U S Global Investors Inc. Has $3.81 Million Stock Holdings in Wheaton Precious Metals Corp. $WPM

Key Points

• U S Global Investors Inc. cut its Wheaton Precious Metals stake by 81.7% in the first quarter, leaving it with 29,064 shares valued at about $3.81 million.
• Analysts remain mostly upbeat on WPM, with 12 Buy ratings and 1 Hold; the stock’s consensus rating is Moderate Buy and the average price target is $161.55.
• Wheaton Precious Metals reported stronger-than-expected quarterly results, including $1.28 EPS on $901.47 million in revenue, and it recently paid a $0.195 quarterly dividend for a 0.7% annual yield.

U S Global Investors Inc. trimmed its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 81.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 29,064 shares of the company's stock after selling 129,712 shares during the period. U S Global Investors Inc.'s holdings in Wheaton Precious Metals were worth $3,808,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in WPM. Assetmark Inc. increased its position in Wheaton Precious Metals by 144.4% in the fourth quarter. Assetmark Inc. now owns 220 shares of the company's stock worth $26,000 after purchasing an additional 130 shares during the period. Harvest Fund Management Co. Ltd boosted its stake in shares of Wheaton Precious Metals by 100.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company's stock valued at $27,000 after purchasing an additional 117 shares during the last quarter. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Wheaton Precious Metals during the 4th quarter worth approximately $28,000. Navalign LLC bought a new stake in shares of Wheaton Precious Metals during the fourth quarter worth approximately $30,000. Finally, Eagle Bay Advisors LLC bought a new position in Wheaton Precious Metals in the fourth quarter valued at approximately $32,000. Institutional investors own 70.34% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on WPM shares. Weiss Ratings reissued a "buy (b)" rating on shares of Wheaton Precious Metals in a research note on Monday, June 29th. BMO Capital Markets initiated coverage on Wheaton Precious Metals in a research note on Thursday, April 9th. They set an "outperform" rating and a $240.00 price objective for the company. 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 report on Thursday. UBS Group cut their target price 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. Finally, Wall Street Zen cut Wheaton Precious Metals from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $161.55.

Wheaton Precious Metals Price Performance

WPM traded down $0.59 during mid-day trading on Friday, hitting $110.06. The stock had a trading volume of 869,466 shares, compared to its average volume of 2,050,108. The stock's fifty day simple moving average is $123.00 and its 200-day simple moving average is $132.49. The firm has a market capitalization of $49.98 billion, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 1.88 and a beta of 0.55. Wheaton Precious Metals Corp. has a 1-year low of $87.96 and a 1-year high of $165.76.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.24 by $0.04. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The company had revenue of $901.47 million for the quarter, compared to analysts' expectations of $868.35 million. During the same period last year, the firm posted $0.55 earnings per share. The business's quarterly revenue was up 91.7% compared to the same quarter last year. As a group, research analysts expect that Wheaton Precious Metals Corp. will post 4.85 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were issued a dividend of $0.195 per share. The ex-dividend date was Wednesday, May 27th. This represents a $0.78 annualized dividend and a yield of 0.7%. Wheaton Precious Metals's payout ratio is currently 19.70%.

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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