Wheaton Precious Metals Corp. (NYSE:WPM) is Horizon Kinetics Asset Management LLC’s 5th Largest Position

Horizon Kinetics Asset Management LLC lessened its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,754,175 shares of the company’s stock after selling 7,333 shares during the period. Wheaton Precious Metals comprises approximately 2.5% of Horizon Kinetics Asset Management LLC’s investment portfolio, making the stock its 5th largest holding. Horizon Kinetics Asset Management LLC’s holdings in Wheaton Precious Metals were worth $168,225,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Ridgewood Investments LLC acquired a new position in Wheaton Precious Metals in the 2nd quarter worth about $31,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Wheaton Precious Metals in the second quarter valued at approximately $31,000. Sunbelt Securities Inc. acquired a new position in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $47,000. St. Johns Investment Management Company LLC purchased a new position in shares of Wheaton Precious Metals during the 3rd quarter valued at approximately $48,000. Finally, Western Pacific Wealth Management LP grew its stake in Wheaton Precious Metals by 19.6% in the 1st quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock valued at $63,000 after acquiring an additional 218 shares during the period. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

Shares of NYSE:WPM opened at $62.88 on Monday. The firm has a market capitalization of $28.53 billion, a PE ratio of 47.62, a price-to-earnings-growth ratio of 2.33 and a beta of 0.77. Wheaton Precious Metals Corp. has a 1 year low of $38.57 and a 1 year high of $68.64. The firm’s 50-day moving average is $63.01 and its two-hundred day moving average is $59.20.

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

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 21st will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Thursday, November 21st. Wheaton Precious Metals’s payout ratio is currently 46.27%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Scotiabank upped their price objective 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. 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. Stifel Canada cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. TD Securities increased their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, National Bank Financial raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $71.67.

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.