Stack Financial Management Inc Sells 6,643 Shares of Wheaton Precious Metals Corp. $WPM

Stack Financial Management Inc lowered its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 343,649 shares of the company’s stock after selling 6,643 shares during the period. Wheaton Precious Metals comprises about 3.1% of Stack Financial Management Inc’s portfolio, making the stock its 9th largest holding. Stack Financial Management Inc owned 0.08% of Wheaton Precious Metals worth $40,386,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Wheaton Precious Metals by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 19,079,029 shares of the company’s stock valued at $2,242,969,000 after purchasing an additional 289,939 shares in the last quarter. TD Asset Management Inc grew its position in Wheaton Precious Metals by 3.5% in the third quarter. TD Asset Management Inc now owns 7,252,054 shares of the company’s stock valued at $811,726,000 after purchasing an additional 244,027 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Wheaton Precious Metals by 36.2% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,955,810 shares of the company’s stock valued at $777,938,000 after purchasing an additional 1,847,977 shares in the last quarter. Bank of Montreal Can grew its position in Wheaton Precious Metals by 26.1% in the third quarter. Bank of Montreal Can now owns 6,455,675 shares of the company’s stock valued at $722,270,000 after purchasing an additional 1,335,588 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Wheaton Precious Metals by 12.8% in the second quarter. Bank of America Corp DE now owns 4,481,459 shares of the company’s stock valued at $402,435,000 after purchasing an additional 507,577 shares in the last quarter. Institutional investors own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Zacks Research downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Wall Street Zen downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 28th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. BMO Capital Markets started 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 objective for the company. Finally, TD Securities lifted their price objective 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. Thirteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $155.45.

Wheaton Precious Metals Price Performance

Shares of WPM opened at $124.18 on Tuesday. The firm has a 50-day moving average of $140.42 and a 200-day moving average of $126.44. Wheaton Precious Metals Corp. has a one year low of $75.42 and a one year high of $165.76. The company has a market cap of $56.39 billion, a PE ratio of 38.33, a price-to-earnings-growth ratio of 2.43 and a beta of 0.50.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, March 12th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.31. Wheaton Precious Metals had a net margin of 63.58% and a return on equity of 17.17%. The company had revenue of $864.71 million during the quarter, compared to the consensus estimate of $719.59 million. During the same quarter last year, the firm posted $0.44 EPS. The company’s quarterly revenue was up 127.3% on a year-over-year basis. Analysts expect that Wheaton Precious Metals Corp. will post 4.88 earnings per share for the current year.

Wheaton Precious Metals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Tuesday, March 31st were issued a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, March 31st. This is a positive change from Wheaton Precious Metals’s previous quarterly dividend of $0.17. Wheaton Precious Metals’s payout ratio is presently 24.07%.

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.