Ninepoint Partners LP acquired a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 100,557 shares of the company’s stock, valued at approximately $11,295,000. Wheaton Precious Metals accounts for about 0.9% of Ninepoint Partners LP’s holdings, making the stock its 18th biggest position.
A number of other hedge funds have also recently modified their holdings of WPM. Assetmark Inc. lifted its position in Wheaton Precious Metals by 144.4% during the 4th quarter. Assetmark Inc. now owns 220 shares of the company’s stock valued at $26,000 after acquiring an additional 130 shares during the period. Harvest Fund Management Co. Ltd increased its stake in shares of Wheaton Precious Metals by 100.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after purchasing an additional 117 shares in the last quarter. Cary Street Partners Investment Advisory LLC bought a new position in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $28,000. Cornerstone Planning Group LLC lifted its holdings in shares of Wheaton Precious Metals by 245.5% during the first 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. Finally, Navalign LLC purchased a new position in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $30,000. Institutional investors own 70.34% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have recently commented on the company. Jefferies Financial Group dropped their price target on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. UBS Group lowered their price objective on Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Berenberg Bank set a $157.00 target price on Wheaton Precious Metals in a report on Tuesday, July 28th. Bank of America cut their target price on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Finally, Royal Bank Of Canada reduced their price target on Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and a consensus target price of $165.55.
Wheaton Precious Metals Trading Up 1.8%
NYSE:WPM opened at $150.08 on Friday. The company’s 50 day moving average price is $118.35 and its 200-day moving average price is $130.29. Wheaton Precious Metals Corp. has a 52 week low of $92.57 and a 52 week high of $165.76. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.20. The stock has a market cap of $68.16 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 2.61 and a beta of 0.55.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last announced 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. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The company had revenue of $878.00 million during the quarter, compared to the consensus estimate of $879.29 million. During the same quarter last year, the firm earned $0.63 earnings per share. The firm’s quarterly revenue was up 84.7% compared to the same quarter last year. On average, equities research analysts forecast that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current fiscal year.
Wheaton Precious Metals Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 0.5%. The ex-dividend date is Thursday, August 20th. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 17.29%.
Wheaton Precious Metals Company 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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