Fideuram Intesa Sanpaolo Private Banking S.P.A. Trims Stock Position in Wheaton Precious Metals Corp. $WPM

Fideuram Intesa Sanpaolo Private Banking S.P.A. reduced its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 28.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,116 shares of the company’s stock after selling 11,845 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Wheaton Precious Metals were worth $3,814,000 at the end of the most recent reporting period.

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

Wheaton Precious Metals Stock Down 0.1%

Shares of Wheaton Precious Metals stock opened at $115.58 on Friday. The company has a market cap of $52.49 billion, a price-to-earnings ratio of 29.19, a price-to-earnings-growth ratio of 2.18 and a beta of 0.55. The company’s 50 day moving average is $125.32 and its 200 day moving average is $132.67. Wheaton Precious Metals Corp. has a twelve month low of $85.59 and a twelve month high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, May 7th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. The business 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 firm’s revenue was up 91.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 EPS. Sell-side analysts expect that Wheaton Precious Metals Corp. will post 4.99 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

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 $0.195 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.78 dividend on an annualized basis and a yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio is currently 19.70%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. TD Securities increased their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, March 16th. UBS Group decreased their target price on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday. BMO Capital Markets assumed coverage on Wheaton Precious Metals in a research report on Thursday, April 9th. They issued an “outperform” rating and a $240.00 price target on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday. Finally, Wall Street Zen lowered Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and an average target price of $154.73.

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.