Balyasny Asset Management L.P. Lowers Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Balyasny Asset Management L.P. decreased its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 70.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,144 shares of the company’s stock after selling 28,774 shares during the quarter. Balyasny Asset Management L.P.’s holdings in Wheaton Precious Metals were worth $683,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Van ECK Associates Corp raised its stake in Wheaton Precious Metals by 6.4% during the fourth quarter. Van ECK Associates Corp now owns 20,534,104 shares of the company’s stock valued at $1,154,843,000 after buying an additional 1,231,999 shares during the last quarter. Vanguard Group Inc. raised its stake in Wheaton Precious Metals by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 17,672,518 shares of the company’s stock valued at $994,733,000 after buying an additional 281,123 shares during the last quarter. FMR LLC raised its stake in Wheaton Precious Metals by 5.9% during the fourth quarter. FMR LLC now owns 15,529,219 shares of the company’s stock valued at $873,995,000 after buying an additional 863,306 shares during the last quarter. Norges Bank purchased a new position in Wheaton Precious Metals during the fourth quarter valued at $472,648,000. Finally, TD Asset Management Inc. raised its stake in Wheaton Precious Metals by 9.6% during the fourth quarter. TD Asset Management Inc. now owns 7,156,818 shares of the company’s stock valued at $402,627,000 after buying an additional 629,743 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

Wheaton Precious Metals stock opened at $78.74 on Friday. The stock has a market cap of $35.74 billion, a PE ratio of 58.76, a price-to-earnings-growth ratio of 1.91 and a beta of 0.49. Wheaton Precious Metals Corp. has a one year low of $51.96 and a one year high of $87.42. The stock has a fifty day moving average of $78.54 and a 200 day moving average of $68.05.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. The company had revenue of $470.41 million during the quarter, compared to analysts’ expectations of $446.33 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. Wheaton Precious Metals’s revenue for the quarter was up 58.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 earnings per share. As a group, sell-side analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.84%. The ex-dividend date is Wednesday, May 28th. Wheaton Precious Metals’s dividend payout ratio is presently 48.53%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WPM. Scotiabank boosted their price target on Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a “sector outperform” rating in a research note on Monday, April 14th. CIBC boosted their price target on Wheaton Precious Metals from $95.00 to $105.00 and gave the stock an “outperformer” rating in a research note on Friday, May 9th. Royal Bank of Canada boosted their price target on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Friday, April 4th. Raymond James boosted their price target on Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 15th. Finally, UBS Group boosted their price target on Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $85.90.

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.