as Silver Wheaton Corp.

See Also

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Institutional Ownership by Quarter for Wheaton Precious Metals (NYSE:WPM)

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