Profund Advisors LLC Decreases Holdings in Wheaton Precious Metals Corp. $WPM

Profund Advisors LLC lessened its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 16.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,638 shares of the company’s stock after selling 9,364 shares during the period. Profund Advisors LLC’s holdings in Wheaton Precious Metals were worth $5,481,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in WPM. Nisa Investment Advisors LLC purchased a new stake in Wheaton Precious Metals during the third quarter worth about $26,000. Assetmark Inc. increased its stake in shares of Wheaton Precious Metals by 144.4% in the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock worth $26,000 after purchasing an additional 130 shares in the last quarter. Root Financial Partners LLC purchased a new position in shares of Wheaton Precious Metals in the third quarter worth about $29,000. Navalign LLC purchased a new position in shares of Wheaton Precious Metals in the fourth quarter worth about $30,000. Finally, Eagle Bay Advisors LLC purchased a new position in shares of Wheaton Precious Metals in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on WPM. TD Securities lifted their target price on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Scotiabank lifted their target price on shares of Wheaton Precious Metals from $178.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday. Wall Street Zen downgraded shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Wednesday, February 4th. Finally, TD Cowen lifted their target price on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Thirteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $155.64.

Wheaton Precious Metals Trading Down 0.8%

Shares of NYSE:WPM opened at $129.39 on Tuesday. The company has a 50 day moving average of $136.30 and a 200 day moving average of $128.87. The stock has a market cap of $58.75 billion, a P/E ratio of 32.67, a P/E/G ratio of 2.52 and a beta of 0.50. Wheaton Precious Metals Corp. has a 12 month low of $79.00 and a 12 month high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data 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 net margin of 65.55% and a return on equity of 20.20%. Wheaton Precious Metals’s revenue for the quarter was up 91.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.55 earnings per share. On average, equities analysts forecast that Wheaton Precious Metals Corp. will post 4.87 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th will be paid a dividend of $0.195 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $0.78 annualized dividend and a yield of 0.6%. Wheaton Precious Metals’s payout ratio is currently 19.70%.

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.