Mad River Investors Has $10.41 Million Holdings in Wheaton Precious Metals Corp. $WPM

Key Points

• Mad River Investors reduced its stake in Wheaton Precious Metals Corp. by 21.6%, now holding 115,925 shares, making it the company's sixth largest position.
• The company reported a quarterly earnings per share of $0.63, exceeding analysts' expectations of $0.58, and had a revenue of $503.22 million for the quarter.
• A quarterly dividend of $0.165 per share was declared, yielding 0.6%, with a payout ratio of 38.15%.

Mad River Investors decreased its stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 21.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,925 shares of the company's stock after selling 31,868 shares during the period. Wheaton Precious Metals accounts for approximately 4.7% of Mad River Investors' holdings, making the stock its 6th largest position. Mad River Investors' holdings in Wheaton Precious Metals were worth $10,410,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of WPM. Mackenzie Financial Corp grew its holdings in shares of Wheaton Precious Metals by 54.4% in the 4th quarter. Mackenzie Financial Corp now owns 3,223,154 shares of the company's stock valued at $181,227,000 after acquiring an additional 1,135,699 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Wheaton Precious Metals by 57.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,097,735 shares of the company's stock valued at $162,811,000 after acquiring an additional 766,947 shares in the last quarter. Amundi grew its holdings in Wheaton Precious Metals by 33.2% during the first quarter. Amundi now owns 2,745,947 shares of the company's stock worth $215,557,000 after purchasing an additional 683,674 shares during the period. Perpetual Ltd acquired a new position in Wheaton Precious Metals during the first quarter worth approximately $50,430,000. Finally, Nuveen LLC acquired a new position in Wheaton Precious Metals during the first quarter worth approximately $36,885,000. Institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Stock Up 1.9%

Shares of Wheaton Precious Metals stock traded up $2.00 on Friday, hitting $106.78. The stock had a trading volume of 1,297,960 shares, compared to its average volume of 1,857,043. Wheaton Precious Metals Corp. has a twelve month low of $55.47 and a twelve month high of $108.67. The business's 50 day moving average is $97.20 and its two-hundred day moving average is $87.45. The stock has a market cap of $48.47 billion, a price-to-earnings ratio of 61.74, a price-to-earnings-growth ratio of 2.85 and a beta of 0.42.

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

Wheaton Precious Metals Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on WPM shares. Scotiabank boosted their price target on Wheaton Precious Metals from $108.00 to $109.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 12th. Raymond James Financial boosted their price target on Wheaton Precious Metals from $112.00 to $114.00 and gave the stock an "outperform" rating in a research report on Friday, September 12th. Wall Street Zen raised Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research report on Monday, September 8th. National Bankshares reissued an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, June 24th. Finally, Berenberg Bank boosted their price target on Wheaton Precious Metals from $102.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $102.78.

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.