Freemont Management S.A. Has $10.68 Million Stock Holdings in Wheaton Precious Metals Corp. $WPM

Freemont Management S.A. lessened its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 9.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,500 shares of the company’s stock after selling 8,500 shares during the quarter. Wheaton Precious Metals comprises 1.6% of Freemont Management S.A.’s investment portfolio, making the stock its 19th biggest holding. Freemont Management S.A.’s holdings in Wheaton Precious Metals were worth $10,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the company. Assetmark Inc. increased its position in shares of Wheaton Precious Metals by 144.4% during the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock worth $26,000 after acquiring an additional 130 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its position in Wheaton Precious Metals by 100.0% in the 4th 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 in the last quarter. Cary Street Partners Investment Advisory LLC bought a new position in Wheaton Precious Metals in the 4th quarter valued at about $28,000. Cornerstone Planning Group LLC boosted its stake in Wheaton Precious Metals by 245.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock valued at $29,000 after purchasing an additional 162 shares during the last quarter. Finally, Navalign LLC acquired a new position in Wheaton Precious Metals during the 4th quarter valued at about $30,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Trading Down 0.1%

Shares of Wheaton Precious Metals stock opened at $104.16 on Friday. Wheaton Precious Metals Corp. has a 12-month low of $87.96 and a 12-month high of $165.76. The company has a market cap of $47.30 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 1.85 and a beta of 0.55. The company’s 50-day moving average price is $120.54 and its 200-day moving average price is $131.94.

Wheaton Precious Metals (NYSE:WPM) last issued 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. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The firm had revenue of $901.47 million during the quarter, compared to the consensus estimate of $868.35 million. During the same quarter last year, the company posted $0.55 EPS. The company’s revenue for the quarter was up 91.7% on a year-over-year basis. On average, sell-side analysts predict that Wheaton Precious Metals Corp. will post 4.82 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were given 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 yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio is presently 19.70%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wall Street Zen lowered Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. BMO Capital Markets began coverage on Wheaton Precious Metals in a report on Thursday, April 9th. They set an “outperform” rating and a $240.00 price target for the company. Royal Bank Of Canada lowered their price target on Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. UBS Group dropped their price objective on 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. Finally, Jefferies Financial Group cut their price objective on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $161.09.

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.