Proficio Capital Partners LLC Takes Position in Wheaton Precious Metals Corp. $WPM

Proficio Capital Partners LLC purchased a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 8,613 shares of the company’s stock, valued at approximately $967,000.

Several other hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Wheaton Precious Metals during the fourth quarter valued at about $864,977,000. BlackRock Inc. acquired a new stake in Wheaton Precious Metals during the 2nd quarter worth about $581,250,000. Canada Pension Plan Investment Board purchased a new stake in Wheaton Precious Metals in the second quarter valued at approximately $351,708,000. Bank of America Corp DE acquired a new stake in shares of Wheaton Precious Metals in the second quarter worth $328,309,000. Finally, Legal & General Group Plc acquired a new stake in Wheaton Precious Metals during the 2nd quarter worth about $320,838,000. Institutional investors own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

WPM has been the topic of several research analyst reports. Scotiabank dropped their price objective 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. Royal Bank Of Canada dropped their target price on Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. UBS Group reduced 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 research report on Tuesday, June 30th. Wall Street Zen lowered 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 lowered their target price 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. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $165.55.

Wheaton Precious Metals Trading Down 4.9%

NYSE:WPM opened at $155.75 on Thursday. The stock has a fifty day moving average price of $121.21 and a two-hundred day moving average price of $130.97. The stock has a market capitalization of $70.74 billion, a price-to-earnings ratio of 34.53, a PEG ratio of 2.89 and a beta of 0.55. 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 Corp. has a 1 year low of $92.57 and a 1 year high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.04. The firm had revenue of $878.00 million during the quarter, compared to the consensus estimate of $879.29 million. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same period last year, the firm posted $0.63 EPS. As a group, sell-side 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 announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be given a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, August 20th. Wheaton Precious Metals’s dividend payout ratio is 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.