Axxcess Wealth Management LLC Trims Stock Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Axxcess Wealth Management LLC lessened its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 4.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 46,362 shares of the company’s stock after selling 1,926 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Wheaton Precious Metals were worth $2,185,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in WPM. CVA Family Office LLC acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at $26,000. McGlone Suttner Wealth Management Inc. acquired a new position in Wheaton Precious Metals in the 4th quarter valued at about $31,000. Principal Securities Inc. acquired a new position in Wheaton Precious Metals in the 4th quarter valued at about $39,000. Fifth Third Bancorp increased its stake in Wheaton Precious Metals by 230.7% during the fourth quarter. Fifth Third Bancorp now owns 863 shares of the company’s stock worth $43,000 after purchasing an additional 602 shares during the period. Finally, St. Johns Investment Management Company LLC acquired a new stake in shares of Wheaton Precious Metals during the first quarter worth about $52,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on WPM shares. BMO Capital Markets lifted their price objective on shares of Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, May 21st. Jefferies Financial Group upped their price objective on Wheaton Precious Metals from $62.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Berenberg Bank lifted their target price on Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Bank of America upped their price target on Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Finally, CIBC lifted their price objective on Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $65.00.

Wheaton Precious Metals Stock Down 0.7 %

WPM traded down $0.44 on Friday, reaching $58.30. The company’s stock had a trading volume of 1,431,740 shares, compared to its average volume of 1,860,904. The company has a market capitalization of $26.44 billion, a price-to-earnings ratio of 44.85, a P/E/G ratio of 2.27 and a beta of 0.76. Wheaton Precious Metals Corp. has a fifty-two week low of $38.37 and a fifty-two week high of $63.06. The stock has a 50 day moving average of $55.81 and a two-hundred day moving average of $50.58.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, May 9th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.07. The business had revenue of $296.80 million during the quarter, compared to analysts’ expectations of $278.95 million. Wheaton Precious Metals had a net margin of 53.74% and a return on equity of 8.53%. During the same quarter in the prior year, the business posted $0.23 EPS. The company’s revenue for the quarter was up 38.7% on a year-over-year basis. As a group, analysts anticipate that Wheaton Precious Metals Corp. will post 1.36 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Wednesday, May 29th. Wheaton Precious Metals’s payout ratio is 47.69%.

About Wheaton Precious Metals

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.