Wheaton Precious Metals Corp. $WPM is Hendley & Co. Inc.’s 6th Largest Position

Hendley & Co. Inc. cut its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 11.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 93,941 shares of the company’s stock after selling 12,410 shares during the quarter. Wheaton Precious Metals makes up approximately 4.6% of Hendley & Co. Inc.’s investment portfolio, making the stock its 6th largest position. Hendley & Co. Inc.’s holdings in Wheaton Precious Metals were worth $12,307,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of WPM. AQR Capital Management LLC purchased a new stake in Wheaton Precious Metals during the first quarter worth $331,000. Focus Partners Wealth raised its position in shares of Wheaton Precious Metals by 10.7% in the first quarter. Focus Partners Wealth now owns 11,223 shares of the company’s stock worth $871,000 after acquiring an additional 1,081 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Wheaton Precious Metals in the first quarter worth about $209,000. Sivia Capital Partners LLC purchased a new stake in shares of Wheaton Precious Metals during the 2nd quarter worth about $239,000. Finally, Rhumbline Advisers boosted its stake in shares of Wheaton Precious Metals by 28.3% during the 2nd quarter. Rhumbline Advisers now owns 2,952 shares of the company’s stock worth $265,000 after acquiring an additional 652 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WPM. Zacks Research lowered 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 on the stock in a research report on Friday, March 27th. Wall Street Zen lowered Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Scotiabank boosted their price objective on 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 Cowen boosted their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and a consensus price target of $155.64.

Wheaton Precious Metals Stock Down 0.7%

WPM stock opened at $121.72 on Tuesday. The stock has a market capitalization of $55.28 billion, a P/E ratio of 30.74, a P/E/G ratio of 2.31 and a beta of 0.51. The firm has a 50-day simple moving average of $131.26 and a 200-day simple moving average of $132.66. Wheaton Precious Metals Corp. has a 52 week low of $85.59 and a 52 week high of $165.76.

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

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were issued a dividend of $0.195 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio is presently 19.70%.

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.