Wheaton Precious Metals Corp. $WPM Shares Sold by Te Ahumairangi Investment Management Ltd

Te Ahumairangi Investment Management Ltd trimmed its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 12.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,152 shares of the company’s stock after selling 5,027 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in Wheaton Precious Metals were worth $4,138,000 at the end of the most recent quarter.

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

Wheaton Precious Metals Trading Up 4.7%

Shares of WPM opened at $112.58 on Friday. Wheaton Precious Metals Corp. has a 12-month low of $85.59 and a 12-month high of $165.76. The firm has a market capitalization of $51.12 billion, a P/E ratio of 28.43, a P/E/G ratio of 2.03 and a beta of 0.51. The firm has a 50-day moving average price of $133.22 and a 200 day moving average price of $131.84.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.04. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The company had revenue of $901.47 million for the quarter, compared to analyst estimates of $868.35 million. During the same period in the previous year, the business posted $0.55 EPS. Wheaton Precious Metals’s revenue was up 91.7% on a year-over-year basis. Equities research analysts predict that Wheaton Precious Metals Corp. will post 4.98 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WPM. TD Cowen raised their price target on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Wall Street Zen downgraded shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. TD Securities boosted their target price 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 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 report on Friday, March 27th. Finally, BMO Capital Markets began coverage on Wheaton Precious Metals in a report on Thursday, April 9th. They issued an “outperform” rating and a $240.00 price target for the company. Thirteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. 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.