SeaBridge Investment Advisors LLC Has $8.84 Million Stock Position in Wheaton Precious Metals Corp. $WPM

SeaBridge Investment Advisors LLC grew its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 12.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,180 shares of the company’s stock after purchasing an additional 8,068 shares during the quarter. Wheaton Precious Metals comprises about 1.5% of SeaBridge Investment Advisors LLC’s portfolio, making the stock its 19th biggest holding. SeaBridge Investment Advisors LLC’s holdings in Wheaton Precious Metals were worth $8,835,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. TD Waterhouse Canada Inc. increased its position in shares of Wheaton Precious Metals by 9.4% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 809,093 shares of the company’s stock worth $89,886,000 after purchasing an additional 69,496 shares during the last quarter. J. Safra Sarasin Holding AG boosted its stake in shares of Wheaton Precious Metals by 38.5% during the 3rd quarter. J. Safra Sarasin Holding AG now owns 68,485 shares of the company’s stock worth $7,659,000 after acquiring an additional 19,050 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in shares of Wheaton Precious Metals during the 3rd quarter worth approximately $11,355,000. Varma Mutual Pension Insurance Co boosted its stake in shares of Wheaton Precious Metals by 8.5% during the 3rd quarter. Varma Mutual Pension Insurance Co now owns 207,358 shares of the company’s stock worth $23,210,000 after acquiring an additional 16,300 shares during the period. Finally, Voya Investment Management LLC boosted its stake in shares of Wheaton Precious Metals by 7.4% during the 3rd quarter. Voya Investment Management LLC now owns 246,827 shares of the company’s stock worth $27,608,000 after acquiring an additional 16,908 shares during the period. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

WPM has been the subject of several research analyst reports. 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 research note on Friday, March 27th. TD Securities lifted their target price on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. BMO Capital Markets initiated coverage on Wheaton Precious Metals in a research note on Thursday, April 9th. They set an “outperform” rating and a $240.00 target price for the company. TD Cowen lifted their target price on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Finally, Scotiabank lifted their target price on Wheaton Precious Metals from $175.00 to $178.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 16th. Thirteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and a consensus target price of $155.45.

Wheaton Precious Metals Price Performance

WPM opened at $147.77 on Wednesday. The business has a fifty day simple moving average of $141.01 and a 200 day simple moving average of $123.81. The company has a market capitalization of $67.09 billion, a PE ratio of 45.61, a price-to-earnings-growth ratio of 3.30 and a beta of 0.60. Wheaton Precious Metals Corp. has a 1 year low of $75.42 and a 1 year high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, March 12th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.31. The business had revenue of $864.71 million during the quarter, compared to the consensus estimate of $719.59 million. Wheaton Precious Metals had a return on equity of 17.17% and a net margin of 63.58%.The firm’s quarterly revenue was up 127.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 EPS. Equities analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Tuesday, March 31st. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.17. Wheaton Precious Metals’s dividend payout ratio is currently 24.07%.

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.