Two Sigma Securities LLC bought a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 7,046 shares of the company’s stock, valued at approximately $791,000.
A number of other hedge funds also recently bought and sold shares of the company. Van ECK Associates Corp grew its position in shares of Wheaton Precious Metals by 10.7% in the fourth quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company’s stock valued at $1,700,517,000 after purchasing an additional 1,402,092 shares during the last quarter. Capital International Investors increased its stake in shares of Wheaton Precious Metals by 1.2% in the fourth quarter. Capital International Investors now owns 7,595,725 shares of the company’s stock worth $892,650,000 after purchasing an additional 93,599 shares during the period. Norges Bank acquired a new position in shares of Wheaton Precious Metals during the 4th quarter worth about $864,977,000. TD Asset Management Inc lifted its position in shares of Wheaton Precious Metals by 0.5% during the 4th quarter. TD Asset Management Inc now owns 7,285,275 shares of the company’s stock worth $857,598,000 after purchasing an additional 33,221 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in Wheaton Precious Metals by 9.4% during the 4th quarter. Bank of Montreal Can now owns 7,061,090 shares of the company’s stock valued at $830,134,000 after purchasing an additional 605,415 shares during the period. 70.34% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of analysts have issued reports on the company. Scotiabank lowered their target price on Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. Jefferies Financial Group cut their price target on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a report on Monday, July 6th. Royal Bank Of Canada reduced their price objective on 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. Wall Street Zen downgraded shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. 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 equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $165.55.
Wheaton Precious Metals Stock Down 4.0%
WPM stock opened at $144.80 on Wednesday. Wheaton Precious Metals Corp. has a twelve month low of $92.57 and a twelve month 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 company has a market cap of $65.76 billion, a PE ratio of 32.11, a price-to-earnings-growth ratio of 2.67 and a beta of 0.55. The business’s 50-day simple moving average is $123.69 and its 200 day simple moving average is $131.21.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.15 by $0.04. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%.The firm had revenue of $878.00 million during the quarter, compared to analysts’ expectations of $879.29 million. During the same quarter in the prior year, the firm posted $0.63 EPS. The company’s revenue for the quarter was up 84.7% on a year-over-year basis. On average, research analysts anticipate that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current year.
Wheaton Precious Metals Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be given a dividend of $0.195 per share. The ex-dividend date is Thursday, August 20th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.5%. Wheaton Precious Metals’s payout ratio 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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