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

Mad River Investors lessened its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 19.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,024 shares of the company’s stock after selling 11,149 shares during the period. Wheaton Precious Metals accounts for 2.5% of Mad River Investors’ portfolio, making the stock its 9th largest holding. Mad River Investors’ holdings in Wheaton Precious Metals were worth $6,021,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Cornerstone Planning Group LLC lifted its stake in shares of Wheaton Precious Metals by 245.5% in the first quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock worth $29,000 after buying an additional 162 shares during the last quarter. Hollencrest Capital Management boosted its holdings in shares of Wheaton Precious Metals by 73.5% during the 1st quarter. Hollencrest Capital Management now owns 236 shares of the company’s stock worth $31,000 after buying an additional 100 shares during the period. Wellington Altus USA Inc. grew its stake in Wheaton Precious Metals by 446.7% in the 2nd quarter. Wellington Altus USA Inc. now owns 328 shares of the company’s stock valued at $37,000 after buying an additional 268 shares during the last quarter. Latitude Advisors LLC acquired a new position in Wheaton Precious Metals in the 3rd quarter valued at $37,000. Finally, Root Financial Partners LLC acquired a new position in Wheaton Precious Metals in the 3rd quarter valued at $38,000. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Up 0.4%

Shares of WPM stock opened at $126.47 on Thursday. Wheaton Precious Metals Corp. has a 12 month low of $94.28 and a 12 month high of $165.76. The firm has a market cap of $57.44 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 2.35 and a beta of 0.54. The stock has a 50 day moving average of $142.93 and a 200-day moving average of $134.00. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.20.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.04. The company had revenue of $878.00 million during the quarter, compared to analysts’ expectations of $879.29 million. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%. Wheaton Precious Metals’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.63 earnings per share. On average, equities analysts predict that Wheaton Precious Metals Corp. will post 4.61 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were paid a dividend of $0.1950 per share. This represents a $0.78 annualized dividend and a yield of 0.6%. The ex-dividend date was Thursday, August 20th. Wheaton Precious Metals’s dividend payout ratio is presently 17.29%.

Analysts Set New Price Targets

WPM has been the topic of several recent analyst reports. Jefferies Financial Group dropped their target price on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Bank of America decreased their price target on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, July 9th. UBS Group raised their price target on Wheaton Precious Metals from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, October 8th. Weiss Ratings downgraded Wheaton Precious Metals from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 23rd. Finally, Berenberg Bank set a $157.00 price objective on Wheaton Precious Metals in a research note on Tuesday, July 28th. Ten research 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $172.11.

Wheaton Precious Metals Profile

Wheaton Precious Metals Corp. is a precious metals streaming company headquartered in Vancouver, British Columbia. Rather than operating mines directly, the company provides upfront financing to mining companies in exchange for the right to purchase a portion of the gold, silver, palladium and cobalt produced by specific mining operations at predetermined prices.

Wheaton sells the streamed metals to customers and uses the proceeds to support its operations and investments. Its portfolio is linked to mining assets operated by third parties, with exposure to projects in the Americas and other regions.