Wheaton Precious Metals Corp. $WPM Stock: Mad River Investors Reduces Holdings

Key Points

• Mad River Investors cut its Wheaton Precious Metals stake by 19.8% in the third quarter, selling 11,149 shares and retaining 45,024 shares valued at approximately $6.0 million. Institutional investors and hedge funds collectively own 70.34% of WPM.
• Analysts remain broadly positive, with 10 Buy ratings and one Hold rating. WPM has a “Moderate Buy” consensus rating and an average price target of $172.11.
• Wheaton reported quarterly EPS of $1.19, exceeding estimates, while revenue rose 84.7% year over year to $878 million. The company also declared a quarterly dividend of $0.195 per share, representing a 0.6% yield.

Mad River Investors trimmed its stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 19.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,024 shares of the company's stock after selling 11,149 shares during the quarter. Wheaton Precious Metals accounts for 2.5% of Mad River Investors' portfolio, making the stock its 9th largest position. Mad River Investors' holdings in Wheaton Precious Metals were worth $6,021,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. AdvisorNet Financial Inc grew its position in Wheaton Precious Metals by 2.0% during the third quarter. AdvisorNet Financial Inc now owns 3,865 shares of the company's stock valued at $501,000 after purchasing an additional 77 shares in the last quarter. Cornerstone Financial Management LLC increased its stake in Wheaton Precious Metals by 16.5% in the 2nd quarter. Cornerstone Financial Management LLC now owns 565 shares of the company's stock valued at $63,000 after buying an additional 80 shares during the period. Mather Group LLC. increased its stake in Wheaton Precious Metals by 36.4% in the 3rd quarter. Mather Group LLC. now owns 352 shares of the company's stock valued at $47,000 after buying an additional 94 shares during the period. Hollencrest Capital Management lifted its position in Wheaton Precious Metals by 73.5% in the 1st quarter. Hollencrest Capital Management now owns 236 shares of the company's stock worth $31,000 after buying an additional 100 shares in the last quarter. Finally, O Domhnaill Enterprises Inc. lifted its position in Wheaton Precious Metals by 0.3% in the 1st quarter. O Domhnaill Enterprises Inc. now owns 31,690 shares of the company's stock worth $4,152,000 after buying an additional 101 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WPM shares. Royal Bank Of Canada lifted their target price on shares of Wheaton Precious Metals from $160.00 to $165.00 and gave the company an "outperform" rating in a research note on Wednesday, September 16th. UBS Group upped their price target on shares of Wheaton Precious Metals from $153.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, October 8th. Weiss Ratings downgraded shares of Wheaton Precious Metals from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, October 23rd. Berenberg Bank set a $157.00 price objective on Wheaton Precious Metals in a report on Tuesday, July 28th. Finally, Jefferies Financial Group reduced their price objective on Wheaton Precious Metals from $182.00 to $177.00 and set a "buy" rating for the company in a research report on Monday, July 6th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Wheaton Precious Metals currently has an average rating of "Moderate Buy" and a consensus target price of $172.11.

Wheaton Precious Metals Stock Performance

Shares of WPM opened at $126.47 on Thursday. The firm has a market cap of $57.44 billion, a price-to-earnings ratio of 28.04, a price-to-earnings-growth ratio of 2.35 and a beta of 0.54. The company's fifty day moving average is $142.93 and its 200-day moving average is $134.00. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.20. Wheaton Precious Metals Corp. has a 12 month low of $94.28 and a 12 month high of $165.76.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.04. The business had revenue of $878.00 million during the quarter, compared to analyst estimates of $879.29 million. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. Wheaton Precious Metals's quarterly revenue was up 84.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 EPS. Equities analysts expect that Wheaton Precious Metals Corp. will post 4.61 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were issued a dividend of $0.1950 per share. This represents a $0.78 annualized dividend and a yield of 0.6%. The ex-dividend date was Thursday, August 20th. Wheaton Precious Metals's dividend payout ratio (DPR) is 17.29%.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a precious metals streaming company headquartered in Vancouver, British Columbia. Rather than operating mines directly, the company provides upfront financing to mining companies in exchange for the right to purchase a portion of the gold, silver, palladium and cobalt produced by specific mining operations at predetermined prices.

Wheaton sells the streamed metals to customers and uses the proceeds to support its operations and investments. Its portfolio is linked to mining assets operated by third parties, with exposure to projects in the Americas and other regions.

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