Moran Wealth Management LLC Sells 1,176 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Moran Wealth Management LLC trimmed its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,408 shares of the company’s stock after selling 1,176 shares during the quarter. Moran Wealth Management LLC’s holdings in Wheaton Precious Metals were worth $1,247,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. MTM Investment Management LLC acquired a new stake in Wheaton Precious Metals during the 3rd quarter valued at $202,000. Ontario Teachers Pension Plan Board acquired a new stake in shares of Wheaton Precious Metals in the third quarter valued at $212,000. First Horizon Advisors Inc. bought a new position in shares of Wheaton Precious Metals in the third quarter valued at about $67,000. PNC Financial Services Group Inc. lifted its position in Wheaton Precious Metals by 5.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 33,409 shares of the company’s stock worth $2,041,000 after buying an additional 1,768 shares in the last quarter. Finally, Prospera Financial Services Inc increased its position in Wheaton Precious Metals by 0.8% in the 3rd quarter. Prospera Financial Services Inc now owns 87,251 shares of the company’s stock valued at $5,329,000 after acquiring an additional 675 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Up 0.9 %

Shares of WPM stock opened at $63.40 on Friday. The company has a market capitalization of $28.76 billion, a price-to-earnings ratio of 47.31, a P/E/G ratio of 2.28 and a beta of 0.77. The firm has a fifty day moving average of $62.99 and a 200-day moving average of $59.06. Wheaton Precious Metals Corp. has a 12-month low of $38.57 and a 12-month high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The company had revenue of $308.25 million during the quarter, compared to the consensus estimate of $324.57 million. During the same period in the prior year, the business posted $0.27 EPS. On average, equities analysts expect that Wheaton Precious Metals Corp. will post 1.44 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.62 annualized dividend and a dividend yield of 0.98%. Wheaton Precious Metals’s dividend payout ratio is presently 46.27%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on WPM shares. National Bank Financial upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Stifel Canada cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Raymond James raised their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, October 25th. UBS Group began coverage on Wheaton Precious Metals in a report on Monday. They set a “buy” rating and a $78.00 price objective for the company. Finally, TD Securities lifted their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.67.

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.