Wheaton Precious Metals Corp. $WPM Shares Sold by Pinnbrook Capital Management LP

Pinnbrook Capital Management LP cut its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 49.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,789 shares of the company’s stock after selling 16,547 shares during the period. Pinnbrook Capital Management LP’s holdings in Wheaton Precious Metals were worth $1,973,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in WPM. Assetmark Inc. increased its position in shares of Wheaton Precious Metals by 144.4% during the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock worth $26,000 after purchasing an additional 130 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of Wheaton Precious Metals during the third quarter worth $29,000. Navalign LLC acquired a new position in shares of Wheaton Precious Metals during the fourth quarter worth $30,000. Eagle Bay Advisors LLC acquired a new position in shares of Wheaton Precious Metals during the fourth quarter worth $32,000. Finally, Triumph Capital Management acquired a new position in shares of Wheaton Precious Metals during the third quarter worth $33,000. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Up 0.2%

WPM stock opened at $127.39 on Friday. The company’s 50-day simple moving average is $134.95 and its 200-day simple moving average is $129.50. Wheaton Precious Metals Corp. has a 52-week low of $84.05 and a 52-week high of $165.76. The firm has a market cap of $57.85 billion, a P/E ratio of 32.17, a PEG ratio of 2.46 and a beta of 0.50.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.04. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The business had revenue of $901.47 million for the quarter, compared to analyst estimates of $868.35 million. During the same period in the prior year, the company posted $0.55 EPS. The company’s revenue for the quarter was up 91.7% on a year-over-year basis. On average, analysts anticipate that Wheaton Precious Metals Corp. will post 4.87 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on WPM shares. TD Securities upped their price target on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. BMO Capital Markets initiated 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. Scotiabank upped their target price on Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Zacks Research downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Finally, Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Thirteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.64.

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.