1832 Asset Management L.P. Boosts Holdings in Wheaton Precious Metals Corp. $WPM

1832 Asset Management L.P. lifted its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 769.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 233,461 shares of the company’s stock after purchasing an additional 206,612 shares during the period. 1832 Asset Management L.P. owned approximately 0.05% of Wheaton Precious Metals worth $20,965,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in WPM. Bulwark Capital Corp acquired a new position in shares of Wheaton Precious Metals in the second quarter worth $27,000. Delta Asset Management LLC TN purchased a new position in Wheaton Precious Metals in the second quarter valued at $27,000. Wealth Preservation Advisors LLC acquired a new position in Wheaton Precious Metals during the 1st quarter worth $38,000. City State Bank increased its holdings in Wheaton Precious Metals by 40.0% during the 2nd quarter. City State Bank now owns 560 shares of the company’s stock worth $50,000 after purchasing an additional 160 shares during the period. Finally, Summit Securities Group LLC purchased a new stake in Wheaton Precious Metals during the 1st quarter worth about $64,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on WPM shares. BMO Capital Markets reissued an “outperform” rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. Scotiabank reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Thursday, October 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Monday. Zacks Research upgraded shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Monday, November 24th. Finally, Bank of America boosted their target price on shares of Wheaton Precious Metals from $127.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $124.00.

Wheaton Precious Metals Price Performance

NYSE WPM opened at $108.84 on Friday. The company has a fifty day moving average of $103.90 and a two-hundred day moving average of $97.61. The company has a market capitalization of $49.42 billion, a PE ratio of 49.47, a P/E/G ratio of 1.61 and a beta of 0.54. Wheaton Precious Metals Corp. has a 1 year low of $55.47 and a 1 year high of $114.36.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, November 6th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. The business had revenue of $476.26 million for the quarter, compared to analysts’ expectations of $495.53 million. Wheaton Precious Metals had a return on equity of 13.32% and a net margin of 54.72%.The business’s revenue was up 54.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 earnings per share. On average, research analysts expect that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 20th were paid a dividend of $0.165 per share. The ex-dividend date was Thursday, November 20th. This represents a $0.66 annualized dividend and a dividend yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio is 30.00%.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.