Van Hulzen Asset Management LLC Lowers Position in Wheaton Precious Metals Corp. $WPM

Key Points

• Van Hulzen Asset Management LLC reduced its position in Wheaton Precious Metals by 52.7%, holding 34,576 shares worth approximately $2.68 million after selling 38,518 shares.
• Wheaton Precious Metals reported record revenues of $503.22 million for the most recent quarter, exceeding analysts' expectations and resulting in EPS of $0.63.
• The company recently announced a quarterly dividend of $0.165 per share, representing a 0.7% dividend yield and a payout ratio of 38.15%.

Van Hulzen Asset Management LLC decreased its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 52.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,576 shares of the company's stock after selling 38,518 shares during the period. Van Hulzen Asset Management LLC's holdings in Wheaton Precious Metals were worth $2,684,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of WPM. Mackenzie Financial Corp increased its holdings in shares of Wheaton Precious Metals by 54.4% in the fourth quarter. Mackenzie Financial Corp now owns 3,223,154 shares of the company's stock worth $181,227,000 after buying an additional 1,135,699 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Wheaton Precious Metals by 1,321.7% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,221,522 shares of the company's stock worth $68,720,000 after buying an additional 1,135,603 shares during the period. Perpetual Ltd purchased a new position in shares of Wheaton Precious Metals in the first quarter worth about $50,430,000. BLI Banque de Luxembourg Investments bought a new stake in shares of Wheaton Precious Metals in the fourth quarter worth about $36,127,000. Finally, Nuveen LLC bought a new stake in shares of Wheaton Precious Metals in the first quarter worth about $36,885,000. Hedge funds and other institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Price Performance

Shares of NYSE WPM opened at $94.27 on Friday. The company has a market cap of $42.79 billion, a P/E ratio of 54.49, a PEG ratio of 2.59 and a beta of 0.39. Wheaton Precious Metals Corp. has a 1 year low of $55.47 and a 1 year high of $103.81. The firm has a 50-day simple moving average of $92.26 and a two-hundred day simple moving average of $82.72.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. The business had revenue of $503.22 million for the quarter, compared to analyst estimates of $424.23 million. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The company's quarterly revenue was up 68.2% compared to the same quarter last year. During the same period last year, the company posted $0.33 earnings per share. As a group, equities research 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 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. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.7%. Wheaton Precious Metals's dividend payout ratio (DPR) is 38.15%.

Analyst Ratings Changes

WPM has been the subject of a number of recent analyst reports. Royal Bank Of Canada boosted their price objective on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Scotiabank boosted their price objective on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 12th. Berenberg Bank boosted their target price on shares of Wheaton Precious Metals from $87.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. BMO Capital Markets reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Friday, August 8th. Finally, CIBC reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Wheaton Precious Metals currently has a consensus 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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