Wheaton Precious Metals Corp. $WPM Shares Sold by Gamco Investors INC. ET AL

Key Points

• Gamco Investors cut its Wheaton Precious Metals stake by 29.5% in the fourth quarter, selling 20,490 shares and leaving it with 48,857 shares worth about $5.74 million.
• Wheaton Precious Metals reported strong quarterly results, with EPS of $1.28 beating estimates and revenue of $901.47 million, up 91.7% year over year.
• The company also announced a quarterly dividend of $0.195 per share, while analysts remain generally bullish with a Moderate Buy consensus and an average price target of $155.64.

Gamco Investors INC. ET AL trimmed its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 29.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,857 shares of the company's stock after selling 20,490 shares during the period. Gamco Investors INC. ET AL's holdings in Wheaton Precious Metals were worth $5,742,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Concurrent Investment Advisors LLC lifted its stake in Wheaton Precious Metals by 1.9% during the 4th quarter. Concurrent Investment Advisors LLC now owns 4,203 shares of the company's stock valued at $494,000 after acquiring an additional 78 shares during the period. Focus Financial Network Inc. grew its position in Wheaton Precious Metals by 2.5% during the 4th quarter. Focus Financial Network Inc. now owns 3,305 shares of the company's stock worth $388,000 after purchasing an additional 81 shares during the period. Jamison Private Wealth Management Inc. grew its position in Wheaton Precious Metals by 1.7% during the 4th quarter. Jamison Private Wealth Management Inc. now owns 5,375 shares of the company's stock worth $632,000 after purchasing an additional 92 shares during the period. Capital Investment Advisors LLC grew its position in Wheaton Precious Metals by 3.9% during the 4th quarter. Capital Investment Advisors LLC now owns 2,460 shares of the company's stock worth $289,000 after purchasing an additional 93 shares during the period. Finally, Wesbanco Bank Inc. grew its position in Wheaton Precious Metals by 3.5% during the 4th quarter. Wesbanco Bank Inc. now owns 2,923 shares of the company's stock worth $344,000 after purchasing an additional 98 shares during the period. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Trading Down 4.2%

NYSE WPM opened at $123.99 on Wednesday. The stock has a market capitalization of $56.30 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 2.50 and a beta of 0.50. Wheaton Precious Metals Corp. has a twelve month low of $79.93 and a twelve month high of $165.76. The stock has a 50-day moving average of $135.84 and a 200 day moving average of $129.07.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $901.47 million for the quarter, compared to analysts' expectations of $868.35 million. During the same quarter last year, the company earned $0.55 EPS. The firm's revenue for the quarter was up 91.7% compared to the same quarter last year. Equities analysts predict that Wheaton Precious Metals Corp. will post 4.87 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th will be paid a $0.195 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $0.78 dividend on an annualized basis and a yield of 0.6%. Wheaton Precious Metals's dividend payout ratio (DPR) is currently 19.70%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WPM. UBS Group raised Wheaton Precious Metals from a "neutral" rating to a "buy" rating and set a $160.00 price target on the stock in a research report on Friday, March 27th. TD Cowen boosted their price target on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a "buy" rating in a report on Monday, March 16th. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Wheaton Precious Metals in a report on Wednesday, February 4th. Scotiabank boosted their price target on Wheaton Precious Metals from $178.00 to $180.00 and gave the company an "outperform" rating in a report on Thursday, May 14th. Finally, Zacks Research downgraded Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 5th. Thirteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $155.64.

About Wheaton Precious Metals

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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