Bard Associates Inc. Has $4.90 Million Position in Wheaton Precious Metals Corp. $WPM

Bard Associates Inc. lowered its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 15.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 41,722 shares of the company’s stock after selling 7,569 shares during the quarter. Wheaton Precious Metals comprises 1.3% of Bard Associates Inc.’s investment portfolio, making the stock its 27th largest position. Bard Associates Inc.’s holdings in Wheaton Precious Metals were worth $4,903,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Assetmark Inc. increased its holdings in shares of Wheaton Precious Metals by 144.4% in the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock valued at $26,000 after purchasing an additional 130 shares in the last quarter. Harvest Fund Management Co. Ltd increased its holdings in shares of Wheaton Precious Metals by 100.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after purchasing an additional 117 shares in the last quarter. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at approximately $28,000. Navalign LLC acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at approximately $30,000. Finally, Eagle Bay Advisors LLC acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

WPM opened at $116.09 on Friday. The company has a fifty day moving average price of $132.81 and a two-hundred day moving average price of $131.73. Wheaton Precious Metals Corp. has a 52 week low of $85.59 and a 52 week high of $165.76. The firm has a market capitalization of $52.72 billion, a PE ratio of 29.31, a P/E/G ratio of 2.19 and a beta of 0.51.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, May 7th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $868.35 million. During the same quarter in the previous year, the business earned $0.55 EPS. The business’s quarterly revenue was up 91.7% compared to the same quarter last year. Equities analysts forecast that Wheaton Precious Metals Corp. will post 4.98 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 27th. Wheaton Precious Metals’s payout ratio is currently 19.70%.

Wall Street Analysts Forecast Growth

WPM has been the subject of a number of research reports. UBS Group raised shares of Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 price target for the company in a report on Friday, March 27th. TD Cowen raised their price target on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a report on Monday, March 16th. Scotiabank raised their price target on shares of Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. 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 target for the company. Finally, Zacks Research lowered shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to 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.