Performance Wealth Partners LLC Purchases New Position in Wheaton Precious Metals Corp. $WPM

Performance Wealth Partners LLC purchased a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 9,660 shares of the company’s stock, valued at approximately $1,085,000.

Other hedge funds have also recently bought and sold shares of the company. Stack Financial Management Inc bought a new stake in shares of Wheaton Precious Metals during the 2nd quarter valued at $30,118,000. Euro Pacific Asset Management LLC increased its position in shares of Wheaton Precious Metals by 3.0% in the first quarter. Euro Pacific Asset Management LLC now owns 294,402 shares of the company’s stock worth $37,895,000 after purchasing an additional 8,455 shares during the period. Abacus Wealth Partners LLC increased its position in shares of Wheaton Precious Metals by 1,402.0% in the fourth quarter. Abacus Wealth Partners LLC now owns 32,023 shares of the company’s stock worth $3,763,000 after purchasing an additional 29,891 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its stake in 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 valued at $8,631,000 after purchasing an additional 61,700 shares in the last quarter. Finally, Pecaut & CO. acquired a new position in Wheaton Precious Metals in the second quarter valued at about $1,297,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Performance

Wheaton Precious Metals stock opened at $136.85 on Tuesday. 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 stock 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. Wheaton Precious Metals Corp. has a 12-month low of $90.94 and a 12-month high of $165.76. The business’s 50-day moving average price is $116.40 and its two-hundred day moving average price is $130.36.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, August 6th. The company reported $1.19 EPS for the quarter, topping 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 firm had revenue of $878.00 million during the quarter, compared to analysts’ expectations of $879.29 million. During the same quarter in the prior year, the business earned $0.63 earnings per share. The business’s revenue for the quarter was up 84.7% compared to the same quarter last year. As a group, analysts expect that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business 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. This represents a $0.78 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Thursday, August 20th. Wheaton Precious Metals’s dividend payout ratio is presently 17.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on WPM shares. Scotiabank reduced their price objective 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 target price on shares of Wheaton Precious Metals in a research report on Tuesday, July 28th. Royal Bank Of Canada cut their price target on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Jefferies Financial Group reduced their price target 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. Finally, Weiss Ratings cut shares of Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and a consensus target price of $165.55.

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.