Wheaton Precious Metals Corp. (NYSE:WPM) Stake Lessened by Bard Associates Inc.

Bard Associates Inc. trimmed its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,043 shares of the company’s stock after selling 707 shares during the quarter. Wheaton Precious Metals makes up 1.3% of Bard Associates Inc.’s portfolio, making the stock its 17th biggest position. Bard Associates Inc.’s holdings in Wheaton Precious Metals were worth $3,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Well Done LLC lifted its stake in Wheaton Precious Metals by 173.9% during the third quarter. Well Done LLC now owns 38,108 shares of the company’s stock worth $2,328,000 after purchasing an additional 24,196 shares during the last quarter. Forge First Asset Management Inc. bought a new position in shares of Wheaton Precious Metals in the 1st quarter worth about $4,817,000. Lighthouse Investment Partners LLC acquired a new position in shares of Wheaton Precious Metals in the 2nd quarter valued at about $1,016,000. Vanguard Group Inc. raised its stake in Wheaton Precious Metals by 1.7% during the first quarter. Vanguard Group Inc. now owns 16,770,475 shares of the company’s stock worth $790,392,000 after acquiring an additional 272,918 shares during the period. Finally, Natixis acquired a new stake in Wheaton Precious Metals during the first quarter worth about $529,000. 70.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Stifel Canada downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Scotiabank boosted their price objective on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Raymond James upped their price objective on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group upped their price target on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Wheaton Precious Metals has an average rating of “Moderate Buy” and a consensus price target of $70.88.

Wheaton Precious Metals Stock Performance

Shares of WPM opened at $59.33 on Friday. Wheaton Precious Metals Corp. has a one year low of $38.57 and a one year high of $68.64. The stock’s fifty day moving average is $62.75 and its 200-day moving average is $58.76. The firm has a market capitalization of $26.91 billion, a price-to-earnings ratio of 44.28, a price-to-earnings-growth ratio of 2.15 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, meeting the consensus estimate of $0.34. The firm had revenue of $308.25 million for the quarter, compared to analysts’ expectations of $324.57 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. During the same quarter last year, the company earned $0.27 EPS. Analysts forecast that Wheaton Precious Metals Corp. will post 1.44 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 21st will be given a $0.155 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a yield of 1.05%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 46.27%.

Wheaton Precious Metals Company Profile

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.