U S Global Investors Inc. Sells 129,712 Shares of Wheaton Precious Metals Corp. $WPM

U S Global Investors Inc. reduced its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 81.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 29,064 shares of the company’s stock after selling 129,712 shares during the period. U S Global Investors Inc.’s holdings in Wheaton Precious Metals were worth $3,808,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Assetmark Inc. increased its position in shares of Wheaton Precious Metals by 144.4% during the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock worth $26,000 after acquiring an additional 130 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its position in Wheaton Precious Metals by 100.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after acquiring an additional 117 shares in the last quarter. Cary Street Partners Investment Advisory LLC bought a new stake in Wheaton Precious Metals in the 4th quarter valued at $28,000. Navalign LLC acquired a new position in Wheaton Precious Metals in the 4th quarter worth $30,000. Finally, Eagle Bay Advisors LLC acquired a new position in Wheaton Precious Metals in the 4th quarter worth $32,000. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Down 0.5%

WPM traded down $0.59 during trading hours on Friday, hitting $110.06. 869,466 shares of the company’s stock were exchanged, compared to its average volume of 2,050,108. Wheaton Precious Metals Corp. has a 1-year low of $87.96 and a 1-year high of $165.76. The stock’s 50-day moving average is $123.00 and its two-hundred day moving average is $132.49. The stock has a market cap of $49.98 billion, a price-to-earnings ratio of 27.79, a PEG ratio of 1.88 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $868.35 million. During the same period in the previous year, the business earned $0.55 EPS. The company’s revenue was up 91.7% compared to the same quarter last year. On average, equities research analysts anticipate that Wheaton Precious Metals Corp. will post 4.85 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were given a $0.195 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.7%. Wheaton Precious Metals’s payout ratio is currently 19.70%.

Analysts Set New Price Targets

A number of research firms have issued reports on WPM. Royal Bank Of Canada lowered their target price on Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday. TD Securities upped their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. TD Cowen increased their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, March 16th. BMO Capital Markets began coverage on Wheaton Precious Metals in a report on Thursday, April 9th. They set an “outperform” rating and a $240.00 price objective for the company. Finally, Bank of America dropped their target price on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $161.55.

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.