Mad River Investors Sells 2,200 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Mad River Investors cut its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 1.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 152,743 shares of the company’s stock after selling 2,200 shares during the quarter. Wheaton Precious Metals makes up approximately 5.0% of Mad River Investors’ investment portfolio, making the stock its 3rd largest position. Mad River Investors’ holdings in Wheaton Precious Metals were worth $7,199,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. CVA Family Office LLC purchased a new stake in Wheaton Precious Metals during the 4th quarter valued at about $26,000. McGlone Suttner Wealth Management Inc. acquired a new position in Wheaton Precious Metals in the fourth quarter valued at approximately $31,000. Principal Securities Inc. purchased a new position in Wheaton Precious Metals in the fourth quarter worth approximately $39,000. Fifth Third Bancorp raised its position in Wheaton Precious Metals by 230.7% in the fourth quarter. Fifth Third Bancorp now owns 863 shares of the company’s stock valued at $43,000 after purchasing an additional 602 shares during the period. Finally, St. Johns Investment Management Company LLC acquired a new position in shares of Wheaton Precious Metals in the 1st quarter valued at $52,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Jefferies Financial Group upped their target price on shares of Wheaton Precious Metals from $52.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Bank of America raised their price target on Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Berenberg Bank boosted their price objective on Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Scotiabank lifted their target price on Wheaton Precious Metals from $59.00 to $66.50 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Finally, TD Securities raised shares of Wheaton Precious Metals from a “hold” rating to a “buy” rating and increased their price target for the stock from $51.00 to $53.00 in a research report on Monday, March 18th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and a consensus price target of $61.50.

Wheaton Precious Metals Trading Up 3.6 %

Shares of Wheaton Precious Metals stock traded up $1.91 during trading hours on Thursday, reaching $54.52. 723,646 shares of the company’s stock were exchanged, compared to its average volume of 1,302,927. The firm has a market capitalization of $24.73 billion, a price-to-earnings ratio of 41.97, a price-to-earnings-growth ratio of 1.83 and a beta of 0.76. The company has a fifty day moving average of $54.28 and a 200-day moving average of $49.49. Wheaton Precious Metals Corp. has a 52-week low of $38.37 and a 52-week high of $57.87.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The business had revenue of $296.80 million during the quarter, compared to the consensus estimate of $278.95 million. Wheaton Precious Metals had a return on equity of 8.53% and a net margin of 53.74%. The business’s revenue for the quarter was up 38.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 EPS. On average, equities research analysts anticipate that Wheaton Precious Metals Corp. will post 1.29 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Wednesday, May 29th were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Wednesday, May 29th. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 47.69%.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.