Wheaton Precious Metals Corp. $WPM Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC reduced its stake in Wheaton Precious Metals Corp. by 6.5%, now holding 737,050 shares valued at $57.2 million.
• The company reported a 68.2% increase in revenue year-over-year, with earnings per share of $0.63, surpassing estimates.
• Wheaton Precious Metals declared a quarterly dividend of $0.165, indicating an annualized yield of 0.7% and a payout ratio of 38.15%.

Gabelli Funds LLC lessened its holdings in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 6.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 737,050 shares of the company's stock after selling 50,900 shares during the quarter. Gabelli Funds LLC owned 0.16% of Wheaton Precious Metals worth $57,217,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. FORA Capital LLC acquired a new position in Wheaton Precious Metals during the 1st quarter worth approximately $383,000. Caisse DE Depot ET Placement DU Quebec increased its position in Wheaton Precious Metals by 21.6% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,485,326 shares of the company's stock worth $115,245,000 after purchasing an additional 263,804 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in Wheaton Precious Metals during the 1st quarter worth approximately $4,550,000. Quantitative Investment Management LLC acquired a new position in Wheaton Precious Metals during the 1st quarter worth approximately $1,726,000. Finally, Smartleaf Asset Management LLC increased its position in Wheaton Precious Metals by 44.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,438 shares of the company's stock worth $110,000 after purchasing an additional 444 shares during the period. Institutional investors and hedge funds own 70.34% of the company's stock.

Wheaton Precious Metals Stock Performance

WPM stock opened at $95.55 on Tuesday. The stock has a market capitalization of $43.37 billion, a P/E ratio of 55.23, a PEG ratio of 2.65 and a beta of 0.39. Wheaton Precious Metals Corp. has a one year low of $55.47 and a one year high of $103.81. The company has a 50 day moving average price of $92.42 and a two-hundred day moving average price of $83.37.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, topping the consensus estimate 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 revenue for the quarter was up 68.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.33 EPS. Research analysts forecast 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 will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, August 21st. Wheaton Precious Metals's dividend payout ratio (DPR) is 38.15%.

Analysts Set New Price Targets

WPM has been the subject of a number of research reports. CIBC reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, July 15th. Scotiabank lifted their price target on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 12th. UBS Group set a $106.00 price target on shares of Wheaton Precious Metals and gave the company a "neutral" rating in a research report on Monday, August 11th. Wall Street Zen raised shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Royal Bank Of Canada raised 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 research note on Wednesday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.

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