Wheaton Precious Metals Corp. $WPM Shares Sold by Horizon Kinetics Asset Management LLC

Key Points

• Horizon Kinetics Asset Management cut its Wheaton Precious Metals stake by 10.7% in the fourth quarter, selling 298,594 shares and leaving it with 2.49 million shares worth about $293 million. The stock remains the fund’s third-largest holding.
• Wheaton Precious Metals reported better-than-expected quarterly results, with EPS of $1.28 versus the $1.24 estimate and revenue of $901.47 million above expectations. Revenue jumped 91.7% year over year, and analysts now expect full-year EPS of 4.98.
• The company paid a quarterly dividend of $0.195 per share, or $0.78 annualized, for a yield of about 0.7%. Analyst sentiment remains positive, with 13 Buy ratings and an average target price of $155.64.

Horizon Kinetics Asset Management LLC lessened its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 10.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,493,518 shares of the company's stock after selling 298,594 shares during the quarter. Wheaton Precious Metals makes up about 4.0% of Horizon Kinetics Asset Management LLC's holdings, making the stock its 3rd largest position. Horizon Kinetics Asset Management LLC owned about 0.55% of Wheaton Precious Metals worth $293,038,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BLI Banque de Luxembourg Investments raised its stake in Wheaton Precious Metals by 2.2% in the 4th quarter. BLI Banque de Luxembourg Investments now owns 393,500 shares of the company's stock valued at $46,239,000 after purchasing an additional 8,500 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Wheaton Precious Metals in the 4th quarter valued at about $564,000. Cerity Partners LLC raised its stake in Wheaton Precious Metals by 49.6% in the 4th quarter. Cerity Partners LLC now owns 37,326 shares of the company's stock valued at $4,387,000 after purchasing an additional 12,378 shares during the last quarter. LPL Financial LLC raised its stake in Wheaton Precious Metals by 0.3% in the 4th quarter. LPL Financial LLC now owns 229,626 shares of the company's stock valued at $26,986,000 after purchasing an additional 785 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in Wheaton Precious Metals by 12.0% in the 4th quarter. Franklin Resources Inc. now owns 181,246 shares of the company's stock valued at $21,308,000 after purchasing an additional 19,386 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company's stock.

Wheaton Precious Metals Price Performance

WPM opened at $112.47 on Wednesday. The stock has a market capitalization of $51.07 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 2.17 and a beta of 0.51. The business has a 50-day moving average of $133.92 and a two-hundred day moving average of $131.70. Wheaton Precious Metals Corp. has a 12 month low of $85.59 and a 12 month high of $165.76.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.24 by $0.04. The company had revenue of $901.47 million during the quarter, compared to analysts' expectations of $868.35 million. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The firm's revenue was up 91.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 EPS. Equities research analysts anticipate that Wheaton Precious Metals Corp. will post 4.98 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were issued a $0.195 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $0.78 annualized dividend and a yield of 0.7%. Wheaton Precious Metals's payout ratio is 19.70%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. UBS Group raised shares of Wheaton Precious Metals from a "neutral" rating to a "buy" rating and set a $160.00 target price for the company in a research note on Friday, March 27th. BMO Capital Markets assumed coverage on shares of Wheaton Precious Metals in a research note on Thursday, April 9th. They issued an "outperform" rating and a $240.00 target price for the company. TD Securities boosted their target price on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a "buy" rating in a research note on Monday, March 16th. TD Cowen boosted their target price on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a "buy" rating in a research note on Monday, March 16th. Finally, Scotiabank boosted their target price on shares of Wheaton Precious Metals from $178.00 to $180.00 and gave the company an "outperform" rating in a research note on Thursday, May 14th. Thirteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $155.64.

Wheaton Precious Metals Profile

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.

Want to see what other hedge funds are holding WPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wheaton Precious Metals Corp. (NYSE:WPM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.