Jupiter Topco LLC bought a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 163,919 shares of the company’s stock, valued at approximately $18,415,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Parvin Asset Management LLC boosted its holdings in shares of Wheaton Precious Metals by 0.6% in the fourth quarter. Parvin Asset Management LLC now owns 11,925 shares of the company’s stock valued at $1,401,000 after acquiring an additional 75 shares in the last quarter. Johnson Investment Counsel Inc. lifted its position in Wheaton Precious Metals by 0.4% in the fourth quarter. Johnson Investment Counsel Inc. now owns 20,465 shares of the company’s stock worth $2,405,000 after purchasing an additional 75 shares during the period. Concurrent Investment Advisors LLC lifted its position in Wheaton Precious Metals by 1.9% in the fourth quarter. Concurrent Investment Advisors LLC now owns 4,203 shares of the company’s stock worth $494,000 after purchasing an additional 78 shares during the period. Gables Capital Management Inc. boosted its stake in Wheaton Precious Metals by 7.9% during the 4th quarter. Gables Capital Management Inc. now owns 1,079 shares of the company’s stock valued at $127,000 after purchasing an additional 79 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Wheaton Precious Metals by 0.3% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 27,105 shares of the company’s stock valued at $3,185,000 after purchasing an additional 86 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors.
Wheaton Precious Metals Price Performance
NYSE WPM opened at $153.48 on Friday. The stock has a market capitalization of $69.70 billion, a P/E ratio of 34.03, a P/E/G ratio of 2.71 and a beta of 0.55. Wheaton Precious Metals Corp. has a 1 year low of $92.57 and a 1 year high of $165.76. The business’s fifty day moving average is $122.54 and its two-hundred day moving average is $131.28. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.47 and a current ratio of 0.47.
Wheaton Precious Metals Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be issued a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, August 20th. Wheaton Precious Metals’s dividend payout ratio is currently 17.29%.
Analysts Set New Price Targets
A number of research firms have recently commented on WPM. Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Scotiabank decreased their target price on Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. UBS Group lowered their target price on Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Jefferies Financial Group dropped their price target on shares of 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. Finally, Bank of America cut their price target on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.55.
Get Our Latest Stock Report on WPM
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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