Louisbourg Investments Inc. Sells 6,192 Shares of Wheaton Precious Metals Corp. $WPM

Louisbourg Investments Inc. decreased its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPMFree Report) by 6.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 85,578 shares of the company’s stock after selling 6,192 shares during the quarter. Wheaton Precious Metals makes up approximately 2.0% of Louisbourg Investments Inc.’s portfolio, making the stock its 7th biggest position. Louisbourg Investments Inc.’s holdings in Wheaton Precious Metals were worth $11,211,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. increased its stake in Wheaton Precious Metals by 144.4% in the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock valued at $26,000 after purchasing an additional 130 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its position in shares of Wheaton Precious Metals by 100.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock worth $27,000 after buying an additional 117 shares during the last quarter. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Wheaton Precious Metals in the 4th quarter valued at $28,000. Navalign LLC acquired a new position in shares of Wheaton Precious Metals in the 4th quarter valued at $30,000. Finally, Eagle Bay Advisors LLC purchased a new position in shares of Wheaton Precious Metals in the 4th quarter valued at $32,000. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Price Performance

WPM stock opened at $113.32 on Friday. The company has a fifty day moving average price of $128.66 and a 200 day moving average price of $132.64. Wheaton Precious Metals Corp. has a 12 month low of $85.59 and a 12 month high of $165.76. The company has a market cap of $51.46 billion, a price-to-earnings ratio of 28.62, a price-to-earnings-growth ratio of 2.13 and a beta of 0.51.

Wheaton Precious Metals (NYSE:WPMGet Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share 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 firm had revenue of $901.47 million during the quarter, compared to analysts’ expectations of $868.35 million. During the same quarter in the prior year, the business earned $0.55 EPS. Wheaton Precious Metals’s quarterly revenue was up 91.7% compared to the same quarter last year. As a group, analysts anticipate that Wheaton Precious Metals Corp. will post 4.99 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were issued a dividend of $0.195 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 19.70%.

Wall Street Analyst Weigh In

WPM has been the subject of a number of research reports. TD Cowen boosted their price target on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, March 16th. BMO Capital Markets initiated coverage on Wheaton Precious Metals in a report on Thursday, April 9th. They set an “outperform” rating and a $240.00 price objective on the stock. Wall Street Zen cut Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Zacks Research downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Finally, TD Securities upped their target price 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. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $155.64.

Read Our Latest Report on Wheaton Precious Metals

Wheaton Precious Metals Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Wheaton Precious Metals (NYSE:WPM)

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