Lombard Odier Asset Management Europe Ltd Sells 77,341 Shares of Wheaton Precious Metals Corp. $WPM

Lombard Odier Asset Management Europe Ltd cut its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 34.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 148,214 shares of the company’s stock after selling 77,341 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in Wheaton Precious Metals were worth $17,418,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC bought a new position in Wheaton Precious Metals in the 1st quarter worth about $331,000. Focus Partners Wealth boosted its stake in Wheaton Precious Metals by 10.7% in the 1st quarter. Focus Partners Wealth now owns 11,223 shares of the company’s stock worth $871,000 after purchasing an additional 1,081 shares during the period. Acadian Asset Management LLC bought a new position in Wheaton Precious Metals in the 1st quarter worth about $209,000. Sivia Capital Partners LLC bought a new position in Wheaton Precious Metals in the 2nd quarter worth about $239,000. Finally, Rhumbline Advisers boosted its stake in Wheaton Precious Metals by 28.3% in the 2nd quarter. Rhumbline Advisers now owns 2,952 shares of the company’s stock worth $265,000 after purchasing an additional 652 shares during the period. 70.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Scotiabank raised their target price on Wheaton Precious Metals from $178.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. UBS Group raised shares of Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 price target for the company in a report on Friday, March 27th. Zacks Research downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. TD Cowen raised their price target on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a report on Monday, March 16th. Finally, BMO Capital Markets initiated coverage on shares of 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 investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and an average target price of $155.64.

Wheaton Precious Metals Stock Performance

NYSE WPM opened at $128.46 on Wednesday. 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 $58.34 billion, a P/E ratio of 32.44, a P/E/G ratio of 2.34 and a beta of 0.51. The company has a fifty day moving average of $132.43 and a 200-day moving average of $132.24.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $868.35 million. During the same period in the previous year, the firm posted $0.55 EPS. The firm’s revenue was up 91.7% compared to the same quarter last year. As a group, analysts forecast that Wheaton Precious Metals Corp. will post 4.98 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 issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Wednesday, May 27th. Wheaton Precious Metals’s payout ratio is currently 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.