J. Goldman & Co LP Acquires Shares of 5,500 Wheaton Precious Metals Corp. $WPM

J. Goldman & Co LP bought a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) in the 2nd quarter, Holdings Channel.com reports. The fund bought 5,500 shares of the company’s stock, valued at approximately $618,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Wheaton Precious Metals in the fourth quarter valued at about $864,977,000. BlackRock Inc. acquired a new stake in Wheaton Precious Metals in the second quarter worth about $581,250,000. Canada Pension Plan Investment Board bought a new stake in Wheaton Precious Metals during the 2nd quarter worth about $351,708,000. Legal & General Group Plc bought a new stake in Wheaton Precious Metals during the 2nd quarter worth about $320,838,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Wheaton Precious Metals during the 2nd quarter valued at about $310,738,000. Institutional investors own 70.34% of the company’s stock.

Analysts Set New Price Targets

WPM has been the topic of several recent research reports. Scotiabank reduced their target price on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Berenberg Bank set a $157.00 price target on shares of Wheaton Precious Metals in a research note on Tuesday, July 28th. Royal Bank Of Canada cut their price objective on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Jefferies Financial Group reduced 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 note on Monday, July 6th. Finally, Wall Street Zen lowered shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.55.

Wheaton Precious Metals Trading Down 4.9%

NYSE:WPM opened at $155.75 on Thursday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.20. Wheaton Precious Metals Corp. has a 1-year low of $92.57 and a 1-year high of $165.76. The firm 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 business’s 50-day moving average price is $121.21 and its two-hundred day moving average price is $130.97.

Wheaton Precious Metals (NYSE:WPM) last posted its 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 company 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 EPS. On average, equities analysts expect that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be paid a dividend of $0.195 per share. 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 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.