Wheaton Precious Metals Corp. $WPM Holdings Lessened by Louisbourg Investments Inc.

Louisbourg Investments Inc. reduced its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 6.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 85,578 shares of the company’s stock after selling 6,192 shares during the quarter. Wheaton Precious Metals accounts for 2.0% of Louisbourg Investments Inc.’s investment portfolio, making the stock its 7th largest position. Louisbourg Investments Inc.’s holdings in Wheaton Precious Metals were worth $11,211,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in WPM. Assetmark Inc. lifted its stake in 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 purchasing an additional 130 shares in the last quarter. Harvest Fund Management Co. Ltd grew its stake in shares of Wheaton Precious Metals by 100.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after buying an additional 117 shares in the last quarter. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Wheaton Precious Metals in the 4th quarter valued at $28,000. Navalign LLC purchased a new stake in shares of Wheaton Precious Metals in the 4th quarter valued at $30,000. Finally, Eagle Bay Advisors LLC acquired a new position in Wheaton Precious Metals during the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

WPM stock opened at $113.32 on Friday. The company’s 50 day moving average price is $128.66 and its 200 day moving average price is $132.64. The firm has a market capitalization of $51.46 billion, a price-to-earnings ratio of 28.62, a PEG ratio of 2.13 and a beta of 0.51. Wheaton Precious Metals Corp. has a fifty-two week low of $85.59 and a fifty-two week high of $165.76.

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, topping analysts’ consensus estimates 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 company had revenue of $901.47 million during the quarter, compared to the consensus estimate of $868.35 million. During the same quarter in the previous year, the firm earned $0.55 earnings per share. The firm’s quarterly revenue was up 91.7% on a year-over-year basis. Equities analysts forecast that Wheaton Precious Metals Corp. will post 4.99 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

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 of this dividend was Wednesday, May 27th. Wheaton Precious Metals’s payout ratio is 19.70%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. UBS Group upgraded Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 target price for the company in a report on Friday, March 27th. BMO Capital Markets started coverage on shares of Wheaton Precious Metals in a report on Thursday, April 9th. They issued an “outperform” rating and a $240.00 price objective for the company. Zacks Research lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. TD Securities raised their price target on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Finally, Scotiabank boosted their price target 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, May 14th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.