Performance Wealth Partners LLC Invests $1.08 Million in Wheaton Precious Metals Corp. $WPM

Performance Wealth Partners LLC bought a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 9,660 shares of the company’s stock, valued at approximately $1,085,000.

Several other institutional investors have also recently bought and sold shares of WPM. Deutsche Bank AG acquired a new position in Wheaton Precious Metals during the 2nd quarter worth approximately $310,372,000. Perigon Wealth Management LLC acquired a new stake in shares of Wheaton Precious Metals in the second quarter valued at approximately $598,000. Trust Co. of Vermont bought a new stake in shares of Wheaton Precious Metals in the second quarter worth $139,000. Principle Wealth Partners LLC bought a new stake in shares of Wheaton Precious Metals in the second quarter worth $937,000. Finally, OneDigital Investment Advisors LLC acquired a new position in Wheaton Precious Metals during the second quarter worth $461,000. Institutional investors own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. UBS Group decreased their target price on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Bank of America decreased their price objective on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Berenberg Bank set a $157.00 target price on Wheaton Precious Metals in a research report on Tuesday, July 28th. Scotiabank reduced 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 report on Tuesday, July 14th. Finally, Jefferies Financial Group lowered their price target on 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. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and a consensus target price of $165.55.

Wheaton Precious Metals Stock Up 2.0%

Shares of WPM stock opened at $136.85 on Tuesday. Wheaton Precious Metals Corp. has a 52-week low of $90.94 and a 52-week high of $165.76. The stock has a market cap of $62.15 billion, a price-to-earnings ratio of 30.34, a PEG ratio of 2.38 and a beta of 0.55. The firm’s 50-day moving average is $116.40 and its 200-day moving average is $130.36. 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) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.19 earnings per share (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 for the quarter, compared to analyst estimates of $879.29 million. During the same quarter in the prior year, the company earned $0.63 earnings per share. The business’s revenue for the quarter was up 84.7% compared to the same quarter last year. Sell-side analysts predict that Wheaton Precious Metals Corp. will post 4.79 EPS 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. Investors of record on Thursday, August 20th will be issued a dividend of $0.195 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.6%. Wheaton Precious Metals’s payout ratio is presently 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.