Manatuck Hill Partners LLC Sells 7,000 Shares of Wheaton Precious Metals Corp. $WPM

Manatuck Hill Partners LLC lessened its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 46.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,000 shares of the company’s stock after selling 7,000 shares during the quarter. Manatuck Hill Partners LLC’s holdings in Wheaton Precious Metals were worth $940,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Wheaton Precious Metals by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 19,079,029 shares of the company’s stock worth $2,242,969,000 after purchasing an additional 289,939 shares during the period. Van ECK Associates Corp boosted its position in Wheaton Precious Metals by 10.7% during the fourth quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company’s stock worth $1,700,517,000 after purchasing an additional 1,402,092 shares during the period. Capital International Investors boosted its position in Wheaton Precious Metals by 1.2% during the fourth quarter. Capital International Investors now owns 7,595,725 shares of the company’s stock worth $892,650,000 after purchasing an additional 93,599 shares during the period. Norges Bank bought a new position in Wheaton Precious Metals during the fourth quarter worth about $864,977,000. Finally, TD Asset Management Inc boosted its position in Wheaton Precious Metals by 0.5% during the fourth quarter. TD Asset Management Inc now owns 7,285,275 shares of the company’s stock worth $857,598,000 after purchasing an additional 33,221 shares during the period. Institutional investors own 70.34% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on WPM shares. Scotiabank increased their target price on shares of Wheaton Precious Metals from $178.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Wall Street Zen lowered shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. UBS Group upgraded shares of 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. TD Securities raised their price objective on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Finally, BMO Capital Markets initiated coverage on shares of 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. Thirteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and an average target price of $155.64.

Wheaton Precious Metals Trading Down 1.7%

WPM stock opened at $126.01 on Thursday. The firm has a 50 day moving average of $132.27 and a 200-day moving average of $132.38. 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 $57.22 billion, a P/E ratio of 31.82, a price-to-earnings-growth ratio of 2.42 and a beta of 0.51.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Thursday, May 7th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $868.35 million. During the same period last year, the business earned $0.55 earnings per share. Wheaton Precious Metals’s revenue was up 91.7% compared to the same quarter last year. Sell-side analysts predict that Wheaton Precious Metals Corp. will post 4.98 EPS for the current year.

Wheaton Precious Metals Announces Dividend

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

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.