Williamson Legacy Group LLC reduced its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 62.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,276 shares of the company’s stock after selling 8,731 shares during the period. Williamson Legacy Group LLC’s holdings in Wheaton Precious Metals were worth $620,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in WPM. Assetmark Inc. lifted its holdings in shares of Wheaton Precious Metals by 144.4% during the 4th quarter. Assetmark Inc. now owns 220 shares of the company’s stock worth $26,000 after acquiring an additional 130 shares during the last quarter. Cary Street Partners Investment Advisory LLC purchased a new position in Wheaton Precious Metals in the 4th quarter worth $28,000. Root Financial Partners LLC purchased a new position in Wheaton Precious Metals in the 3rd quarter worth $29,000. Navalign LLC purchased a new position in Wheaton Precious Metals in the 4th quarter worth $30,000. Finally, Eagle Bay Advisors LLC purchased a new position in Wheaton Precious Metals in the 4th quarter worth $32,000. 70.34% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on WPM shares. Scotiabank lifted 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 report on Thursday, May 14th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. TD Cowen lifted 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 report on Monday, March 16th. Zacks Research cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Finally, Wall Street Zen cut shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Thirteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $155.64.
Wheaton Precious Metals Trading Up 3.0%
WPM stock opened at $130.27 on Wednesday. The firm’s 50-day moving average price is $133.92 and its two-hundred day moving average price is $130.16. Wheaton Precious Metals Corp. has a 12-month low of $84.46 and a 12-month high of $165.76. The stock has a market capitalization of $59.16 billion, a price-to-earnings ratio of 32.90, a PEG ratio of 2.39 and a beta of 0.50.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $901.47 million for the quarter, compared to analysts’ expectations of $868.35 million. During the same quarter in the previous year, the company earned $0.55 earnings per share. The company’s revenue for the quarter was up 91.7% compared to the same quarter last year. Equities analysts predict that Wheaton Precious Metals Corp. will post 4.97 EPS for the current year.
Wheaton Precious Metals Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th will be given a $0.195 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.6%. Wheaton Precious Metals’s payout ratio is presently 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.
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