Van ECK Associates Corp Grows Stake in Wheaton Precious Metals Corp. $WPM

Van ECK Associates Corp increased its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 0.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,411,000 shares of the company’s stock after acquiring an additional 78,618 shares during the period. Wheaton Precious Metals comprises about 1.0% of Van ECK Associates Corp’s investment portfolio, making the stock its 17th biggest holding. Van ECK Associates Corp’s holdings in Wheaton Precious Metals were worth $1,619,480,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Parvin Asset Management LLC boosted its position in Wheaton Precious Metals by 0.6% in the fourth quarter. Parvin Asset Management LLC now owns 11,925 shares of the company’s stock worth $1,401,000 after purchasing an additional 75 shares during the last quarter. Johnson Investment Counsel Inc. grew its stake in shares of Wheaton Precious Metals by 0.4% during the 4th quarter. Johnson Investment Counsel Inc. now owns 20,465 shares of the company’s stock valued at $2,405,000 after purchasing an additional 75 shares during the period. Concurrent Investment Advisors LLC increased its position in shares of Wheaton Precious Metals by 1.9% during the 4th quarter. Concurrent Investment Advisors LLC now owns 4,203 shares of the company’s stock valued at $494,000 after purchasing an additional 78 shares during the last quarter. Gables Capital Management Inc. increased its position in shares of Wheaton Precious Metals by 7.9% during the 4th quarter. Gables Capital Management Inc. now owns 1,079 shares of the company’s stock valued at $127,000 after purchasing an additional 79 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of Wheaton Precious Metals by 0.3% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 27,105 shares of the company’s stock worth $3,185,000 after purchasing an additional 86 shares during the period. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Analyst Ratings Changes

WPM has been the subject of several recent research reports. Berenberg Bank set a $157.00 target price on shares of Wheaton Precious Metals in a research report on Tuesday, July 28th. 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 on the stock in a research note on Thursday, July 9th. 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 report on Saturday, May 16th. Finally, Jefferies Financial Group decreased their target price on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating on the stock in a 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 company. Based on data from MarketBeat, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.55.

Wheaton Precious Metals Price Performance

Shares of WPM stock opened at $153.48 on Friday. Wheaton Precious Metals Corp. has a 1-year low of $92.57 and a 1-year high of $165.76. The stock’s 50-day moving average is $122.54 and its 200 day moving average is $131.28. The company has a market cap of $69.70 billion, a P/E ratio of 34.03, a PEG ratio of 2.79 and a beta of 0.55. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.47 and a quick ratio of 0.47.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The business had revenue of $878.00 million for the quarter, compared to analysts’ expectations of $879.29 million. During the same period last year, the business earned $0.63 EPS. The company’s revenue was up 84.7% compared to the same quarter last year. Research analysts predict that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently announced 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 dividend yield of 0.5%. The ex-dividend date is Thursday, August 20th. Wheaton Precious Metals’s payout ratio 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.