Fox Run Management L.L.C. Reduces Position in Wheaton Precious Metals Corp. $WPM

Key Points

• Fox Run Management L.L.C. significantly reduced its stake in Wheaton Precious Metals Corp. by 80.4%, now holding just 3,563 shares valued at approximately $277,000.
• Wheaton Precious Metals reported a strong quarterly earnings performance with $0.63 earnings per share, exceeding analysts' expectations of $0.58, and a revenue increase of 68.2% year-over-year.
• The company declared a quarterly dividend of $0.165 per share, with an annualized yield of 0.7%, to be paid to investors on September 4th.

Fox Run Management L.L.C. cut its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 80.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,563 shares of the company's stock after selling 14,640 shares during the period. Fox Run Management L.L.C.'s holdings in Wheaton Precious Metals were worth $277,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. NBT Bank N A NY boosted its position in shares of Wheaton Precious Metals by 129.3% during the first quarter. NBT Bank N A NY now owns 415 shares of the company's stock valued at $32,000 after buying an additional 234 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Wheaton Precious Metals during the first quarter valued at $49,000. Princeton Global Asset Management LLC bought a new position in Wheaton Precious Metals in the first quarter valued at about $52,000. Penserra Capital Management LLC lifted its holdings in Wheaton Precious Metals by 1,812.8% in the first quarter. Penserra Capital Management LLC now owns 746 shares of the company's stock valued at $57,000 after acquiring an additional 707 shares during the period. Finally, Whittier Trust Co. grew its stake in shares of Wheaton Precious Metals by 77.4% during the 1st quarter. Whittier Trust Co. now owns 763 shares of the company's stock valued at $59,000 after purchasing an additional 333 shares during the period. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Down 2.5%

WPM stock opened at $91.0530 on Wednesday. Wheaton Precious Metals Corp. has a twelve month low of $55.47 and a twelve month high of $103.81. The stock has a market cap of $41.33 billion, a P/E ratio of 52.63, a PEG ratio of 2.60 and a beta of 0.39. The business's 50-day moving average price is $92.10 and its 200-day moving average price is $82.43.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.05. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The firm had revenue of $503.22 million for the quarter, compared to analysts' expectations of $424.23 million. During the same period in the previous year, the firm earned $0.33 EPS. The business's quarterly revenue was up 68.2% on a year-over-year basis. On average, equities research analysts expect that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be issued a $0.165 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.66 dividend on an annualized basis and a yield of 0.7%. Wheaton Precious Metals's payout ratio is currently 38.15%.

Analysts Set New Price Targets

Several research firms have recently commented on WPM. CIBC reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, July 15th. Scotiabank upped their price target on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 12th. UBS Group set a $106.00 price target on shares of Wheaton Precious Metals and gave the company a "neutral" rating in a research report on Monday, August 11th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. Finally, Wall Street Zen lowered shares of Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $97.33.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.

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