Wheaton Precious Metals Corp. $WPM Stake Cut by Mad River Investors

Mad River Investors cut its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 8.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 89,271 shares of the company’s stock after selling 8,333 shares during the quarter. Wheaton Precious Metals comprises approximately 4.2% of Mad River Investors’ portfolio, making the stock its 6th largest holding. Mad River Investors’ holdings in Wheaton Precious Metals were worth $11,695,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Assetmark Inc. grew its holdings in shares of Wheaton Precious Metals by 144.4% during the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock worth $26,000 after buying an additional 130 shares during the last quarter. Harvest Fund Management Co. Ltd increased its position in Wheaton Precious Metals by 100.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after acquiring an additional 117 shares during the period. Cary Street Partners Investment Advisory LLC purchased a new stake in Wheaton Precious Metals during the 4th quarter valued at approximately $28,000. Navalign LLC purchased a new stake in Wheaton Precious Metals during the 4th quarter valued at approximately $30,000. Finally, Eagle Bay Advisors LLC acquired a new stake in Wheaton Precious Metals during the 4th quarter worth approximately $32,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Down 2.2%

NYSE WPM opened at $110.77 on Tuesday. The stock has a market capitalization of $50.30 billion, a P/E ratio of 27.97, a P/E/G ratio of 2.13 and a beta of 0.51. Wheaton Precious Metals Corp. has a 52-week low of $85.59 and a 52-week high of $165.76. The firm has a 50-day moving average price of $127.98 and a 200 day moving average price of $132.84.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.04. The company had revenue of $901.47 million for the quarter, compared to analyst estimates of $868.35 million. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The firm’s revenue for the quarter was up 91.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.55 EPS. On average, equities research analysts expect that Wheaton Precious Metals Corp. will post 4.99 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio is currently 19.70%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on WPM shares. Zacks Research downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. UBS Group upgraded Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 price target for the company in a research note on Friday, March 27th. TD Cowen increased their price target on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Scotiabank lifted their price objective on shares of Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Finally, TD Securities boosted their price objective on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $155.64.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.