6,440 Shares in Wheaton Precious Metals Corp. $WPM Acquired by Oppenheimer Asset Management Inc.

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

Several other institutional investors and hedge funds have also modified their holdings of the stock. Euro Pacific Asset Management LLC boosted its holdings in Wheaton Precious Metals by 3.0% during the first quarter. Euro Pacific Asset Management LLC now owns 294,402 shares of the company’s stock worth $37,895,000 after buying an additional 8,455 shares in the last quarter. Abacus Wealth Partners LLC lifted its stake in Wheaton Precious Metals by 1,402.0% in the 4th quarter. Abacus Wealth Partners LLC now owns 32,023 shares of the company’s stock valued at $3,763,000 after buying an additional 29,891 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Wheaton Precious Metals by 489.7% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 74,300 shares of the company’s stock worth $8,631,000 after acquiring an additional 61,700 shares during the last quarter. Intact Investment Management Inc. boosted its stake in Wheaton Precious Metals by 627.2% during the 4th quarter. Intact Investment Management Inc. now owns 127,980 shares of the company’s stock worth $15,045,000 after purchasing an additional 110,380 shares during the last quarter. Finally, Bank of Nova Scotia boosted its position in Wheaton Precious Metals by 19.3% during the first quarter. Bank of Nova Scotia now owns 1,135,457 shares of the company’s stock worth $149,006,000 after acquiring an additional 183,580 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WPM. Bank of America decreased their target price on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Royal Bank Of Canada reduced their price objective on 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. Jefferies Financial Group dropped their target price on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a report on Monday, July 6th. Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Scotiabank reduced their price target 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. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $165.55.

Wheaton Precious Metals Trading Up 2.0%

WPM opened at $136.85 on Tuesday. Wheaton Precious Metals Corp. has a 52 week low of $90.94 and a 52 week 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. The business has a fifty day simple moving average of $116.40 and a 200-day simple moving average of $130.36. The firm has a market cap of $62.15 billion, a P/E ratio of 30.34, a P/E/G ratio of 2.38 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM) last posted 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. 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 during the quarter, compared to analyst estimates of $879.29 million. During the same quarter last year, the firm posted $0.63 earnings per share. The business’s revenue for the quarter was up 84.7% compared to the same quarter last year. 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 announced 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 annualized dividend and a yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 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.