Crossmark Global Holdings Inc. Decreases Stock Holdings in Wheaton Precious Metals Corp. $WPM

Key Points

• Crossmark Global Holdings cut its Wheaton Precious Metals stake by 25.6% in the fourth quarter, selling 7,417 shares and leaving it with 21,601 shares worth about $2.54 million.
• Institutional interest in WPM remains strong overall, with several hedge funds increasing their positions and 70.34% of the stock owned by hedge funds and other institutional investors.
• Wheaton Precious Metals reported better-than-expected Q1 results, posting $1.28 EPS and $901.47 million in revenue, while also announcing a quarterly dividend of $0.195 per share.

Crossmark Global Holdings Inc. trimmed its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 25.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,601 shares of the company's stock after selling 7,417 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Wheaton Precious Metals were worth $2,539,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in WPM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 buying an additional 1,847,977 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Wheaton Precious Metals by 53.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 4,197,048 shares of the company's stock valued at $469,459,000 after acquiring an additional 1,453,572 shares in the last quarter. Bank of Montreal Can boosted its holdings in Wheaton Precious Metals by 26.1% in the third quarter. Bank of Montreal Can now owns 6,455,675 shares of the company's stock valued at $722,270,000 after acquiring an additional 1,335,588 shares in the last quarter. Qube Research & Technologies Ltd boosted its holdings in Wheaton Precious Metals by 1,655.4% in the third quarter. Qube Research & Technologies Ltd now owns 1,245,766 shares of the company's stock valued at $139,333,000 after acquiring an additional 1,174,799 shares in the last quarter. Finally, Capital Research Global Investors boosted its holdings in Wheaton Precious Metals by 158.1% in the third quarter. Capital Research Global Investors now owns 1,458,898 shares of the company's stock valued at $163,224,000 after acquiring an additional 893,733 shares in the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WPM has been the topic of several recent analyst reports. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Wheaton Precious Metals in a report on Wednesday, February 4th. Zacks Research cut shares of Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 5th. TD Securities lifted their price target on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a "buy" rating in a report on Monday, March 16th. TD Cowen lifted their price target on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a "buy" rating in a report on Monday, March 16th. Finally, BMO Capital Markets initiated coverage on shares of Wheaton Precious Metals in a report on Thursday, April 9th. They issued an "outperform" rating and a $240.00 price target on the stock. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $155.45.

Wheaton Precious Metals Trading Up 3.7%

Shares of NYSE:WPM opened at $143.98 on Tuesday. The stock has a fifty day simple moving average of $138.25 and a two-hundred day simple moving average of $127.45. Wheaton Precious Metals Corp. has a 12-month low of $75.42 and a 12-month high of $165.76. The stock has a market capitalization of $65.38 billion, a price-to-earnings ratio of 36.36, a PEG ratio of 2.68 and a beta of 0.50.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $1.28 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 firm had revenue of $901.47 million for the quarter, compared to analysts' expectations of $868.35 million. During the same period in the prior year, the firm posted $0.55 earnings per share. The company's quarterly revenue was up 91.7% on a year-over-year basis. As a group, equities research analysts predict that Wheaton Precious Metals Corp. will post 4.88 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th will be paid a $0.195 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $0.78 dividend on an annualized basis and a yield of 0.5%. 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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