Mad River Investors Sells 2,200 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Mad River Investors reduced its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 1.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 152,743 shares of the company’s stock after selling 2,200 shares during the quarter. Wheaton Precious Metals makes up about 5.0% of Mad River Investors’ portfolio, making the stock its 3rd largest position. Mad River Investors’ holdings in Wheaton Precious Metals were worth $7,199,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. CVA Family Office LLC acquired a new position in Wheaton Precious Metals in the fourth quarter valued at approximately $26,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Wheaton Precious Metals in the 4th quarter valued at $31,000. Principal Securities Inc. bought a new position in shares of Wheaton Precious Metals in the 4th quarter worth $39,000. Fifth Third Bancorp increased its holdings in Wheaton Precious Metals by 230.7% in the fourth quarter. Fifth Third Bancorp now owns 863 shares of the company’s stock valued at $43,000 after purchasing an additional 602 shares during the last quarter. Finally, St. Johns Investment Management Company LLC acquired a new position in Wheaton Precious Metals in the first quarter valued at about $52,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WPM shares. Berenberg Bank upped their price target on Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Bank of America lifted their price target on shares of Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Jefferies Financial Group upped their price objective on shares of Wheaton Precious Metals from $52.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. BMO Capital Markets lifted their target price on Wheaton Precious Metals from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Finally, CIBC increased their price target on Wheaton Precious Metals from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and an average target price of $61.50.

Wheaton Precious Metals Stock Performance

Wheaton Precious Metals stock traded up $1.91 during midday trading on Thursday, reaching $54.52. The stock had a trading volume of 723,646 shares, compared to its average volume of 1,302,927. The stock has a market capitalization of $24.73 billion, a P/E ratio of 41.97, a price-to-earnings-growth ratio of 1.83 and a beta of 0.76. The firm’s fifty day simple moving average is $54.28 and its 200-day simple moving average is $49.49. Wheaton Precious Metals Corp. has a 1-year low of $38.37 and a 1-year high of $57.87.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The company had revenue of $296.80 million for the quarter, compared to the consensus estimate of $278.95 million. Wheaton Precious Metals had a net margin of 53.74% and a return on equity of 8.53%. The firm’s revenue was up 38.7% compared to the same quarter last year. During the same period last year, the company earned $0.23 earnings per share. On average, sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 1.29 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Wednesday, May 29th were given a dividend of $0.155 per share. The ex-dividend date was Wednesday, May 29th. This represents a $0.62 annualized dividend and a yield of 1.14%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 47.69%.

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.