Parvin Asset Management LLC Invests $1.37 Million in Wheaton Precious Metals Corp. $WPM

Parvin Asset Management LLC purchased a new position in Wheaton Precious Metals Corp. (NYSE:WPM) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 12,175 shares of the company’s stock, valued at approximately $1,367,000. Wheaton Precious Metals accounts for about 1.1% of Parvin Asset Management LLC’s portfolio, making the stock its 23rd largest position.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Stack Financial Management Inc bought a new stake in Wheaton Precious Metals during the second quarter worth about $30,118,000. Euro Pacific Asset Management LLC lifted its holdings in shares of Wheaton Precious Metals by 3.0% during the 1st quarter. Euro Pacific Asset Management LLC now owns 294,402 shares of the company’s stock worth $37,895,000 after acquiring an additional 8,455 shares during the period. Abacus Wealth Partners LLC boosted its position in shares of Wheaton Precious Metals by 1,402.0% during the 4th quarter. Abacus Wealth Partners LLC now owns 32,023 shares of the company’s stock worth $3,763,000 after acquiring an additional 29,891 shares in the last quarter. Pecaut & CO. bought a new position in Wheaton Precious Metals in the second quarter valued at approximately $1,297,000. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in Wheaton Precious Metals by 489.7% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 74,300 shares of the company’s stock valued at $8,631,000 after purchasing an additional 61,700 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Berenberg Bank set a $157.00 price target on Wheaton Precious Metals in a research note on Tuesday, July 28th. Weiss Ratings lowered Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Wall Street Zen cut Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Scotiabank dropped their target price on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Finally, UBS Group decreased their price target on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $165.55.

Wheaton Precious Metals Trading Down 4.9%

Shares of Wheaton Precious Metals stock opened at $155.75 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a 50 day moving average price of $121.21 and a two-hundred day moving average price of $130.97. Wheaton Precious Metals Corp. has a 52 week low of $92.57 and a 52 week high of $165.76. The stock has a market capitalization of $70.74 billion, a PE ratio of 34.53, a price-to-earnings-growth ratio of 2.89 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.04. The business had revenue of $878.00 million during the quarter, compared to the consensus estimate of $879.29 million. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%.Wheaton Precious Metals’s revenue was up 84.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.63 earnings per share. As a group, equities analysts anticipate that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

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