Sonora Investment Management Group LLC Sells 1,285 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Sonora Investment Management Group LLC trimmed its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 2.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 49,690 shares of the company’s stock after selling 1,285 shares during the period. Sonora Investment Management Group LLC’s holdings in Wheaton Precious Metals were worth $2,795,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. FMR LLC raised its stake in Wheaton Precious Metals by 33.7% during the third quarter. FMR LLC now owns 14,665,913 shares of the company’s stock valued at $895,723,000 after buying an additional 3,692,594 shares during the last quarter. Canoe Financial LP purchased a new stake in Wheaton Precious Metals during the 3rd quarter valued at about $113,017,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Wheaton Precious Metals by 1,865.2% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,245,534 shares of the company’s stock worth $76,061,000 after buying an additional 1,182,156 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of Wheaton Precious Metals by 90.5% in the second quarter. Clearbridge Investments LLC now owns 1,344,131 shares of the company’s stock worth $70,461,000 after buying an additional 638,425 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Wheaton Precious Metals by 22.5% during the third quarter. The Manufacturers Life Insurance Company now owns 3,456,230 shares of the company’s stock valued at $211,207,000 after buying an additional 634,843 shares during the last quarter. 70.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on WPM shares. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. UBS Group initiated coverage on Wheaton Precious Metals in a research report on Monday, November 18th. They issued a “buy” rating and a $78.00 target price for the company. TD Securities raised their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 8th. Stifel Canada lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Finally, Raymond James upped their price target on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Wheaton Precious Metals has an average rating of “Moderate Buy” and an average price target of $71.67.

Wheaton Precious Metals Stock Performance

NYSE WPM opened at $63.15 on Friday. The company has a market cap of $28.65 billion, a PE ratio of 47.13, a P/E/G ratio of 1.54 and a beta of 0.76. The firm’s 50 day moving average price is $59.33 and its 200-day moving average price is $60.62. Wheaton Precious Metals Corp. has a 52-week low of $38.57 and a 52-week high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. 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 previous year, the company posted $0.27 earnings per share. On average, analysts forecast that Wheaton Precious Metals Corp. will post 1.45 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is 46.27%.

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.