Cidel Asset Management Inc. Acquires 135,818 Shares of Wheaton Precious Metals Corp. $WPM

Cidel Asset Management Inc. boosted its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 7,896.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 137,538 shares of the company’s stock after acquiring an additional 135,818 shares during the quarter. Cidel Asset Management Inc.’s holdings in Wheaton Precious Metals were worth $15,466,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in Wheaton Precious Metals during the fourth quarter worth about $864,977,000. BlackRock Inc. acquired a new stake in shares of Wheaton Precious Metals in the 2nd quarter valued at approximately $581,250,000. Canada Pension Plan Investment Board bought a new stake in shares of Wheaton Precious Metals during the 2nd quarter valued at approximately $351,708,000. Bank of America Corp DE acquired a new position in Wheaton Precious Metals during the 2nd quarter worth approximately $328,309,000. Finally, Legal & General Group Plc bought a new position in Wheaton Precious Metals in the 2nd quarter valued at approximately $320,838,000. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Up 0.0%

Shares of NYSE WPM opened at $154.99 on Wednesday. The company’s 50 day moving average price is $127.92 and its 200-day moving average price is $131.60. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.47 and a current ratio of 0.47. Wheaton Precious Metals Corp. has a 52-week low of $92.57 and a 52-week high of $165.76. The company has a market capitalization of $70.39 billion, a P/E ratio of 34.37, a price-to-earnings-growth ratio of 2.74 and a beta of 0.60.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, topping 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 company had revenue of $878.00 million during the quarter, compared to analysts’ expectations of $879.29 million. During the same period in the prior year, the company posted $0.63 earnings per share. Wheaton Precious Metals’s revenue for the quarter was up 84.7% compared to the same quarter last year. Equities analysts forecast 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 declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were given a dividend of $0.195 per share. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.78 dividend on an annualized basis and a yield of 0.5%. Wheaton Precious Metals’s dividend payout ratio is 17.29%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WPM. Berenberg Bank set a $157.00 target price on shares of Wheaton Precious Metals in a research note on Tuesday, July 28th. UBS Group cut their price objective on Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. 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 on the stock in a report on Thursday, July 9th. Wall Street Zen cut shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings lowered Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $165.55.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. (NYSE:WPM) is a precious metals streaming company headquartered in Vancouver, British Columbia. Rather than operating mines directly, the company provides upfront financing to mining companies in exchange for the right to purchase a portion of the future production from specific mining projects at predetermined prices.

Wheaton’s streaming portfolio is primarily focused on gold and silver, with additional exposure to palladium and cobalt through certain agreements.