Lombard Odier Asset Management Europe Ltd Sells 77,341 Shares of Wheaton Precious Metals Corp. $WPM

Lombard Odier Asset Management Europe Ltd cut its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 34.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 148,214 shares of the company’s stock after selling 77,341 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in Wheaton Precious Metals were worth $17,418,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Parvin Asset Management LLC lifted its stake 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 worth $1,401,000 after purchasing an additional 75 shares during the last quarter. Johnson Investment Counsel Inc. lifted its stake in 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 purchasing an additional 75 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in 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 purchasing an additional 78 shares during the last quarter. Gables Capital Management Inc. lifted its stake in Wheaton Precious Metals by 7.9% in the fourth quarter. Gables Capital Management Inc. now owns 1,079 shares of the company’s stock worth $127,000 after purchasing an additional 79 shares during the last quarter. Finally, Focus Financial Network Inc. lifted its stake in Wheaton Precious Metals by 2.5% in the fourth quarter. Focus Financial Network Inc. now owns 3,305 shares of the company’s stock worth $388,000 after purchasing an additional 81 shares during the last quarter. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Trading Up 3.6%

Shares of NYSE:WPM opened at $128.46 on Wednesday. The company has a market cap of $58.34 billion, a price-to-earnings ratio of 32.44, a price-to-earnings-growth ratio of 2.34 and a beta of 0.51. The company has a 50-day moving average price of $132.43 and a 200-day moving average price of $132.24. 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) 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 firm had revenue of $901.47 million during 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 quarterly revenue was up 91.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.55 earnings per share. As a group, research analysts forecast that Wheaton Precious Metals Corp. will post 4.98 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio is currently 19.70%.

Analyst Upgrades and Downgrades

WPM has been the subject of several recent research reports. TD Cowen boosted their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Scotiabank boosted their price objective on Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. TD Securities boosted their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Zacks Research downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Finally, Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $155.64.

Wheaton Precious Metals Company 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.