Renaissance Technologies LLC Trims Stock Holdings in Wheaton Precious Metals Corp (NYSE:WPM)

Renaissance Technologies LLC reduced its stake in Wheaton Precious Metals Corp (NYSE:WPM) by 40.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,127,197 shares of the company’s stock after selling 776,403 shares during the period. Renaissance Technologies LLC’s holdings in Wheaton Precious Metals were worth $27,257,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of WPM. FIL Ltd raised its holdings in Wheaton Precious Metals by 67.0% in the 1st quarter. FIL Ltd now owns 7,726,743 shares of the company’s stock valued at $183,924,000 after buying an additional 3,100,285 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in Wheaton Precious Metals during the first quarter worth about $47,856,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Wheaton Precious Metals by 50.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,211,766 shares of the company’s stock worth $53,604,000 after purchasing an additional 737,925 shares during the period. PCJ Investment Counsel Ltd. increased its stake in Wheaton Precious Metals by 107.0% during the first quarter. PCJ Investment Counsel Ltd. now owns 1,026,800 shares of the company’s stock worth $24,449,000 after purchasing an additional 530,780 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its stake in Wheaton Precious Metals by 56.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,186,277 shares of the company’s stock worth $20,628,000 after purchasing an additional 427,168 shares during the period. Hedge funds and other institutional investors own 54.04% of the company’s stock.

WPM has been the topic of a number of recent research reports. Credit Suisse Group boosted their price target on shares of Wheaton Precious Metals from $34.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Canaccord Genuity reiterated a “buy” rating on shares of Wheaton Precious Metals in a research note on Friday, August 23rd. GMP Securities lowered shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. ValuEngine lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Barclays upgraded shares of Wheaton Precious Metals from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $23.00 to $28.00 in a research note on Tuesday, July 16th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $31.78.

Shares of Wheaton Precious Metals stock traded down $0.93 on Friday, reaching $26.71. 3,801,506 shares of the company were exchanged, compared to its average volume of 2,945,680. Wheaton Precious Metals Corp has a 1-year low of $15.08 and a 1-year high of $30.90. The company has a market cap of $12.33 billion, a P/E ratio of 70.87, a price-to-earnings-growth ratio of 10.32 and a beta of -0.03. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.65 and a quick ratio of 3.65. The stock’s 50 day moving average price is $27.81 and its 200-day moving average price is $24.01.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.10 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.10. Wheaton Precious Metals had a positive return on equity of 3.35% and a negative net margin of 3.33%. The business had revenue of $189.47 million during the quarter, compared to the consensus estimate of $194.90 million. During the same period in the previous year, the company posted $0.16 earnings per share. The business’s revenue for the quarter was down 10.8% on a year-over-year basis. On average, research analysts predict that Wheaton Precious Metals Corp will post 0.54 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Friday, August 23rd were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Thursday, August 22nd. Wheaton Precious Metals’s dividend payout ratio is presently 75.00%.

About Wheaton Precious Metals

Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells silver and gold ores. It has agreements for 19 operating mines and 9 development stage projects. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp.

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

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