First Eagle Investment Management LLC Cuts Stake in Wheaton Precious Metals Corp. (NYSE:WPM)

First Eagle Investment Management LLC reduced its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,047,037 shares of the company’s stock after selling 299,548 shares during the period. Wheaton Precious Metals comprises 2.4% of First Eagle Investment Management LLC’s investment portfolio, making the stock its 14th largest holding. First Eagle Investment Management LLC owned approximately 4.20% of Wheaton Precious Metals worth $1,071,205,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of Wheaton Precious Metals by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 955,540 shares of the company’s stock valued at $58,422,000 after purchasing an additional 36,970 shares during the last quarter. Swiss National Bank increased its position in shares of Wheaton Precious Metals by 0.8% in the 3rd quarter. Swiss National Bank now owns 1,370,800 shares of the company’s stock valued at $83,854,000 after purchasing an additional 10,600 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Wheaton Precious Metals in the 3rd quarter valued at approximately $1,287,000. CWA Asset Management Group LLC increased its position in shares of Wheaton Precious Metals by 19.7% in the 4th quarter. CWA Asset Management Group LLC now owns 163,514 shares of the company’s stock valued at $9,196,000 after purchasing an additional 26,924 shares during the last quarter. Finally, King Luther Capital Management Corp increased its position in shares of Wheaton Precious Metals by 48.1% in the 3rd quarter. King Luther Capital Management Corp now owns 1,501,037 shares of the company’s stock valued at $91,683,000 after purchasing an additional 487,190 shares during the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on WPM shares. Stifel Canada raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. UBS Group started coverage on shares of Wheaton Precious Metals in a report on Monday, November 18th. They issued a “buy” rating and a $78.00 target price for the company. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Buy” and an average target price of $71.67.

Wheaton Precious Metals Price Performance

Shares of NYSE:WPM opened at $72.98 on Friday. The stock has a market cap of $33.11 billion, a P/E ratio of 54.46, a P/E/G ratio of 1.91 and a beta of 0.77. The firm has a fifty day moving average price of $64.10 and a 200 day moving average price of $62.53. Wheaton Precious Metals Corp. has a 1-year low of $43.18 and a 1-year high of $73.77.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Thursday, March 13th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The business had revenue of $380.52 million for 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 revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 EPS. Sell-side analysts expect that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Company 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.