Te Ahumairangi Investment Management Ltd Cuts Position in Wheaton Precious Metals Corp. $WPM

Te Ahumairangi Investment Management Ltd decreased its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 12.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,152 shares of the company’s stock after selling 5,027 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in Wheaton Precious Metals were worth $4,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Concurrent Investment Advisors LLC increased its holdings in Wheaton Precious Metals by 1.9% in the 4th quarter. Concurrent Investment Advisors LLC now owns 4,203 shares of the company’s stock worth $494,000 after buying an additional 78 shares during the period. Gables Capital Management Inc. lifted its stake 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 valued at $127,000 after acquiring an additional 79 shares during the period. Focus Financial Network Inc. lifted its stake 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 valued at $388,000 after acquiring an additional 81 shares during the period. J.W. Cole Advisors Inc. boosted its holdings in shares of Wheaton Precious Metals by 0.8% in the 4th quarter. J.W. Cole Advisors Inc. now owns 11,926 shares of the company’s stock valued at $1,343,000 after acquiring an additional 91 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. boosted its holdings in shares of Wheaton Precious Metals by 1.7% in the 4th quarter. Jamison Private Wealth Management Inc. now owns 5,375 shares of the company’s stock valued at $632,000 after acquiring an additional 92 shares during the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

Shares of NYSE WPM opened at $112.58 on Friday. The company has a market capitalization of $51.12 billion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 2.03 and a beta of 0.51. The company’s fifty day moving average price is $133.22 and its 200 day moving average price is $131.84. Wheaton Precious Metals Corp. has a 1 year low of $85.59 and a 1 year high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last released 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 during the quarter, compared to analysts’ expectations of $868.35 million. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The firm’s revenue for the quarter was up 91.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.55 earnings per share. On average, equities analysts expect that Wheaton Precious Metals Corp. will post 4.98 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

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

Analyst Upgrades and Downgrades

WPM has been the subject of several recent research reports. Wall Street Zen cut shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Scotiabank increased their price target 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. UBS Group upgraded Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 price objective for the company in a research note on Friday, March 27th. TD Cowen boosted their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a report on Monday, March 16th. Finally, Zacks Research downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Thirteen investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $155.64.

Wheaton Precious Metals Company 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.