Bard Associates Inc. Sells 7,569 Shares of Wheaton Precious Metals Corp. $WPM

Bard Associates Inc. decreased its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 15.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,722 shares of the company’s stock after selling 7,569 shares during the period. Wheaton Precious Metals comprises 1.3% of Bard Associates Inc.’s portfolio, making the stock its 27th biggest holding. Bard Associates Inc.’s holdings in Wheaton Precious Metals were worth $4,903,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Johnson Investment Counsel Inc. lifted its stake in Wheaton Precious Metals by 0.4% during the fourth quarter. Johnson Investment Counsel Inc. now owns 20,465 shares of the company’s stock worth $2,405,000 after purchasing an additional 75 shares during the period. Concurrent Investment Advisors LLC lifted its stake in Wheaton Precious Metals by 1.9% during the fourth quarter. Concurrent Investment Advisors LLC now owns 4,203 shares of the company’s stock worth $494,000 after purchasing an additional 78 shares during the period. Gables Capital Management Inc. lifted its stake in Wheaton Precious Metals by 7.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,079 shares of the company’s stock worth $127,000 after purchasing an additional 79 shares during the period. Focus Financial Network Inc. lifted its stake in Wheaton Precious Metals by 2.5% during the fourth quarter. Focus Financial Network Inc. now owns 3,305 shares of the company’s stock worth $388,000 after purchasing an additional 81 shares during the period. Finally, J.W. Cole Advisors Inc. lifted its stake in Wheaton Precious Metals by 0.8% during the fourth quarter. J.W. Cole Advisors Inc. now owns 11,926 shares of the company’s stock worth $1,343,000 after purchasing an additional 91 shares during the period. Institutional investors own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WPM. TD Cowen raised their price target on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Scotiabank raised their price target on shares of Wheaton Precious Metals from $178.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Wall Street Zen cut shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. BMO Capital Markets began coverage on shares of Wheaton Precious Metals in a research note on Thursday, April 9th. They set an “outperform” rating and a $240.00 price target for the company. Finally, Zacks Research cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. 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, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and a consensus price target of $155.64.

Wheaton Precious Metals Trading Up 3.0%

NYSE WPM opened at $116.09 on Friday. The firm has a market cap of $52.72 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 2.19 and a beta of 0.51. The company has a 50 day moving average of $132.81 and a 200-day moving average of $131.73. Wheaton Precious Metals Corp. has a 1-year low of $85.59 and a 1-year high of $165.76.

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

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were issued a dividend of $0.195 per share. 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 presently 19.70%.

Wheaton Precious Metals Company 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.