Altfest L J & Co. Inc. Reduces Stock Position in Wheaton Precious Metals Corp. $WPM

Altfest L J & Co. Inc. lessened its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 74.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,866 shares of the company’s stock after selling 11,474 shares during the period. Altfest L J & Co. Inc.’s holdings in Wheaton Precious Metals were worth $454,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nisa Investment Advisors LLC purchased a new stake in shares of Wheaton Precious Metals in the 3rd quarter valued at $26,000. Root Financial Partners LLC purchased a new stake in shares of Wheaton Precious Metals in the 3rd quarter valued at $29,000. Triumph Capital Management purchased a new stake in shares of Wheaton Precious Metals in the 3rd quarter valued at $33,000. Aventura Private Wealth LLC purchased a new stake in shares of Wheaton Precious Metals in the 4th quarter valued at $34,000. Finally, Pacifica Partners Inc. boosted its stake in shares of Wheaton Precious Metals by 27.8% in the 3rd quarter. Pacifica Partners Inc. now owns 460 shares of the company’s stock valued at $51,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock opened at $144.76 on Monday. The stock has a market capitalization of $65.73 billion, a PE ratio of 44.68, a price-to-earnings-growth ratio of 3.30 and a beta of 0.60. Wheaton Precious Metals Corp. has a 52-week low of $75.42 and a 52-week high of $165.76. The company has a 50-day simple moving average of $140.53 and a two-hundred day simple moving average of $123.27.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, March 12th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.31. Wheaton Precious Metals had a net margin of 63.58% and a return on equity of 17.17%. The business had revenue of $864.71 million during the quarter, compared to analysts’ expectations of $719.59 million. During the same period in the previous year, the company earned $0.44 earnings per share. The business’s revenue for the quarter was up 127.3% compared to the same quarter last year. As a group, equities research analysts forecast that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st were paid a $0.195 dividend. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.17. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Tuesday, March 31st. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 24.07%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WPM. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Monday, December 29th. TD Securities increased their price target on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, March 16th. UBS Group raised shares of Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 price target for the company in a research report on Friday, March 27th. Finally, Zacks Research cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and an average target price of $155.45.

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.