Moerus Capital Management LLC Has $55.06 Million Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Key Points

• Moerus Capital Management LLC reduced its stake in Wheaton Precious Metals Corp. by 0.7%, now holding 709,192 shares valued at approximately $55 million.
• Wheaton Precious Metals reported earnings of $0.63 per share, exceeding estimates, with revenue up 68.2% year-over-year.
• The company declared a quarterly dividend of $0.165, resulting in an annualized dividend yield of 0.7%.

Moerus Capital Management LLC lessened its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 0.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 709,192 shares of the company's stock after selling 4,923 shares during the period. Wheaton Precious Metals makes up 24.6% of Moerus Capital Management LLC's portfolio, making the stock its biggest position. Moerus Capital Management LLC owned approximately 0.16% of Wheaton Precious Metals worth $55,055,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. HighTower Advisors LLC lifted its stake in Wheaton Precious Metals by 31.6% in the 1st quarter. HighTower Advisors LLC now owns 276,059 shares of the company's stock valued at $21,430,000 after acquiring an additional 66,332 shares in the last quarter. AGF Management Ltd. lifted its stake in Wheaton Precious Metals by 13.9% in the 1st quarter. AGF Management Ltd. now owns 135,856 shares of the company's stock valued at $10,542,000 after acquiring an additional 16,550 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of Wheaton Precious Metals by 0.7% during the 1st quarter. Public Sector Pension Investment Board now owns 43,820 shares of the company's stock worth $3,400,000 after purchasing an additional 300 shares during the last quarter. Eagle Global Advisors LLC acquired a new position in shares of Wheaton Precious Metals during the 1st quarter worth approximately $226,000. Finally, Nuveen LLC acquired a new position in shares of Wheaton Precious Metals during the 1st quarter worth approximately $36,885,000. Institutional investors own 70.34% of the company's stock.

Wall Street Analysts Forecast Growth

WPM has been the topic of several recent analyst reports. Wall Street Zen lowered Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Royal Bank Of Canada boosted their price target on Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Berenberg Bank boosted their price target on Wheaton Precious Metals from $87.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Scotiabank boosted their price target on Wheaton Precious Metals from $108.00 to $109.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, August 12th. Finally, National Bankshares reissued an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, June 24th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Wheaton Precious Metals has a consensus rating of "Moderate Buy" and a consensus price target of $97.33.

Wheaton Precious Metals Stock Performance

NYSE WPM remained flat at $94.28 on Friday. The company's stock had a trading volume of 1,619,574 shares, compared to its average volume of 1,929,511. The stock's fifty day moving average is $91.95 and its two-hundred day moving average is $82.02. Wheaton Precious Metals Corp. has a 52-week low of $55.47 and a 52-week high of $103.81. The stock has a market capitalization of $42.80 billion, a P/E ratio of 54.50, a P/E/G ratio of 2.62 and a beta of 0.39.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.63 EPS 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 analyst estimates of $424.23 million. During the same period in the prior year, the firm posted $0.33 EPS. The company's revenue for the quarter was up 68.2% on a year-over-year basis. Analysts forecast that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, August 21st. Wheaton Precious Metals's dividend payout ratio is presently 38.15%.

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.