Arkadios Wealth Advisors Sells 16,584 Shares of Wheaton Precious Metals Corp. $WPM

Key Points

• Arkadios Wealth Advisors cut its Wheaton Precious Metals stake by 71.3% in the first quarter, selling 16,584 shares and retaining 6,676 shares valued at approximately $875,000.
• Analysts remain broadly positive on WPM, with 12 Buy ratings and one Hold rating; the stock has a consensus “Moderate Buy” rating and an average price target of $165.55.
• Wheaton reported quarterly EPS of $1.28 versus the $1.24 consensus estimate, while revenue rose 91.7% year over year to $901.47 million. Shares recently opened at $123.28, within a 52-week range of $90.94 to $165.76.

Arkadios Wealth Advisors lessened its stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 71.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,676 shares of the company's stock after selling 16,584 shares during the quarter. Arkadios Wealth Advisors' holdings in Wheaton Precious Metals were worth $875,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of WPM. AQR Capital Management LLC purchased a new stake in Wheaton Precious Metals in the 1st quarter valued at about $331,000. Focus Partners Wealth grew 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 valued at $871,000 after purchasing an additional 1,081 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Wheaton Precious Metals during the 1st quarter valued at $209,000. Sivia Capital Partners LLC purchased a new stake in shares of Wheaton Precious Metals during the 2nd quarter valued at $239,000. Finally, Rhumbline Advisers raised its stake in shares of Wheaton Precious Metals by 28.3% during 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. Hedge funds and other institutional investors own 70.34% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on WPM shares. Wall Street Zen lowered shares of Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. UBS Group reduced their target price 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. Weiss Ratings cut shares of Wheaton Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 16th. BMO Capital Markets began coverage on Wheaton Precious Metals in a research note on Thursday, April 9th. They issued an "outperform" rating and a $240.00 price objective on the stock. Finally, Berenberg Bank set a $157.00 price objective on Wheaton Precious Metals in a report on Tuesday, July 28th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $165.55.

Wheaton Precious Metals Stock Performance

Shares of NYSE WPM opened at $123.28 on Thursday. The stock has a market cap of $55.99 billion, a PE ratio of 31.13, a price-to-earnings-growth ratio of 2.13 and a beta of 0.55. Wheaton Precious Metals Corp. has a fifty-two week low of $90.94 and a fifty-two week high of $165.76. The stock has a fifty day moving average of $115.22 and a 200-day moving average of $130.87.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued 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 return on equity of 20.20% and a net margin of 65.55%.The business had revenue of $901.47 million for the quarter, compared to analysts' expectations of $868.35 million. During the same quarter in the prior year, the firm posted $0.55 EPS. The firm's quarterly revenue was up 91.7% on a year-over-year basis. On average, sell-side analysts predict that Wheaton Precious Metals Corp. will post 4.62 EPS for the current year.

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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