Federated Hermes Inc. Cuts Stock Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Federated Hermes Inc. lessened its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 37.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,183,249 shares of the company’s stock after selling 717,488 shares during the quarter. Federated Hermes Inc.’s holdings in Wheaton Precious Metals were worth $66,546,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of WPM. Versant Capital Management Inc acquired a new position in Wheaton Precious Metals during the fourth quarter worth $29,000. Promus Capital LLC purchased a new stake in Wheaton Precious Metals during the fourth quarter worth about $32,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Wheaton Precious Metals during the 4th quarter worth approximately $38,000. Headlands Technologies LLC grew its holdings in shares of Wheaton Precious Metals by 494.9% in the 4th quarter. Headlands Technologies LLC now owns 696 shares of the company’s stock worth $39,000 after acquiring an additional 579 shares during the period. Finally, Laurel Wealth Advisors LLC purchased a new stake in Wheaton Precious Metals during the fourth quarter worth $39,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Down 9.6 %

Shares of Wheaton Precious Metals stock opened at $70.99 on Monday. The firm has a market cap of $32.21 billion, a PE ratio of 52.98, a P/E/G ratio of 1.91 and a beta of 0.74. Wheaton Precious Metals Corp. has a fifty-two week low of $49.41 and a fifty-two week high of $80.43. The business’s fifty day moving average is $70.17 and its two-hundred day moving average is $64.32.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Thursday, March 13th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The business had revenue of $380.52 million during the quarter, compared to analyst estimates of $395.74 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The firm’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 earnings per share. Equities research analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Tuesday, April 1st. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.16. Wheaton Precious Metals’s dividend payout ratio (DPR) is 56.90%.

Wall Street Analysts Forecast Growth

WPM has been the topic of several recent research reports. Royal Bank of Canada boosted their price objective on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Friday. Stifel Canada raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Scotiabank lifted their price objective on Wheaton Precious Metals from $78.00 to $79.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 17th. Finally, Raymond James increased their target price on Wheaton Precious Metals from $75.00 to $88.00 and gave the company an “outperform” rating in a report on Friday. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Wheaton Precious Metals has an average rating of “Buy” and a consensus target price of $74.50.

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.