J.Safra Asset Management Corp acquired a new position in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,893 shares of the company’s stock, valued at approximately $437,000.
A number of other large investors also recently modified their holdings of the stock. Assetmark Inc. raised its position in Wheaton Precious Metals by 144.4% in the 4th quarter. Assetmark Inc. now owns 220 shares of the company’s stock valued at $26,000 after buying an additional 130 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its stake in Wheaton Precious Metals by 100.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after acquiring an additional 117 shares in the last quarter. Cary Street Partners Investment Advisory LLC purchased a new position in Wheaton Precious Metals during the 4th quarter worth $28,000. Cornerstone Planning Group LLC boosted its holdings in Wheaton Precious Metals by 245.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock worth $29,000 after acquiring an additional 162 shares during the last quarter. Finally, Navalign LLC bought a new stake in shares of Wheaton Precious Metals in the 4th quarter worth $30,000. Institutional investors own 70.34% of the company’s stock.
Analyst Ratings Changes
Several analysts have recently commented on the stock. Jefferies Financial Group lowered their target price on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a report on Monday, July 6th. UBS Group cut their price target on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Scotiabank reduced their price objective on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 14th. Berenberg Bank set a $157.00 price objective on shares of Wheaton Precious Metals in a research note on Tuesday, July 28th. Finally, Bank of America dropped their target price on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.55.
Wheaton Precious Metals Trading Up 0.0%
NYSE WPM opened at $134.25 on Monday. The business’s fifty day moving average is $115.96 and its 200-day moving average is $130.45. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a market capitalization of $60.97 billion, a price-to-earnings ratio of 29.77, a PEG ratio of 2.38 and a beta of 0.55. Wheaton Precious Metals Corp. has a one year low of $90.94 and a one year high of $165.76.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.04. The company had revenue of $878.00 million during the quarter, compared to analyst estimates of $879.29 million. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 earnings per share. Equities research analysts predict that Wheaton Precious Metals Corp. will post 4.79 EPS for the current year.
Wheaton Precious Metals Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be paid a dividend of $0.195 per share. The ex-dividend date is Thursday, August 20th. This represents a $0.78 annualized dividend and a dividend yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 17.29%.
Wheaton Precious Metals Profile
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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