Manatuck Hill Partners LLC Takes $899,000 Position in Wheaton Precious Metals Corp. $WPM

Manatuck Hill Partners LLC bought a new position in Wheaton Precious Metals Corp. (NYSE:WPM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,000 shares of the company’s stock, valued at approximately $899,000.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $864,977,000. BlackRock Inc. purchased a new stake in Wheaton Precious Metals in the second quarter worth $581,250,000. Legal & General Group Plc bought a new stake in Wheaton Precious Metals in the second quarter valued at $320,838,000. The Manufacturers Life Insurance Company bought a new stake in Wheaton Precious Metals in the second quarter valued at $310,738,000. Finally, Deutsche Bank AG purchased a new position in Wheaton Precious Metals during the 2nd quarter valued at $310,372,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Berenberg Bank set a $157.00 price objective on shares of Wheaton Precious Metals in a report on Tuesday, July 28th. 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. Royal Bank Of Canada reduced 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 report on Thursday, July 9th. UBS Group decreased their price target on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Finally, Scotiabank lowered 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 report on Tuesday, July 14th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Wheaton Precious Metals 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 $163.66 on Wednesday. The stock has a market cap of $74.33 billion, a price-to-earnings ratio of 36.29, a PEG ratio of 2.83 and a beta of 0.55. The business’s fifty day moving average is $120.62 and its 200 day moving average is $130.80. Wheaton Precious Metals Corp. has a twelve month low of $92.57 and a twelve month high of $165.76. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.20.

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 business had revenue of $878.00 million during the quarter, compared to analyst estimates of $879.29 million. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%.The company’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 earnings per share. Research analysts expect that Wheaton Precious Metals Corp. will post 4.79 EPS 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. Investors 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 0.5%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 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.