Andra AP fonden Sells 6,986 Shares of Wheaton Precious Metals Corp. $WPM

Andra AP fonden cut its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 9.0% in the 1st quarter, Holdings Channel reports. The firm owned 70,914 shares of the company’s stock after selling 6,986 shares during the period. Andra AP fonden’s holdings in Wheaton Precious Metals were worth $9,290,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in WPM. Vanguard Group Inc. grew its position in Wheaton Precious Metals by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 19,079,029 shares of the company’s stock valued at $2,242,969,000 after purchasing an additional 289,939 shares during the last quarter. Van ECK Associates Corp increased its stake in Wheaton Precious Metals by 10.7% in the 4th quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company’s stock worth $1,700,517,000 after buying an additional 1,402,092 shares in the last quarter. Capital International Investors lifted its holdings in shares of Wheaton Precious Metals by 1.2% in the fourth quarter. Capital International Investors now owns 7,595,725 shares of the company’s stock worth $892,650,000 after buying an additional 93,599 shares in the last quarter. Norges Bank bought a new position in Wheaton Precious Metals during the fourth quarter valued at approximately $864,977,000. Finally, TD Asset Management Inc increased its holdings in shares of Wheaton Precious Metals by 0.5% in the 4th quarter. TD Asset Management Inc now owns 7,285,275 shares of the company’s stock worth $857,598,000 after buying an additional 33,221 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

Shares of NYSE:WPM opened at $109.87 on Wednesday. Wheaton Precious Metals Corp. has a 1 year low of $90.39 and a 1 year high of $165.76. The firm has a market capitalization of $49.90 billion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 1.87 and a beta of 0.55. The firm’s 50-day moving average is $119.08 and its two-hundred day moving average is $131.89.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results 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. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The company had revenue of $901.47 million for the quarter, compared to the consensus estimate of $868.35 million. During the same quarter in the prior year, the business earned $0.55 EPS. Wheaton Precious Metals’s revenue was up 91.7% on a year-over-year basis. Analysts expect that Wheaton Precious Metals Corp. will post 4.73 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders 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%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. UBS Group decreased their price objective on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. BMO Capital Markets assumed coverage on shares of Wheaton Precious Metals in a research report on Thursday, April 9th. They set an “outperform” rating and a $240.00 target price on the stock. Royal Bank Of Canada lowered their price target on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Wall Street Zen cut Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Bank of America dropped their price target on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and an average target price of $161.09.

Wheaton Precious Metals 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.