J. Safra Sarasin Holding AG Reduces Stock Position in Wheaton Precious Metals Corp. $WPM

J. Safra Sarasin Holding AG cut its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 18.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 78,290 shares of the company’s stock after selling 17,924 shares during the period. J. Safra Sarasin Holding AG’s holdings in Wheaton Precious Metals were worth $10,251,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in WPM. Assetmark Inc. lifted its holdings in shares of Wheaton Precious Metals by 144.4% in the 4th quarter. Assetmark Inc. now owns 220 shares of the company’s stock valued at $26,000 after acquiring an additional 130 shares during the last quarter. Harvest Fund Management Co. Ltd increased its stake in Wheaton Precious Metals by 100.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock worth $27,000 after acquiring an additional 117 shares during the last quarter. Cary Street Partners Investment Advisory LLC bought a new stake in Wheaton Precious Metals during the fourth quarter worth approximately $28,000. Navalign LLC purchased a new stake in Wheaton Precious Metals during the fourth quarter valued at approximately $30,000. Finally, Eagle Bay Advisors LLC purchased a new stake in Wheaton Precious Metals during the fourth quarter valued at approximately $32,000. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WPM has been the subject of several analyst reports. Royal Bank Of Canada lowered their price objective on Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday. Bank of America cut their target price on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday. UBS Group decreased their price target on Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. TD Securities raised their price target on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Finally, BMO Capital Markets began coverage on shares of Wheaton Precious Metals in a research note on Thursday, April 9th. They set an “outperform” rating and a $240.00 price objective for the company. Twelve investment 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 an average price target of $161.55.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock opened at $110.06 on Monday. Wheaton Precious Metals Corp. has a 1-year low of $87.96 and a 1-year high of $165.76. The firm has a market capitalization of $49.98 billion, a P/E ratio of 27.79, a price-to-earnings-growth ratio of 1.89 and a beta of 0.55. The company’s 50-day moving average is $123.00 and its 200 day moving average is $132.56.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.04. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The business had revenue of $901.47 million during the quarter, compared to analyst estimates of $868.35 million. During the same quarter in the previous year, the business earned $0.55 earnings per share. The company’s revenue for the quarter was up 91.7% compared to the same quarter last year. Research analysts anticipate that Wheaton Precious Metals Corp. will post 4.78 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were paid a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 19.70%.

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.