Wheaton Precious Metals Corp. $WPM Holdings Decreased by Hendley & Co. Inc.

Hendley & Co. Inc. decreased its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 9.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 106,351 shares of the company’s stock after selling 11,316 shares during the period. Wheaton Precious Metals accounts for approximately 4.4% of Hendley & Co. Inc.’s holdings, making the stock its 7th biggest holding. Hendley & Co. Inc.’s holdings in Wheaton Precious Metals were worth $12,498,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Nisa Investment Advisors LLC purchased a new stake in shares of Wheaton Precious Metals during the third quarter worth about $26,000. Assetmark Inc. increased its holdings in 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 period. Root Financial Partners LLC purchased a new position in Wheaton Precious Metals during the 3rd quarter worth approximately $29,000. Navalign LLC purchased a new position in Wheaton Precious Metals during the 4th quarter worth approximately $30,000. Finally, Eagle Bay Advisors LLC acquired a new stake in Wheaton Precious Metals during the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

WPM has been the topic of several recent research reports. Scotiabank upped their price objective on shares of Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. UBS Group raised shares of Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 price target on the stock in a report on Friday, March 27th. BMO Capital Markets assumed coverage on Wheaton Precious Metals in a research report on Thursday, April 9th. They set an “outperform” rating and a $240.00 price target on the stock. Finally, TD Cowen lifted their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Thirteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $155.64.

Wheaton Precious Metals Trading Down 6.4%

Shares of NYSE:WPM opened at $130.37 on Friday. Wheaton Precious Metals Corp. has a 12-month low of $76.77 and a 12-month high of $165.76. The company has a market capitalization of $59.20 billion, a PE ratio of 32.92, a PEG ratio of 2.52 and a beta of 0.50. The business has a 50 day moving average of $136.66 and a two-hundred day moving average of $128.39.

Wheaton Precious Metals (NYSE:WPM) last announced 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 company had revenue of $901.47 million during the quarter, compared to the consensus estimate of $868.35 million. During the same period in the previous year, the company posted $0.55 earnings per share. Wheaton Precious Metals’s revenue for the quarter was up 91.7% on a year-over-year basis. Equities research analysts predict that Wheaton Precious Metals Corp. will post 4.87 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th will be issued a $0.195 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $0.78 dividend on an annualized basis and a yield of 0.6%. Wheaton Precious Metals’s payout ratio is presently 19.70%.

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.