Wheaton Precious Metals Corp. $WPM is Horizon Kinetics Asset Management LLC’s 3rd Largest Position

Horizon Kinetics Asset Management LLC lowered its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 10.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,493,518 shares of the company’s stock after selling 298,594 shares during the quarter. Wheaton Precious Metals comprises approximately 4.0% of Horizon Kinetics Asset Management LLC’s holdings, making the stock its 3rd largest holding. Horizon Kinetics Asset Management LLC’s holdings in Wheaton Precious Metals were worth $293,038,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Wheaton Precious Metals by 1.5% during the 4th 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. Capital International Investors grew its holdings in shares of Wheaton Precious Metals by 1.2% during the 4th 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 purchased a new stake in shares of Wheaton Precious Metals during the 4th quarter worth about $864,977,000. TD Asset Management Inc grew its holdings in shares of Wheaton Precious Metals by 0.5% during the 4th 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. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Wheaton Precious Metals by 36.2% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,955,810 shares of the company’s stock worth $777,938,000 after purchasing an additional 1,847,977 shares during the period. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on WPM shares. Zacks Research cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. UBS Group upgraded Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 target price for the company in a report on Friday, March 27th. 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. Wall Street Zen cut Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Scotiabank upped their price target on Wheaton Precious Metals from $178.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Thirteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and an average target price of $155.64.

Wheaton Precious Metals Stock Down 2.1%

NYSE WPM opened at $112.47 on Wednesday. The stock has a market cap of $51.07 billion, a PE ratio of 28.40, a P/E/G ratio of 2.17 and a beta of 0.51. Wheaton Precious Metals Corp. has a fifty-two week low of $85.59 and a fifty-two week high of $165.76. The business has a 50 day moving average price of $133.92 and a two-hundred day moving average price of $131.70.

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 analysts’ consensus estimates of $1.24 by $0.04. The firm had revenue of $901.47 million during 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 EPS. Sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 4.98 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were issued a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a 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.