Fairtree Asset Management Pty Ltd Acquires Shares of 13,877 Wheaton Precious Metals Corp. $WPM

Fairtree Asset Management Pty Ltd acquired a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 13,877 shares of the company’s stock, valued at approximately $1,631,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Harvest Portfolios Group Inc. raised its stake in Wheaton Precious Metals by 18.7% during the 4th quarter. Harvest Portfolios Group Inc. now owns 10,570 shares of the company’s stock valued at $1,243,000 after acquiring an additional 1,666 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Wheaton Precious Metals during the 4th quarter valued at approximately $4,814,000. PNC Financial Services Group Inc. raised its stake in Wheaton Precious Metals by 3.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 34,762 shares of the company’s stock valued at $4,085,000 after acquiring an additional 1,276 shares during the last quarter. Larson Financial Group LLC raised its stake in Wheaton Precious Metals by 51.9% during the 4th quarter. Larson Financial Group LLC now owns 691 shares of the company’s stock valued at $81,000 after acquiring an additional 236 shares during the last quarter. Finally, Gables Capital Management Inc. raised its stake in Wheaton Precious Metals by 7.9% during the 4th quarter. Gables Capital Management Inc. now owns 1,079 shares of the company’s stock valued at $127,000 after acquiring an additional 79 shares during the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on WPM. Scotiabank upped their price objective on Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. UBS Group raised Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 target price for the company in a research note on Friday, March 27th. TD Cowen increased their target price on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Wheaton Precious Metals in a research note on Wednesday, February 4th. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $155.64.

Wheaton Precious Metals Trading Down 4.2%

Shares of WPM stock opened at $123.99 on Wednesday. The company has a market cap of $56.30 billion, a price-to-earnings ratio of 31.31, a price-to-earnings-growth ratio of 2.50 and a beta of 0.50. The stock has a 50 day simple moving average of $135.84 and a 200-day simple moving average of $129.07. Wheaton Precious Metals Corp. has a 12-month low of $79.93 and a 12-month high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. The business had revenue of $901.47 million during the quarter, compared to the consensus estimate 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 period in the prior year, the business posted $0.55 EPS. On average, equities analysts forecast that Wheaton Precious Metals Corp. will post 4.87 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

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