Wheaton Precious Metals Corp. $WPM Holdings Trimmed by Kopernik Global Investors LLC

Key Points

• Kopernik Global Investors LLC reduced its holdings in Wheaton Precious Metals Corp. by 41.2%, now owning approximately 692,499 shares valued at about $53.76 million.
• The company achieved a profit of $0.63 EPS for the latest quarter, surpassing estimates, with revenue reaching $503.22 million, reflecting a 68.2% year-over-year increase.
• Wheaton Precious Metals has recently announced a quarterly dividend of $0.165 per share, which will be paid on September 4, 2023, contributing to an annualized yield of 0.7%.

Kopernik Global Investors LLC reduced its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 41.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 692,499 shares of the company's stock after selling 484,593 shares during the quarter. Wheaton Precious Metals makes up approximately 5.6% of Kopernik Global Investors LLC's portfolio, making the stock its 8th biggest position. Kopernik Global Investors LLC owned 0.15% of Wheaton Precious Metals worth $53,759,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. increased its stake in shares of Wheaton Precious Metals by 2.9% during the first quarter. Pacer Advisors Inc. now owns 4,144 shares of the company's stock worth $322,000 after buying an additional 117 shares during the period. Asahi Life Asset Management CO. LTD. grew its holdings in 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 acquiring an additional 140 shares in the last quarter. Avantax Advisory Services Inc. grew its holdings in 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 acquiring an additional 140 shares in the last quarter. Continuum Advisory LLC increased its position in shares of Wheaton Precious Metals by 9.0% in the 1st quarter. Continuum Advisory LLC now owns 1,823 shares of the company's stock valued at $142,000 after purchasing an additional 151 shares during the last quarter. Finally, Allworth Financial LP increased its position in shares of Wheaton Precious Metals by 2.9% in the 1st quarter. Allworth Financial LP now owns 5,715 shares of the company's stock valued at $470,000 after purchasing an additional 161 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company's stock.

Wheaton Precious Metals Trading Up 1.2%

Shares of Wheaton Precious Metals stock traded up $1.1620 during trading on Friday, reaching $95.5120. The company's stock had a trading volume of 1,439,501 shares, compared to its average volume of 1,869,114. The company has a 50-day moving average price of $92.34 and a two-hundred day moving average price of $82.93. Wheaton Precious Metals Corp. has a fifty-two week low of $55.47 and a fifty-two week high of $103.81. The firm has a market cap of $43.36 billion, a PE ratio of 55.21, 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 results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. The firm had revenue of $503.22 million during the quarter, compared to analysts' expectations of $424.23 million. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. Wheaton Precious Metals's quarterly revenue was up 68.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 EPS. On average, analysts predict that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

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

Analyst Upgrades and Downgrades

WPM has been the subject of several recent analyst reports. Berenberg Bank lifted their price objective on shares of Wheaton Precious Metals from $87.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Royal Bank Of Canada lifted their price target on Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Wall Street Zen cut Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. CIBC reissued an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, July 15th. Finally, Scotiabank upped their price target 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 equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Wheaton Precious Metals presently has a consensus rating of "Moderate Buy" and an average target price of $97.33.

About Wheaton Precious Metals

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.