Horizon Kinetics Asset Management LLC Reduces Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Horizon Kinetics Asset Management LLC cut its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 0.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,754,175 shares of the company’s stock after selling 7,333 shares during the period. Wheaton Precious Metals comprises 2.5% of Horizon Kinetics Asset Management LLC’s portfolio, making the stock its 5th biggest position. Horizon Kinetics Asset Management LLC owned 0.61% of Wheaton Precious Metals worth $168,225,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in WPM. Well Done LLC increased its holdings in Wheaton Precious Metals by 173.9% during the third quarter. Well Done LLC now owns 38,108 shares of the company’s stock valued at $2,328,000 after buying an additional 24,196 shares during the period. Lighthouse Investment Partners LLC bought a new position in shares of Wheaton Precious Metals in the 2nd quarter worth $1,016,000. Swiss National Bank lifted its stake in shares of Wheaton Precious Metals by 0.8% during the 3rd quarter. Swiss National Bank now owns 1,370,800 shares of the company’s stock worth $83,854,000 after purchasing an additional 10,600 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Wheaton Precious Metals by 10.6% during the 3rd quarter. CIBC Asset Management Inc now owns 2,273,160 shares of the company’s stock worth $140,099,000 after purchasing an additional 218,575 shares during the last quarter. Finally, King Luther Capital Management Corp boosted its position in Wheaton Precious Metals by 48.1% during the third quarter. King Luther Capital Management Corp now owns 1,501,037 shares of the company’s stock valued at $91,683,000 after purchasing an additional 487,190 shares in the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

Shares of WPM opened at $62.88 on Monday. The stock has a 50-day moving average of $63.01 and a two-hundred day moving average of $59.20. The stock has a market cap of $28.53 billion, a P/E ratio of 47.62, a P/E/G ratio of 2.33 and a beta of 0.77. Wheaton Precious Metals Corp. has a one year low of $38.57 and a one year high of $68.64.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, meeting analysts’ consensus estimates of $0.34. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The firm had revenue of $308.25 million for the quarter, compared to analyst estimates of $324.57 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. Analysts predict that Wheaton Precious Metals Corp. will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 21st will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a yield of 0.99%. Wheaton Precious Metals’s dividend payout ratio is presently 46.27%.

Wall Street Analyst Weigh In

A number of brokerages have commented on WPM. Stifel Canada downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Scotiabank increased their target price on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Jefferies Financial Group increased their price objective on Wheaton Precious Metals from $67.00 to $77.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, TD Securities boosted their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating and nine have given a buy 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 $71.67.

About Wheaton Precious Metals

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.