Triasima Portfolio Management inc. Lowers Position in Wheaton Precious Metals Corp. $WPM

Key Points

• Triasima Portfolio Management Inc. reduced its holdings in Wheaton Precious Metals Corp. by 35.6% during Q2, owning 30,600 shares worth approximately $2.75 million after selling 16,900 shares.
• Wheaton Precious Metals reported $0.63 earnings per share for the last quarter, surpassing estimates, with a revenue increase of 68.2% year-over-year to $503.22 million.
• An annualized dividend of $0.66 was announced, representing a yield of 0.6%, with a dividend payout ratio of 38.15%.

Triasima Portfolio Management inc. cut its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 35.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,600 shares of the company's stock after selling 16,900 shares during the quarter. Triasima Portfolio Management inc.'s holdings in Wheaton Precious Metals were worth $2,746,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Pacer Advisors Inc. grew its holdings in shares of Wheaton Precious Metals by 2.9% during the 1st quarter. Pacer Advisors Inc. now owns 4,144 shares of the company's stock worth $322,000 after purchasing an additional 117 shares during the period. Asahi Life Asset Management CO. LTD. grew its holdings in shares of Wheaton Precious Metals by 2.8% during the 1st quarter. Asahi Life Asset Management CO. LTD. now owns 5,070 shares of the company's stock worth $393,000 after purchasing an additional 140 shares during the period. Avantax Advisory Services Inc. grew its holdings in shares of Wheaton Precious Metals by 2.1% during the 1st quarter. Avantax Advisory Services Inc. now owns 6,737 shares of the company's stock worth $523,000 after purchasing an additional 140 shares during the period. Continuum Advisory LLC grew its holdings in shares of Wheaton Precious Metals by 9.0% during the 1st quarter. Continuum Advisory LLC now owns 1,823 shares of the company's stock worth $142,000 after purchasing an additional 151 shares during the period. Finally, HB Wealth Management LLC grew its holdings in shares of Wheaton Precious Metals by 3.2% during the 2nd quarter. HB Wealth Management LLC now owns 5,068 shares of the company's stock worth $455,000 after purchasing an additional 156 shares during the period. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Price Performance

WPM stock opened at $108.34 on Wednesday. The firm has a market capitalization of $49.18 billion, a P/E ratio of 62.62, a P/E/G ratio of 2.95 and a beta of 0.41. The business's 50-day moving average is $101.61 and its two-hundred day moving average is $90.83. Wheaton Precious Metals Corp. has a 1 year low of $55.47 and a 1 year high of $114.00.

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

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were given a $0.165 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.66 dividend on an annualized basis and a yield of 0.6%. Wheaton Precious Metals's dividend payout ratio (DPR) is currently 38.15%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. BMO Capital Markets reiterated an "outperform" rating on shares of Wheaton Precious Metals in a report on Friday, August 8th. Raymond James Financial raised their target price on Wheaton Precious Metals from $112.00 to $114.00 and gave the company an "outperform" rating in a report on Friday, September 12th. Weiss Ratings restated a "buy (b-)" rating on shares of Wheaton Precious Metals in a report on Saturday, September 27th. CIBC raised their target price on Wheaton Precious Metals from $130.00 to $135.00 and gave the company an "outperform" rating in a report on Thursday, September 25th. Finally, Scotiabank raised their target price on Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector perform" rating in a report on Tuesday, August 12th. One research 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 company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $109.75.

Wheaton Precious Metals 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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