Gabelli Funds LLC Sells 305,800 Shares of Wheaton Precious Metals Corp. $WPM

Gabelli Funds LLC decreased its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 48.6% during the 4th quarter, Holdings Channel reports. The firm owned 323,000 shares of the company’s stock after selling 305,800 shares during the period. Gabelli Funds LLC’s holdings in Wheaton Precious Metals were worth $37,959,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Concurrent Investment Advisors LLC grew its holdings in shares of Wheaton Precious Metals by 1.9% in the fourth quarter. Concurrent Investment Advisors LLC now owns 4,203 shares of the company’s stock worth $494,000 after purchasing an additional 78 shares during the last quarter. Focus Financial Network Inc. grew its holdings in shares of Wheaton Precious Metals by 2.5% in the fourth quarter. Focus Financial Network Inc. now owns 3,305 shares of the company’s stock worth $388,000 after purchasing an additional 81 shares during the last quarter. Jamison Private Wealth Management Inc. grew its holdings in shares of Wheaton Precious Metals by 1.7% in the fourth quarter. Jamison Private Wealth Management Inc. now owns 5,375 shares of the company’s stock worth $632,000 after purchasing an additional 92 shares during the last quarter. Capital Investment Advisors LLC boosted its holdings in Wheaton Precious Metals by 3.9% in the fourth quarter. Capital Investment Advisors LLC now owns 2,460 shares of the company’s stock valued at $289,000 after acquiring an additional 93 shares in the last quarter. Finally, Wesbanco Bank Inc. boosted its holdings in Wheaton Precious Metals by 3.5% in the fourth quarter. Wesbanco Bank Inc. now owns 2,923 shares of the company’s stock valued at $344,000 after acquiring an additional 98 shares in the last quarter. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Trading Down 0.0%

Shares of Wheaton Precious Metals stock opened at $130.37 on Monday. The firm has a market capitalization of $59.20 billion, a P/E ratio of 32.92, a P/E/G ratio of 2.52 and a beta of 0.50. The business has a fifty day simple moving average of $136.66 and a two-hundred day simple moving average of $128.63. Wheaton Precious Metals Corp. has a 12 month low of $76.77 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 EPS for the quarter, beating the consensus estimate of $1.24 by $0.04. The business had revenue of $901.47 million during the quarter, compared to analyst estimates of $868.35 million. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The company’s revenue for the quarter was up 91.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 earnings per share. Analysts predict that Wheaton Precious Metals Corp. will post 4.87 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th will be given a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, May 27th. Wheaton Precious Metals’s payout ratio is currently 19.70%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Scotiabank lifted their price target on shares of Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Wheaton Precious Metals in a report on Wednesday, February 4th. TD Cowen lifted their price target on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a report on Monday, March 16th. UBS Group upgraded shares of 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. Finally, TD Securities lifted their price target on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a report on Monday, March 16th. Thirteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.64.

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.