Knoll Capital Management LLC Cuts Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Knoll Capital Management LLC lowered its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 79.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 12,500 shares of the company’s stock after selling 47,500 shares during the quarter. Knoll Capital Management LLC’s holdings in Wheaton Precious Metals were worth $764,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Captrust Financial Advisors boosted its position in shares of Wheaton Precious Metals by 3.2% in the 3rd quarter. Captrust Financial Advisors now owns 43,718 shares of the company’s stock valued at $2,670,000 after purchasing an additional 1,362 shares during the period. Icon Wealth Advisors LLC acquired a new stake in shares of Wheaton Precious Metals in the 3rd quarter valued at approximately $185,000. Blueshift Asset Management LLC acquired a new stake in shares of Wheaton Precious Metals in the 3rd quarter valued at approximately $321,000. FMR LLC increased its stake in Wheaton Precious Metals by 33.7% in the 3rd quarter. FMR LLC now owns 14,665,913 shares of the company’s stock valued at $895,723,000 after purchasing an additional 3,692,594 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Wheaton Precious Metals by 22.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,456,230 shares of the company’s stock valued at $211,207,000 after purchasing an additional 634,843 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

Shares of NYSE WPM opened at $61.74 on Friday. Wheaton Precious Metals Corp. has a 1 year low of $38.57 and a 1 year high of $68.64. The firm has a market cap of $28.01 billion, a price-to-earnings ratio of 46.07, a PEG ratio of 1.73 and a beta of 0.77. The stock’s 50-day simple moving average is $62.99 and its 200-day simple moving average is $59.32.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. The business had revenue of $308.25 million for the quarter, compared to analyst estimates of $324.57 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. During the same period in the previous year, the company earned $0.27 earnings per share. As a group, research analysts predict that Wheaton Precious Metals Corp. will post 1.44 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 21st will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio is currently 46.27%.

Analysts Set New Price Targets

Several equities analysts have weighed in on WPM shares. UBS Group started coverage on Wheaton Precious Metals in a research report on Monday, November 18th. They set a “buy” rating and a $78.00 price target for the company. Stifel Canada cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. TD Securities lifted their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 8th. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Finally, Scotiabank boosted their price objective on Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and an average price target of $71.67.

Wheaton Precious Metals 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.