Metis Global Partners LLC Decreases Position in Wheaton Precious Metals Corp. $WPM

Metis Global Partners LLC trimmed its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 15.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 62,552 shares of the company’s stock after selling 11,688 shares during the quarter. Metis Global Partners LLC’s holdings in Wheaton Precious Metals were worth $7,354,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. 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 in the last quarter. 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 in the last quarter. Norges Bank purchased a new stake in Wheaton Precious Metals during the fourth quarter worth $864,977,000. 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 in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Wheaton Precious Metals by 36.2% during the third 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 in the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. 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 objective on the stock. Zacks Research downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. TD Cowen upped their price objective 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. Scotiabank upped their price objective on Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Finally, Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Wheaton Precious Metals has an average rating of “Moderate Buy” and an average target price of $155.64.

Wheaton Precious Metals Stock Down 4.5%

Shares of NYSE:WPM opened at $107.54 on Thursday. The stock’s fifty day simple moving average is $133.59 and its 200-day simple moving average is $131.75. Wheaton Precious Metals Corp. has a 52-week low of $85.59 and a 52-week high of $165.76. The company has a market capitalization of $48.84 billion, a P/E ratio of 27.16, a P/E/G ratio of 2.12 and a beta of 0.51.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.04. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The firm had revenue of $901.47 million for the quarter, compared to the consensus estimate of $868.35 million. During the same period in the prior year, the business posted $0.55 earnings per share. The firm’s revenue for the quarter was up 91.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 4.98 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

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

About Wheaton Precious Metals

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.