Oppenheimer & Co. Inc. Cuts Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Oppenheimer & Co. Inc. decreased its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPMGet Rating) by 15.3% during the second quarter, Holdings Channel.com reports. The fund owned 8,279 shares of the company’s stock after selling 1,497 shares during the period. Oppenheimer & Co. Inc.’s holdings in Wheaton Precious Metals were worth $298,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Spears Abacus Advisors LLC raised its stake in shares of Wheaton Precious Metals by 2.0% during the 2nd quarter. Spears Abacus Advisors LLC now owns 137,381 shares of the company’s stock worth $4,950,000 after buying an additional 2,711 shares during the period. Bank of Nova Scotia raised its holdings in Wheaton Precious Metals by 0.4% in the 2nd quarter. Bank of Nova Scotia now owns 3,773,054 shares of the company’s stock valued at $135,939,000 after buying an additional 14,142 shares during the period. Mad River Investors grew its position in Wheaton Precious Metals by 0.6% in the 2nd quarter. Mad River Investors now owns 170,094 shares of the company’s stock valued at $6,128,000 after acquiring an additional 1,000 shares in the last quarter. Y Intercept Hong Kong Ltd grew its position in Wheaton Precious Metals by 400.0% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 44,466 shares of the company’s stock valued at $1,602,000 after acquiring an additional 35,572 shares in the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. grew its position in shares of Wheaton Precious Metals by 21.1% during the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 13,339 shares of the company’s stock worth $475,000 after buying an additional 2,325 shares in the last quarter. Hedge funds and other institutional investors own 56.62% of the company’s stock.

Analyst Ratings Changes

WPM has been the subject of several recent analyst reports. Barclays decreased their target price on Wheaton Precious Metals from $41.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday, October 17th. National Bank Financial decreased their target price on shares of Wheaton Precious Metals from C$68.00 to C$60.00 in a research report on Thursday, October 13th. Canaccord Genuity Group cut their price target on shares of Wheaton Precious Metals from C$68.00 to C$67.00 in a research note on Friday, August 19th. Stifel Nicolaus dropped their price target on shares of Wheaton Precious Metals from C$66.50 to C$64.00 in a research note on Wednesday, October 19th. Finally, The Goldman Sachs Group initiated coverage on shares of Wheaton Precious Metals in a report on Monday, September 12th. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.43.

Wheaton Precious Metals Price Performance

NYSE:WPM opened at $37.01 on Friday. The stock has a market cap of $16.73 billion, a P/E ratio of 21.03, a PEG ratio of 6.24 and a beta of 0.46. The company has a fifty day moving average price of $33.12 and a 200 day moving average price of $35.46. Wheaton Precious Metals Corp. has a one year low of $28.62 and a one year high of $51.90.

Wheaton Precious Metals (NYSE:WPMGet Rating) last posted its earnings results on Thursday, November 3rd. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $237.90 million. As a group, equities research analysts anticipate that Wheaton Precious Metals Corp. will post 1.19 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 21st will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 18th. This represents a $0.60 annualized dividend and a dividend yield of 1.62%. Wheaton Precious Metals’s dividend payout ratio is currently 34.09%.

Wheaton Precious Metals Profile

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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.

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

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