Quantitative Investment Management LLC Raises Holdings in Wheaton Precious Metals Corp. $WPM

Quantitative Investment Management LLC raised its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 204.6% during the second quarter, Holdings Channel.com reports. The firm owned 12,730 shares of the company’s stock after purchasing an additional 8,551 shares during the quarter. Quantitative Investment Management LLC’s holdings in Wheaton Precious Metals were worth $1,429,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WPM. Harvest Fund Management Co. Ltd grew its position in shares of Wheaton Precious Metals by 100.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock worth $27,000 after buying an additional 117 shares in the last quarter. Cary Street Partners Investment Advisory LLC acquired a new stake in Wheaton Precious Metals in the fourth quarter valued at approximately $28,000. Cornerstone Planning Group LLC lifted its stake in Wheaton Precious Metals by 245.5% in the first quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock worth $29,000 after acquiring an additional 162 shares during the last quarter. Navalign LLC purchased a new position in Wheaton Precious Metals in the fourth quarter worth approximately $30,000. Finally, Hollencrest Capital Management grew its holdings in Wheaton Precious Metals by 73.5% during the 1st quarter. Hollencrest Capital Management now owns 236 shares of the company’s stock worth $31,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Jefferies Financial Group dropped 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. Scotiabank decreased 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 research report on Tuesday, July 14th. Berenberg Bank set a $157.00 target price on shares of Wheaton Precious Metals in a research note on Tuesday, July 28th. Weiss Ratings lowered Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Finally, Royal Bank Of Canada cut their price target on Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.55.

Wheaton Precious Metals Stock Down 1.7%

Wheaton Precious Metals stock opened at $150.70 on Tuesday. Wheaton Precious Metals Corp. has a fifty-two week low of $92.57 and a fifty-two week high of $165.76. 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 company has a market capitalization of $68.44 billion, a P/E ratio of 33.41, a PEG ratio of 2.71 and a beta of 0.55. The stock has a 50-day simple moving average of $123.12 and a 200-day simple moving average of $131.25.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The firm had revenue of $878.00 million for the quarter, compared to the consensus estimate of $879.29 million. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%.The firm’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 EPS. Equities research analysts expect that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be given a dividend of $0.195 per share. The ex-dividend date 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 17.29%.

Wheaton Precious Metals 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.