Wheaton Precious Metals Corp. $WPM Stock Position Cut by Extract Advisors LLC

Extract Advisors LLC reduced its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 16.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 60,090 shares of the company’s stock after selling 11,509 shares during the period. Wheaton Precious Metals accounts for approximately 2.7% of Extract Advisors LLC’s investment portfolio, making the stock its 9th largest holding. Extract Advisors LLC’s holdings in Wheaton Precious Metals were worth $7,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Parvin Asset Management LLC lifted its holdings in Wheaton Precious Metals by 0.6% in the fourth quarter. Parvin Asset Management LLC now owns 11,925 shares of the company’s stock valued at $1,401,000 after acquiring an additional 75 shares during the period. Johnson Investment Counsel Inc. boosted its holdings in shares of Wheaton Precious Metals by 0.4% in the fourth quarter. Johnson Investment Counsel Inc. now owns 20,465 shares of the company’s stock worth $2,405,000 after buying an additional 75 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in shares of Wheaton Precious Metals by 1.9% in the fourth quarter. Concurrent Investment Advisors LLC now owns 4,203 shares of the company’s stock worth $494,000 after buying an additional 78 shares during the last quarter. Gables Capital Management Inc. grew its position in Wheaton Precious Metals by 7.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,079 shares of the company’s stock valued at $127,000 after buying an additional 79 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its position in Wheaton Precious Metals by 0.3% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 27,105 shares of the company’s stock valued at $3,185,000 after buying an additional 86 shares during the period. Institutional investors own 70.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. BMO Capital Markets assumed coverage on shares of Wheaton Precious Metals in a research report on Thursday, April 9th. They issued an “outperform” rating and a $240.00 price target on the stock. Weiss Ratings downgraded shares of Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Scotiabank reduced their price objective on Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. Wall Street Zen cut Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, UBS Group decreased their target price on Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and an average price target of $161.09.

Wheaton Precious Metals Trading Up 0.4%

Wheaton Precious Metals stock opened at $111.91 on Tuesday. Wheaton Precious Metals Corp. has a 12-month low of $90.39 and a 12-month high of $165.76. The firm has a market capitalization of $50.83 billion, a price-to-earnings ratio of 28.26, a P/E/G ratio of 2.01 and a beta of 0.55. The firm has a 50 day moving average of $117.15 and a 200 day moving average of $131.63.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.04. The business had revenue of $901.47 million for the quarter, compared to the consensus estimate of $868.35 million. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The company’s revenue for the quarter was up 91.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 earnings per share. On average, analysts predict that Wheaton Precious Metals Corp. will post 4.73 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were given a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 19.70%.

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.