J. Safra Sarasin Holding AG Sells 17,924 Shares of Wheaton Precious Metals Corp. $WPM

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Wheaton Precious Metals by 18.6% in the first quarter, selling 17,924 shares and leaving it with 78,290 shares valued at about $10.25 million.
• Wheaton Precious Metals reported better-than-expected quarterly results, with EPS of $1.28 versus $1.24 expected and revenue of $901.47 million, up 91.7% year over year.
• Analysts remain largely positive on the stock despite recent price-target cuts: the company has 12 Buy ratings and 1 Hold, with an average target price of $161.55.

J. Safra Sarasin Holding AG lowered its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 18.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 78,290 shares of the company's stock after selling 17,924 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Wheaton Precious Metals were worth $10,251,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Assetmark Inc. lifted its stake in shares of Wheaton Precious Metals by 144.4% during the 4th quarter. Assetmark Inc. now owns 220 shares of the company's stock valued at $26,000 after buying an additional 130 shares in the last quarter. Harvest Fund Management Co. Ltd raised its holdings in Wheaton Precious Metals by 100.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company's stock valued at $27,000 after acquiring an additional 117 shares during the period. Cary Street Partners Investment Advisory LLC bought a new stake in Wheaton Precious Metals during the fourth quarter valued at about $28,000. Navalign LLC purchased a new position in shares of Wheaton Precious Metals in the fourth quarter valued at about $30,000. Finally, Eagle Bay Advisors LLC purchased a new position in shares of Wheaton Precious Metals in the fourth quarter valued at about $32,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Up 0.0%

WPM opened at $110.06 on Monday. The company has a market capitalization of $49.98 billion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 1.89 and a beta of 0.55. The firm has a 50-day simple moving average of $123.00 and a two-hundred day simple moving average of $132.56. Wheaton Precious Metals Corp. has a 52 week low of $87.96 and a 52 week high of $165.76.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 20.20% and a net margin of 65.55%.The business's revenue was up 91.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 earnings per share. As a group, sell-side analysts expect that Wheaton Precious Metals Corp. will post 4.78 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

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 dividend on an annualized basis and a yield of 0.7%. Wheaton Precious Metals's payout ratio is presently 19.70%.

Wall Street Analysts Forecast Growth

WPM has been the subject of a number of recent analyst reports. Bank of America dropped their price objective on Wheaton Precious Metals from $163.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday. TD Securities boosted their price target on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a "buy" rating in a report on Monday, March 16th. UBS Group dropped their price target on Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. Wall Street Zen downgraded Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, Royal Bank Of Canada cut their price objective on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an "outperform" rating for the company in a report on Thursday. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $161.55.

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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