Pinnbrook Capital Management LP Lowers Stake in Wheaton Precious Metals Corp. $WPM

Pinnbrook Capital Management LP reduced its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 49.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,789 shares of the company’s stock after selling 16,547 shares during the quarter. Pinnbrook Capital Management LP’s holdings in Wheaton Precious Metals were worth $1,973,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of WPM. TD Waterhouse Canada Inc. lifted its stake in Wheaton Precious Metals by 9.4% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 809,093 shares of the company’s stock valued at $89,886,000 after buying an additional 69,496 shares in the last quarter. J. Safra Sarasin Holding AG lifted its stake in Wheaton Precious Metals by 38.5% in the 3rd quarter. J. Safra Sarasin Holding AG now owns 68,485 shares of the company’s stock valued at $7,659,000 after buying an additional 19,050 shares in the last quarter. Varma Mutual Pension Insurance Co lifted its stake in Wheaton Precious Metals by 8.5% in the 3rd quarter. Varma Mutual Pension Insurance Co now owns 207,358 shares of the company’s stock valued at $23,210,000 after buying an additional 16,300 shares in the last quarter. TD Asset Management Inc lifted its stake in Wheaton Precious Metals by 3.5% in the 3rd quarter. TD Asset Management Inc now owns 7,252,054 shares of the company’s stock valued at $811,726,000 after buying an additional 244,027 shares in the last quarter. Finally, Mediolanum International Funds Ltd lifted its stake in Wheaton Precious Metals by 35.6% in the 3rd quarter. Mediolanum International Funds Ltd now owns 72,970 shares of the company’s stock valued at $8,063,000 after buying an additional 19,159 shares in the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

Wheaton Precious Metals stock opened at $127.39 on Friday. Wheaton Precious Metals Corp. has a fifty-two week low of $84.05 and a fifty-two week high of $165.76. The firm has a 50 day moving average price of $134.95 and a 200 day moving average price of $129.50. The company has a market capitalization of $57.85 billion, a PE ratio of 32.17, a price-to-earnings-growth ratio of 2.46 and a beta of 0.50.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.04. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The firm had revenue of $901.47 million during the quarter, compared to the consensus estimate of $868.35 million. During the same quarter last year, the firm earned $0.55 EPS. The firm’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 4.87 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced 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. This represents a $0.78 annualized dividend and a yield of 0.6%. The ex-dividend date is Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio (DPR) is 19.70%.

Analyst Upgrades and Downgrades

WPM has been the topic of a number of research reports. Wall Street Zen lowered shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Zacks Research downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. UBS Group upgraded shares of Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 price objective for the company in a report on Friday, March 27th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Wheaton Precious Metals in a report on Wednesday, February 4th. Finally, BMO Capital Markets initiated coverage on shares of Wheaton Precious Metals in a report on Thursday, April 9th. They issued an “outperform” rating and a $240.00 price objective for the company. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $155.64.

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.