Gabelli Funds LLC Lowers Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Gabelli Funds LLC trimmed its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 13.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 966,950 shares of the company’s stock after selling 145,800 shares during the quarter. Gabelli Funds LLC owned 0.21% of Wheaton Precious Metals worth $50,688,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Marketfield Asset Management LLC raised its stake in shares of Wheaton Precious Metals by 61.0% during the 4th quarter. Marketfield Asset Management LLC now owns 88,025 shares of the company’s stock worth $4,343,000 after buying an additional 33,337 shares in the last quarter. Financial Sense Advisors Inc. boosted its position in shares of Wheaton Precious Metals by 54.0% during the 1st quarter. Financial Sense Advisors Inc. now owns 56,836 shares of the company’s stock worth $2,679,000 after purchasing an additional 19,924 shares in the last quarter. Mediolanum International Funds Ltd purchased a new stake in shares of Wheaton Precious Metals during the 1st quarter worth $1,752,000. Alberta Investment Management Corp increased its holdings in shares of Wheaton Precious Metals by 0.8% in the 4th quarter. Alberta Investment Management Corp now owns 957,947 shares of the company’s stock valued at $47,491,000 after purchasing an additional 7,610 shares in the last quarter. Finally, FIL Ltd boosted its holdings in Wheaton Precious Metals by 5.5% during the fourth quarter. FIL Ltd now owns 10,646,479 shares of the company’s stock worth $525,235,000 after buying an additional 550,804 shares in the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

Shares of NYSE WPM opened at $62.60 on Friday. The firm’s 50 day moving average price is $59.73 and its 200 day moving average price is $54.78. The firm has a market cap of $28.40 billion, a P/E ratio of 48.15, a price-to-earnings-growth ratio of 2.29 and a beta of 0.78. Wheaton Precious Metals Corp. has a 1 year low of $38.37 and a 1 year high of $64.27.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The business had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. During the same period in the prior year, the firm posted $0.31 EPS. The company’s revenue was up 12.9% on a year-over-year basis. As a group, equities analysts predict that Wheaton Precious Metals Corp. will post 1.4 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 annualized dividend and a dividend yield of 0.99%. Wheaton Precious Metals’s dividend payout ratio is presently 47.69%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. CIBC raised their price objective on Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Bank of America boosted their price objective 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. Berenberg Bank raised their target price on shares of Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Scotiabank lifted their target price on shares of Wheaton Precious Metals from $66.50 to $72.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Finally, TD Securities lowered their price target on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.50.

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.