Extract Advisors LLC Has $7.87 Million Stock Holdings in Wheaton Precious Metals Corp. $WPM

Key Points

• Extract Advisors LLC reduced its Wheaton Precious Metals stake by 16.1% in the first quarter, selling 11,509 shares and retaining 60,090 shares valued at approximately $7.87 million.
• Wheaton reported strong quarterly results, with EPS of $1.28 versus $1.24 expected and revenue of $901.47 million, up 91.7% year over year. The company also maintains a quarterly dividend of $0.195, or $0.78 annually.
• Analysts remain broadly bullish, with 12 Buy ratings and one Hold rating, though several firms lowered their price targets. The stock recently traded at $111.91, below the average analyst target of $161.09.

Extract Advisors LLC cut its stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 16.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 60,090 shares of the company's stock after selling 11,509 shares during the quarter. Wheaton Precious Metals comprises about 2.7% of Extract Advisors LLC's holdings, making the stock its 9th largest position. Extract Advisors LLC's holdings in Wheaton Precious Metals were worth $7,872,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Wheaton Precious Metals by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 19,079,029 shares of the company's stock worth $2,242,969,000 after buying an additional 289,939 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Wheaton Precious Metals by 10.7% during the 4th quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company's stock valued at $1,700,517,000 after purchasing an additional 1,402,092 shares in the last quarter. Capital International Investors raised its position in shares of Wheaton Precious Metals by 1.2% in the fourth quarter. Capital International Investors now owns 7,595,725 shares of the company's stock worth $892,650,000 after buying an additional 93,599 shares in the last quarter. Norges Bank bought a new stake in Wheaton Precious Metals during the fourth quarter valued at $864,977,000. Finally, TD Asset Management Inc increased its stake in Wheaton Precious Metals by 0.5% in the 4th quarter. TD Asset Management Inc now owns 7,285,275 shares of the company's stock worth $857,598,000 after acquiring an additional 33,221 shares during the last quarter. Institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Stock Performance

WPM stock opened at $111.91 on Tuesday. The company has a market capitalization of $50.83 billion, a price-to-earnings ratio of 28.26, a price-to-earnings-growth ratio of 2.01 and a beta of 0.55. The business's 50 day moving average price is $117.15 and its two-hundred day moving average price is $131.63. Wheaton Precious Metals Corp. has a fifty-two week low of $90.39 and a fifty-two week high of $165.76.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.24 by $0.04. The firm had revenue of $901.47 million for the quarter, compared to analysts' expectations of $868.35 million. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The company's quarterly revenue was up 91.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.55 EPS. Sell-side analysts forecast that Wheaton Precious Metals Corp. will post 4.73 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were issued 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 payout ratio is 19.70%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on WPM shares. Royal Bank Of Canada dropped their target price on shares of 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. Scotiabank cut their target price on Wheaton Precious Metals from $180.00 to $175.00 and set a "sector outperform" rating for the company in a research note on Tuesday, July 14th. Bank of America cut their price objective on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Weiss Ratings downgraded Wheaton Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 16th. Finally, UBS Group decreased their price target on Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $161.09.

Wheaton Precious Metals 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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