Freemont Management S.A. Sells 8,500 Shares of Wheaton Precious Metals Corp. $WPM

Freemont Management S.A. trimmed its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 9.4% in the 1st quarter, Holdings Channel reports. The fund owned 81,500 shares of the company’s stock after selling 8,500 shares during the quarter. Wheaton Precious Metals accounts for about 1.6% of Freemont Management S.A.’s investment portfolio, making the stock its 19th biggest position. Freemont Management S.A.’s holdings in Wheaton Precious Metals were worth $10,677,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Assetmark Inc. lifted its holdings in shares of Wheaton Precious Metals by 144.4% during the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock valued at $26,000 after purchasing an additional 130 shares during the last quarter. Cornerstone Planning Group LLC boosted its position in shares of Wheaton Precious Metals by 245.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock worth $29,000 after purchasing an additional 162 shares in the last quarter. Harvest Fund Management Co. Ltd grew its stake in shares of Wheaton Precious Metals by 100.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock worth $27,000 after buying an additional 117 shares during the last quarter. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Wheaton Precious Metals in the 4th quarter worth approximately $28,000. Finally, Navalign LLC bought a new position in Wheaton Precious Metals during the 4th quarter valued at approximately $30,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Royal Bank Of Canada lowered their price objective on Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Scotiabank reduced their price target on Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Jefferies Financial Group lowered their price target on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Finally, UBS Group dropped their price target on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.09.

Wheaton Precious Metals Price Performance

NYSE WPM opened at $104.16 on Friday. The stock has a market capitalization of $47.30 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 1.85 and a beta of 0.55. Wheaton Precious Metals Corp. has a 1-year low of $87.96 and a 1-year high of $165.76. The business’s fifty day moving average price is $120.54 and its 200-day moving average price is $131.94.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, beating 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 business’s quarterly revenue was up 91.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.55 EPS. Equities research analysts anticipate that Wheaton Precious Metals Corp. will post 4.82 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were paid a $0.195 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 19.70%.

About Wheaton Precious Metals

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.