Regal Partners Ltd purchased a new stake in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 15,053 shares of the company’s stock, valued at approximately $1,972,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in WPM. Assetmark Inc. increased its position in Wheaton Precious Metals by 144.4% during the 4th 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. Cornerstone Planning Group LLC lifted its stake in Wheaton Precious Metals by 245.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock valued at $29,000 after purchasing an additional 162 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its position in Wheaton Precious Metals by 100.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after buying an additional 117 shares in the last quarter. Hollencrest Capital Management boosted its position in Wheaton Precious Metals by 73.5% in the first quarter. Hollencrest Capital Management now owns 236 shares of the company’s stock valued at $31,000 after buying an additional 100 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC bought a new stake in shares of Wheaton Precious Metals during the fourth quarter worth $28,000. 70.34% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on WPM. Scotiabank lowered their price target on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Berenberg Bank set a $157.00 price objective on Wheaton Precious Metals in a report on Tuesday. BMO Capital Markets started coverage on Wheaton Precious Metals in a research report on Thursday, April 9th. They set an “outperform” rating and a $240.00 price objective on the stock. Weiss Ratings cut Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Finally, Jefferies Financial Group lowered their target price on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a report on Monday, July 6th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $165.55.
Wheaton Precious Metals Price Performance
WPM opened at $109.47 on Wednesday. Wheaton Precious Metals Corp. has a fifty-two week low of $90.39 and a fifty-two week high of $165.76. The company’s 50 day moving average price is $116.86 and its two-hundred day moving average price is $131.53. The firm has a market capitalization of $49.72 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 2.02 and a beta of 0.55.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.04. The firm had revenue of $901.47 million during the quarter, compared to the consensus estimate of $868.35 million. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The company’s revenue for the quarter was up 91.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 earnings per share. As a group, equities research analysts predict that Wheaton Precious Metals Corp. will post 4.73 EPS for the current year.
Wheaton Precious Metals Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were issued a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio is presently 19.70%.
About Wheaton Precious Metals
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.
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