Bowen Hanes & Co. Inc. Sells 23,455 Shares of Wheaton Precious Metals Corp. $WPM

Bowen Hanes & Co. Inc. reduced its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 3.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 594,385 shares of the company’s stock after selling 23,455 shares during the period. Wheaton Precious Metals accounts for approximately 1.8% of Bowen Hanes & Co. Inc.’s investment portfolio, making the stock its 20th biggest position. Bowen Hanes & Co. Inc.’s holdings in Wheaton Precious Metals were worth $69,852,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Concurrent Investment Advisors LLC raised its position in Wheaton Precious Metals by 1.9% during the 4th quarter. Concurrent Investment Advisors LLC now owns 4,203 shares of the company’s stock worth $494,000 after purchasing an additional 78 shares during the last quarter. Gables Capital Management Inc. raised its position in Wheaton Precious Metals by 7.9% during the 4th quarter. Gables Capital Management Inc. now owns 1,079 shares of the company’s stock worth $127,000 after purchasing an additional 79 shares during the last quarter. Focus Financial Network Inc. raised its position in Wheaton Precious Metals by 2.5% during the 4th quarter. Focus Financial Network Inc. now owns 3,305 shares of the company’s stock worth $388,000 after purchasing an additional 81 shares during the last quarter. Jamison Private Wealth Management Inc. raised its position in Wheaton Precious Metals by 1.7% during the 4th quarter. Jamison Private Wealth Management Inc. now owns 5,375 shares of the company’s stock worth $632,000 after purchasing an additional 92 shares during the last quarter. Finally, Capital Investment Advisors LLC raised its position in Wheaton Precious Metals by 3.9% during the 4th quarter. Capital Investment Advisors LLC now owns 2,460 shares of the company’s stock worth $289,000 after purchasing an additional 93 shares during the last quarter. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Price Performance

Shares of WPM opened at $125.09 on Thursday. The stock has a 50-day moving average of $134.21 and a 200-day moving average of $131.28. The company has a market cap of $56.80 billion, a PE ratio of 31.59, a P/E/G ratio of 2.46 and a beta of 0.51. Wheaton Precious Metals Corp. has a one year low of $85.59 and a one year high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, May 7th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.24 by $0.04. The company had revenue of $901.47 million during the quarter, compared to the consensus estimate 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 period last year, the business posted $0.55 EPS. Analysts expect that Wheaton Precious Metals Corp. will post 4.98 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th will be paid a $0.195 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $0.78 annualized dividend and a dividend yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 19.70%.

Analysts Set New Price Targets

WPM has been the subject of several research analyst reports. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. BMO Capital Markets initiated coverage on Wheaton Precious Metals in a research report on Thursday, April 9th. They issued an “outperform” rating and a $240.00 price objective for the company. UBS Group raised Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 price objective for the company in a research report on Friday, March 27th. Scotiabank lifted their price objective on Wheaton Precious Metals from $178.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Finally, Wall Street Zen lowered Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and a consensus target price of $155.64.

Wheaton Precious Metals Profile

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.