Bowen Hanes & Co. Inc. Sells 23,455 Shares of Wheaton Precious Metals Corp. $WPM

Bowen Hanes & Co. Inc. reduced its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 3.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 594,385 shares of the company’s stock after selling 23,455 shares during the quarter. Wheaton Precious Metals makes up about 1.8% of Bowen Hanes & Co. Inc.’s portfolio, making the stock its 20th biggest holding. Bowen Hanes & Co. Inc. owned 0.13% of Wheaton Precious Metals worth $69,852,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. WCG Wealth Advisors LLC bought a new position in shares of Wheaton Precious Metals during the fourth quarter worth approximately $1,331,000. Bank of New York Mellon Corp boosted its stake in shares of Wheaton Precious Metals by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 471,397 shares of the company’s stock valued at $55,399,000 after buying an additional 1,370 shares during the period. Greenwich Wealth Management LLC boosted its stake in shares of Wheaton Precious Metals by 70.0% in the fourth quarter. Greenwich Wealth Management LLC now owns 17,000 shares of the company’s stock valued at $1,998,000 after buying an additional 7,000 shares during the period. Clear Harbor Asset Management LLC bought a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at approximately $1,080,000. Finally, MUFG Securities EMEA plc bought a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at approximately $38,804,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Analyst Ratings Changes

WPM has been the subject of several recent research reports. Scotiabank boosted their price target 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. BMO Capital Markets began coverage on Wheaton Precious Metals in a research note on Thursday, April 9th. They set an “outperform” rating and a $240.00 target price for the company. TD Cowen upped 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. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Wednesday, February 4th. Finally, 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 note on Friday, March 27th. Thirteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $155.64.

Wheaton Precious Metals Stock Performance

Shares of WPM opened at $125.09 on Thursday. Wheaton Precious Metals Corp. has a 52 week low of $85.59 and a 52 week high of $165.76. The stock has a market capitalization of $56.80 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 2.46 and a beta of 0.51. The stock has a fifty day moving average of $134.21 and a 200-day moving average of $131.28.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. The business had revenue of $901.47 million for the quarter, compared to analyst estimates of $868.35 million. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.Wheaton Precious Metals’s quarterly revenue was up 91.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS. As a group, equities analysts forecast that Wheaton Precious Metals Corp. will post 4.98 EPS for the current year.

Wheaton Precious Metals Announces Dividend

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