Freemont Management S.A. Acquires New Holdings in Wheaton Precious Metals Corp. $WPM

Freemont Management S.A. acquired a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 90,000 shares of the company’s stock, valued at approximately $10,577,000. Wheaton Precious Metals makes up about 1.8% of Freemont Management S.A.’s portfolio, making the stock its 14th biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. raised its position in Wheaton Precious Metals by 144.4% during the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock valued at $26,000 after acquiring an additional 130 shares in the last quarter. Nisa Investment Advisors LLC bought a new position in Wheaton Precious Metals during the third quarter valued at approximately $26,000. Navalign LLC bought a new position in Wheaton Precious Metals during the fourth quarter valued at approximately $30,000. Root Financial Partners LLC bought a new position in Wheaton Precious Metals during the third quarter valued at approximately $29,000. Finally, Eagle Bay Advisors LLC bought a new position in Wheaton Precious Metals during the fourth quarter valued at approximately $32,000. Institutional investors own 70.34% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on WPM. BMO Capital Markets began coverage on shares of Wheaton Precious Metals in a research report on Thursday, April 9th. They set an “outperform” rating and a $240.00 price objective on the stock. Scotiabank increased their price target on Wheaton Precious Metals from $175.00 to $178.00 and gave the company a “sector outperform” rating in a report on Monday, March 16th. UBS Group upgraded Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 price target on the stock in a report on Friday, March 27th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Wheaton Precious Metals in a report on Wednesday, February 4th. Finally, TD Securities increased their price target on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a report on Monday, March 16th. Thirteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and a consensus target price of $155.45.

Wheaton Precious Metals Stock Down 0.3%

Shares of WPM stock opened at $142.34 on Thursday. The business’s 50 day moving average is $137.38 and its two-hundred day moving average is $128.09. The company has a market cap of $64.64 billion, a PE ratio of 35.94, a price-to-earnings-growth ratio of 2.75 and a beta of 0.50. Wheaton Precious Metals Corp. has a 12 month low of $75.42 and a 12 month high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.04. The business had revenue of $901.47 million for 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%. Wheaton Precious Metals’s quarterly revenue was up 91.7% on a year-over-year basis. During the same quarter last year, the company posted $0.55 earnings per share. As a group, equities analysts expect that Wheaton Precious Metals Corp. will post 4.88 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th will be paid a $0.195 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $0.78 annualized dividend and a dividend yield of 0.5%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 19.70%.

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.