Mufg Securities Canada LTD. reduced its position in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 642,347 shares of the company’s stock after selling 31,127 shares during the period. Wheaton Precious Metals comprises about 1.9% of Mufg Securities Canada LTD.’s portfolio, making the stock its 18th biggest holding. Mufg Securities Canada LTD.’s holdings in Wheaton Precious Metals were worth $72,142,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in WPM. AQR Capital Management LLC acquired a new position in shares of Wheaton Precious Metals in the first quarter worth about $331,000. Focus Partners Wealth grew its position in shares of Wheaton Precious Metals by 10.7% during the 1st quarter. Focus Partners Wealth now owns 11,223 shares of the company’s stock valued at $871,000 after acquiring an additional 1,081 shares during the period. Acadian Asset Management LLC acquired a new stake in Wheaton Precious Metals in the first quarter valued at approximately $209,000. Sivia Capital Partners LLC purchased a new stake in shares of Wheaton Precious Metals in the second quarter valued at approximately $239,000. Finally, Rhumbline Advisers increased its position in shares of Wheaton Precious Metals by 28.3% in the second quarter. Rhumbline Advisers now owns 2,952 shares of the company’s stock valued at $265,000 after buying an additional 652 shares in the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
WPM has been the topic of a number of recent analyst reports. Berenberg Bank set a $157.00 target price on Wheaton Precious Metals in a research report on Tuesday, July 28th. Royal Bank Of Canada reduced their price objective on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. UBS Group decreased their price objective 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 dropped their target price on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 14th. Finally, Wall Street Zen lowered shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $165.55.
Wheaton Precious Metals Stock Down 1.7%
Shares of NYSE:WPM opened at $150.70 on Tuesday. Wheaton Precious Metals Corp. has a 52-week low of $92.57 and a 52-week high of $165.76. The stock has a market cap of $68.44 billion, a P/E ratio of 33.41, a PEG ratio of 2.71 and a beta of 0.55. The business has a fifty day moving average of $123.12 and a two-hundred day moving average of $131.25. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.20.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The company had revenue of $878.00 million for the quarter, compared to the consensus estimate of $879.29 million. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. Wheaton Precious Metals’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 earnings per share. On average, research analysts expect that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current 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 given a $0.195 dividend. The ex-dividend date is Thursday, August 20th. This represents a $0.78 dividend on an annualized basis and a yield of 0.5%. Wheaton Precious Metals’s payout ratio is currently 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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