Bryn Mawr Trust Advisors LLC Sells 10,688 Shares of Wheaton Precious Metals Corp. $WPM

Key Points

• Bryn Mawr Trust Advisors LLC cut its Wheaton Precious Metals stake by 31.9% in Q1, selling 10,688 shares and leaving it with 22,787 shares worth about $2.99 million.
• Institutional ownership remains high at 70.34%, with several large funds recently adding to or establishing positions in the company.
• Wheaton Precious Metals reported better-than-expected Q1 results, including $1.28 EPS and $901.47 million in revenue, while analysts currently hold a Moderate Buy consensus with an average price target of $161.09.

Bryn Mawr Trust Advisors LLC reduced its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 31.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,787 shares of the company's stock after selling 10,688 shares during the quarter. Bryn Mawr Trust Advisors LLC's holdings in Wheaton Precious Metals were worth $2,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Wheaton Precious Metals during the 4th quarter valued at about $864,977,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Wheaton Precious Metals by 36.2% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,955,810 shares of the company's stock worth $777,938,000 after purchasing an additional 1,847,977 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Wheaton Precious Metals by 40.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,912,588 shares of the company's stock worth $694,951,000 after buying an additional 1,715,540 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Wheaton Precious Metals by 10.7% in the fourth quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company's stock worth $1,700,517,000 after buying an additional 1,402,092 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in Wheaton Precious Metals by 1,655.4% during the third quarter. Qube Research & Technologies Ltd now owns 1,245,766 shares of the company's stock valued at $139,333,000 after buying an additional 1,174,799 shares during the last quarter. Institutional investors own 70.34% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on WPM. Weiss Ratings restated a "buy (b)" rating on shares of Wheaton Precious Metals in a report on Monday, June 29th. Royal Bank Of Canada lowered their target price on Wheaton Precious Metals from $165.00 to $160.00 and set an "outperform" rating for the company in a research report on Thursday, July 9th. Jefferies Financial Group cut their target price on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a "buy" rating for the company in a report on Monday, July 6th. BMO Capital Markets initiated coverage on shares of Wheaton Precious Metals in a research report on Thursday, April 9th. They issued an "outperform" rating and a $240.00 price target on the stock. Finally, UBS Group reduced their price target on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. 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 data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $161.09.

Wheaton Precious Metals Price Performance

Shares of WPM stock opened at $108.62 on Wednesday. The company has a market cap of $49.33 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 1.92 and a beta of 0.55. Wheaton Precious Metals Corp. has a 1 year low of $87.96 and a 1 year high of $165.76. The stock's 50 day simple moving average is $122.30 and its two-hundred day simple moving average is $132.37.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $901.47 million for the quarter, compared to analyst estimates of $868.35 million. During the same quarter in the prior year, the firm posted $0.55 EPS. Wheaton Precious Metals's quarterly revenue was up 91.7% compared to the same quarter last year. Equities research analysts expect that Wheaton Precious Metals Corp. will post 4.8 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were paid a $0.195 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.78 annualized dividend and a yield of 0.7%. Wheaton Precious Metals's dividend payout ratio (DPR) is presently 19.70%.

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.

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