9,190 Shares in Wheaton Precious Metals Corp. $WPM Purchased by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC bought a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the 4th quarter, HoldingsChannel.com reports. The firm bought 9,190 shares of the company’s stock, valued at approximately $1,080,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. grew its position in Wheaton Precious Metals by 144.4% during the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock worth $26,000 after buying an additional 130 shares in the last quarter. Cary Street Partners Investment Advisory LLC purchased a new position in Wheaton Precious Metals during the fourth quarter worth about $28,000. Navalign LLC purchased a new position in Wheaton Precious Metals during the fourth quarter worth about $30,000. Eagle Bay Advisors LLC purchased a new position in Wheaton Precious Metals during the fourth quarter worth about $32,000. Finally, Triumph Capital Management purchased a new position in Wheaton Precious Metals during the third quarter worth about $33,000. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WPM has been the subject of several recent analyst reports. UBS Group upgraded Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 target price for the company in a research report on Friday, March 27th. TD Cowen boosted their target price 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. TD Securities upped their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Zacks Research cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Wheaton Precious Metals in a report on Wednesday, February 4th. Thirteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $155.64.

Wheaton Precious Metals Trading Down 2.9%

NYSE WPM opened at $128.76 on Tuesday. Wheaton Precious Metals Corp. has a 1-year low of $85.59 and a 1-year high of $165.76. The stock has a 50-day moving average of $133.78 and a 200-day moving average of $130.99. The firm has a market cap of $58.47 billion, a PE ratio of 32.52, a price-to-earnings-growth ratio of 2.50 and a beta of 0.50.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates 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 company 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 company posted $0.55 EPS. Wheaton Precious Metals’s revenue for the quarter was up 91.7% on a year-over-year basis. As a group, equities research analysts forecast that Wheaton Precious Metals Corp. will post 4.98 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th will be paid a $0.195 dividend. This represents a $0.78 dividend on an annualized basis 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 19.70%.

Wheaton Precious Metals Profile

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.