Oppenheimer Asset Management Inc. Takes Position in Wheaton Precious Metals Corp. $WPM

Oppenheimer Asset Management Inc. purchased a new position in Wheaton Precious Metals Corp. (NYSE:WPM) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,440 shares of the company’s stock, valued at approximately $723,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Assetmark Inc. raised its stake in Wheaton Precious Metals by 144.4% in the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock worth $26,000 after buying an additional 130 shares in the last quarter. Harvest Fund Management Co. Ltd increased its holdings in shares of Wheaton Precious Metals by 100.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after acquiring an additional 117 shares during the period. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Wheaton Precious Metals in the 4th quarter valued at $28,000. Cornerstone Planning Group LLC raised its position in shares of Wheaton Precious Metals by 245.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock worth $29,000 after acquiring an additional 162 shares in the last quarter. Finally, Navalign LLC bought a new position in shares of Wheaton Precious Metals in the 4th quarter worth $30,000. 70.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on WPM. Bank of America dropped their price objective on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Jefferies Financial Group cut their price objective on shares of 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. 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. Scotiabank decreased 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 research report on Tuesday, July 14th. Finally, Royal Bank Of Canada lowered their target price 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. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $165.55.

Wheaton Precious Metals Price Performance

Shares of NYSE WPM opened at $136.85 on Tuesday. Wheaton Precious Metals Corp. has a fifty-two week low of $90.94 and a fifty-two week high of $165.76. The company has a market cap of $62.15 billion, a PE ratio of 30.34, a P/E/G ratio of 2.38 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. The business has a 50-day simple moving average of $116.40 and a two-hundred day simple moving average of $130.36.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.19 EPS 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 analyst estimates of $879.29 million. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. Wheaton Precious Metals’s revenue 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, equities analysts expect that Wheaton Precious Metals Corp. will post 4.79 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be issued a $0.195 dividend. 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 dividend payout ratio (DPR) is currently 17.29%.

Wheaton Precious Metals Company 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.