Rockefeller Capital Management L.P. Cuts Stock Position in Wheaton Precious Metals Corp. $WPM

Rockefeller Capital Management L.P. cut its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 73.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,447 shares of the company’s stock after selling 42,352 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Wheaton Precious Metals were worth $1,815,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Assetmark Inc. grew its position in shares of Wheaton Precious Metals by 144.4% in the 4th quarter. Assetmark Inc. now owns 220 shares of the company’s stock worth $26,000 after buying an additional 130 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its position in Wheaton Precious Metals by 100.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after acquiring an additional 117 shares during the last quarter. Cary Street Partners Investment Advisory LLC acquired a new stake in Wheaton Precious Metals in the fourth quarter valued at approximately $28,000. Navalign LLC acquired a new stake in Wheaton Precious Metals in the fourth quarter valued at approximately $30,000. Finally, Eagle Bay Advisors LLC purchased a new position in Wheaton Precious Metals in the fourth quarter worth $32,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Price Performance

Shares of WPM opened at $112.21 on Wednesday. The company’s fifty day moving average price is $127.17 and its 200-day moving average price is $132.84. Wheaton Precious Metals Corp. has a 1-year low of $85.59 and a 1-year high of $165.76. The firm has a market capitalization of $50.96 billion, a PE ratio of 28.34, a price-to-earnings-growth ratio of 2.09 and a beta of 0.51.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 20.20% and a net margin of 65.55%.The firm’s quarterly revenue was up 91.7% on a year-over-year basis. During the same quarter last year, the business posted $0.55 EPS. As a group, research analysts anticipate that Wheaton Precious Metals Corp. will post 4.99 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Investors 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 dividend on an annualized basis and a dividend yield of 0.7%. Wheaton Precious Metals’s payout ratio is 19.70%.

Analyst Upgrades and Downgrades

WPM has been the subject of a number of recent analyst reports. TD Securities raised their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Zacks Research cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. TD Cowen raised their price target on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, March 16th. UBS Group dropped their price target on Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Wall Street Zen lowered Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and an average target price of $154.73.

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.