NewEdge Wealth LLC Takes Position in Wheaton Precious Metals Corp. $WPM

NewEdge Wealth LLC bought a new position in Wheaton Precious Metals Corp. (NYSE:WPM) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 59,771 shares of the company’s stock, valued at approximately $6,713,000.

Several other large investors have also recently modified their holdings of WPM. Vanguard Group Inc. raised its holdings in Wheaton Precious Metals by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 19,079,029 shares of the company’s stock valued at $2,242,969,000 after buying an additional 289,939 shares during the period. Van ECK Associates Corp boosted its stake in Wheaton Precious Metals by 10.7% during the fourth quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company’s stock worth $1,700,517,000 after buying an additional 1,402,092 shares during the period. Capital International Investors boosted its stake in Wheaton Precious Metals by 1.2% during the fourth quarter. Capital International Investors now owns 7,595,725 shares of the company’s stock worth $892,650,000 after buying an additional 93,599 shares during the period. Norges Bank bought a new position in Wheaton Precious Metals during the fourth quarter valued at $864,977,000. Finally, TD Asset Management Inc increased its position in Wheaton Precious Metals by 0.5% during the fourth quarter. TD Asset Management Inc now owns 7,285,275 shares of the company’s stock valued at $857,598,000 after acquiring an additional 33,221 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WPM. Jefferies Financial Group reduced their target price on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Royal Bank Of Canada dropped their price target on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Wall Street Zen downgraded shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings lowered shares of Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Finally, Scotiabank decreased their price objective on shares of 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. 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 an average rating of “Moderate Buy” and a consensus target price of $165.55.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock opened at $147.56 on Thursday. 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 stock’s fifty day moving average is $117.60 and its two-hundred day moving average is $130.16. Wheaton Precious Metals Corp. has a 52 week low of $91.65 and a 52 week high of $165.76. The company has a market capitalization of $67.02 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, topping 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 business had revenue of $878.00 million during the quarter, compared to the consensus estimate of $879.29 million. During the same period last 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. As a group, analysts expect that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be paid a $0.195 dividend. This represents a $0.78 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, August 20th. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 17.29%.

About Wheaton Precious Metals

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.