Wheaton Precious Metals Corp. $WPM Stock Holdings Reduced by Mad River Investors

Mad River Investors reduced its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 8.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 89,271 shares of the company’s stock after selling 8,333 shares during the quarter. Wheaton Precious Metals comprises 4.2% of Mad River Investors’ portfolio, making the stock its 6th biggest holding. Mad River Investors’ holdings in Wheaton Precious Metals were worth $11,695,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Assetmark Inc. lifted its position in shares of Wheaton Precious Metals by 144.4% during the 4th quarter. Assetmark Inc. now owns 220 shares of the company’s stock valued at $26,000 after acquiring an additional 130 shares during the period. Harvest Fund Management Co. Ltd grew its holdings in shares of Wheaton Precious Metals by 100.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock worth $27,000 after acquiring an additional 117 shares during the period. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Wheaton Precious Metals in the 4th quarter worth approximately $28,000. Navalign LLC purchased a new position in Wheaton Precious Metals in the 4th quarter valued at approximately $30,000. Finally, Eagle Bay Advisors LLC purchased a new position in Wheaton Precious Metals in the 4th quarter valued at approximately $32,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on WPM. 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 research report on Monday, March 16th. TD Cowen raised their price target 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. UBS Group raised Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 price target for the company in a research note on Friday, March 27th. 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. Finally, Zacks Research cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $155.64.

Wheaton Precious Metals Price Performance

Shares of Wheaton Precious Metals stock opened at $110.77 on Tuesday. Wheaton Precious Metals Corp. has a 1 year low of $85.59 and a 1 year high of $165.76. The business has a 50 day moving average price of $127.98 and a 200 day moving average price of $132.84. The company has a market capitalization of $50.30 billion, a P/E ratio of 27.97, a P/E/G ratio of 2.13 and a beta of 0.51.

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

Wheaton Precious Metals Dividend Announcement

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

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.