TT International Asset Management LTD bought a new position in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 21,180 shares of the company’s stock, valued at approximately $2,832,000. Wheaton Precious Metals makes up about 0.3% of TT International Asset Management LTD’s holdings, making the stock its 16th biggest holding.
Other hedge funds have also recently modified their holdings of the company. McAlvany Wealth Management LLC increased its holdings in Wheaton Precious Metals by 2.4% in the 3rd quarter. McAlvany Wealth Management LLC now owns 31,685 shares of the company’s stock valued at $4,237,000 after acquiring an additional 752 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. purchased a new stake in Wheaton Precious Metals in the 3rd quarter worth $227,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Wheaton Precious Metals in the 3rd quarter worth $367,000. Vise Technologies Inc. boosted its holdings in shares of Wheaton Precious Metals by 10.7% during the 3rd quarter. Vise Technologies Inc. now owns 16,733 shares of the company’s stock valued at $2,238,000 after purchasing an additional 1,616 shares during the last quarter. Finally, Cidel Asset Management Inc. boosted its holdings in shares of Wheaton Precious Metals by 31.2% during the 3rd quarter. Cidel Asset Management Inc. now owns 180,415 shares of the company’s stock valued at $24,151,000 after purchasing an additional 42,877 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.
Wheaton Precious Metals Trading Down 1.5%
WPM stock opened at $117.41 on Wednesday. The firm has a fifty day moving average price of $140.13 and a 200 day moving average price of $133.79. Wheaton Precious Metals Corp. has a fifty-two week low of $94.28 and a fifty-two week high of $165.76. The firm has a market cap of $53.33 billion, a PE ratio of 26.03, a price-to-earnings-growth ratio of 2.33 and a beta of 0.56. 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 (NYSE:WPM – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.19 earnings per share (EPS) for the quarter, beating 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 revenue was up 84.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 earnings per share. Sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 4.57 earnings per share for the current fiscal year.
Wheaton Precious Metals Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were paid a $0.1950 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, August 20th. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 17.29%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on WPM. Bank of America cut their price objective on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Weiss Ratings downgraded Wheaton Precious Metals from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 23rd. UBS Group boosted their target price on Wheaton Precious Metals from $153.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, October 8th. Scotiabank dropped their price target 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. Finally, Berenberg Bank set a $157.00 price target on Wheaton Precious Metals in a report on Tuesday, July 28th. Ten investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $172.11.
About Wheaton Precious Metals
Wheaton Precious Metals Corp. is a precious metals streaming company headquartered in Vancouver, British Columbia. Rather than operating mines directly, the company provides upfront financing to mining companies in exchange for the right to purchase a portion of the gold, silver, palladium and cobalt produced by specific mining operations at predetermined prices.
Wheaton sells the streamed metals to customers and uses the proceeds to support its operations and investments. Its portfolio is linked to mining assets operated by third parties, with exposure to projects in the Americas and other regions.
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