Hillsdale Investment Management Inc. Has $38.07 Million Stake in Wheaton Precious Metals Corp. $WPM

Hillsdale Investment Management Inc. lowered its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 23.7% in the first quarter, HoldingsChannel.com reports. The fund owned 290,075 shares of the company’s stock after selling 90,189 shares during the quarter. Wheaton Precious Metals comprises 1.0% of Hillsdale Investment Management Inc.’s portfolio, making the stock its 22nd biggest position. Hillsdale Investment Management Inc.’s holdings in Wheaton Precious Metals were worth $38,067,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Assetmark Inc. increased its holdings in 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 purchasing an additional 130 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its stake in Wheaton Precious Metals by 100.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock worth $27,000 after purchasing an additional 117 shares in the last quarter. Cary Street Partners Investment Advisory LLC acquired a new position in Wheaton Precious Metals in the fourth quarter worth $28,000. Navalign LLC bought a new stake in shares of Wheaton Precious Metals during the fourth quarter worth $30,000. Finally, Eagle Bay Advisors LLC bought a new stake in shares of Wheaton Precious Metals during the fourth quarter worth $32,000. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Stock Down 1.9%

WPM stock opened at $107.94 on Tuesday. The company has a market cap of $49.02 billion, a P/E ratio of 27.26, a PEG ratio of 1.89 and a beta of 0.55. Wheaton Precious Metals Corp. has a twelve month low of $87.96 and a twelve month high of $165.76. The business has a fifty day moving average of $122.63 and a 200-day moving average of $132.46.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.04. The business 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%.The firm’s quarterly revenue was up 91.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.55 earnings per share. As a group, equities research analysts anticipate that Wheaton Precious Metals Corp. will post 4.78 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders 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 dividend on an annualized basis and a yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio is presently 19.70%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WPM. TD Securities raised their target price on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Wall Street Zen lowered shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. UBS Group lowered their price objective on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Scotiabank boosted 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 note on Thursday, May 14th. Finally, TD Cowen boosted their target price on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and an average target price of $161.55.

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.