Wheaton Precious Metals Corp. (NYSE:WPM) is Mad River Investors’ 4th Largest Position

Mad River Investors lessened its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 3.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 147,288 shares of the company’s stock after selling 4,583 shares during the period. Wheaton Precious Metals makes up 5.0% of Mad River Investors’ investment portfolio, making the stock its 4th largest holding. Mad River Investors’ holdings in Wheaton Precious Metals were worth $8,996,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ridgewood Investments LLC acquired a new stake in Wheaton Precious Metals in the second quarter valued at about $31,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Wheaton Precious Metals in the 2nd quarter valued at approximately $31,000. Sunbelt Securities Inc. purchased a new stake in shares of Wheaton Precious Metals in the second quarter valued at approximately $47,000. St. Johns Investment Management Company LLC acquired a new position in Wheaton Precious Metals during the first quarter worth $52,000. Finally, Western Pacific Wealth Management LP raised its position in Wheaton Precious Metals by 19.6% in the first quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock worth $63,000 after acquiring an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Trading Down 1.6 %

Shares of NYSE WPM traded down $1.10 during trading on Wednesday, reaching $67.43. The company had a trading volume of 518,960 shares, compared to its average volume of 1,758,311. Wheaton Precious Metals Corp. has a twelve month low of $38.57 and a twelve month high of $68.64. The stock has a 50-day moving average price of $61.49 and a two-hundred day moving average price of $57.37. The stock has a market capitalization of $30.59 billion, a PE ratio of 54.39, a price-to-earnings-growth ratio of 2.45 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The firm had revenue of $299.06 million during the quarter, compared to the consensus estimate of $309.54 million. During the same quarter in the previous year, the company posted $0.31 EPS. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, sell-side analysts predict that Wheaton Precious Metals Corp. will post 1.44 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were issued a $0.155 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 annualized dividend and a yield of 0.92%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 49.21%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on WPM shares. National Bank Financial upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Scotiabank boosted their price objective on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Berenberg Bank increased their target price on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, June 27th. TD Securities decreased their price target on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, Bank of America raised their price objective on Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $69.88.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.