Mad River Investors Trims Stake in Wheaton Precious Metals Corp. $WPM

Mad River Investors decreased its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 15.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 97,927 shares of the company’s stock after selling 17,998 shares during the period. Wheaton Precious Metals makes up 4.7% of Mad River Investors’ holdings, making the stock its 6th largest position. Mad River Investors’ holdings in Wheaton Precious Metals were worth $10,952,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Bulwark Capital Corp bought a new position in shares of Wheaton Precious Metals in the second quarter valued at $27,000. Delta Asset Management LLC TN acquired a new stake in Wheaton Precious Metals during the second quarter worth approximately $27,000. Wealth Preservation Advisors LLC acquired a new stake in Wheaton Precious Metals during the first quarter worth approximately $38,000. City State Bank boosted its holdings in shares of Wheaton Precious Metals by 40.0% during the second quarter. City State Bank now owns 560 shares of the company’s stock worth $50,000 after acquiring an additional 160 shares during the period. Finally, Pacifica Partners Inc. grew its position in shares of Wheaton Precious Metals by 27.8% in the third quarter. Pacifica Partners Inc. now owns 460 shares of the company’s stock valued at $51,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on WPM shares. Bank of America lifted their price target on Wheaton Precious Metals from $127.00 to $132.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Zacks Research raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Monday, November 24th. Royal Bank Of Canada raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $115.00 to $130.00 in a research report on Wednesday, December 10th. Jefferies Financial Group reaffirmed a “buy” rating and set a $145.00 price target on shares of Wheaton Precious Metals in a research report on Sunday, December 7th. Finally, UBS Group lifted their price objective on shares of Wheaton Precious Metals from $116.00 to $118.00 and gave the stock a “neutral” rating in a research note on Monday, December 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $130.78.

Wheaton Precious Metals Stock Performance

NYSE:WPM opened at $119.75 on Monday. The company has a market cap of $54.37 billion, a price-to-earnings ratio of 54.43, a PEG ratio of 1.78 and a beta of 0.54. Wheaton Precious Metals Corp. has a fifty-two week low of $55.47 and a fifty-two week high of $120.55. The stock has a fifty day moving average price of $104.99 and a 200-day moving average price of $99.85.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The business had revenue of $476.26 million during the quarter, compared to the consensus estimate of $495.53 million. Wheaton Precious Metals had a return on equity of 13.32% and a net margin of 54.72%.Wheaton Precious Metals’s revenue for the quarter was up 54.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 earnings per share. Research analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, November 20th were given a dividend of $0.165 per share. The ex-dividend date was Thursday, November 20th. This represents a $0.66 annualized dividend and a dividend yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 30.00%.

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.