Oxbow Advisors LLC Raises Stock Holdings in Wheaton Precious Metals Corp. $WPM

Oxbow Advisors LLC boosted its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 91.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 107,996 shares of the company’s stock after buying an additional 51,486 shares during the quarter. Wheaton Precious Metals makes up about 1.2% of Oxbow Advisors LLC’s holdings, making the stock its 16th biggest holding. Oxbow Advisors LLC’s holdings in Wheaton Precious Metals were worth $14,149,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC bought a new position in shares of Wheaton Precious Metals during the first quarter valued at about $331,000. Focus Partners Wealth boosted its holdings in shares of Wheaton Precious Metals by 10.7% during the first quarter. Focus Partners Wealth now owns 11,223 shares of the company’s stock worth $871,000 after purchasing an additional 1,081 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Wheaton Precious Metals in the first quarter worth about $209,000. Sivia Capital Partners LLC bought a new stake in shares of Wheaton Precious Metals in the second quarter worth about $239,000. Finally, Rhumbline Advisers increased its holdings in Wheaton Precious Metals by 28.3% during the 2nd quarter. Rhumbline Advisers now owns 2,952 shares of the company’s stock valued at $265,000 after purchasing an additional 652 shares during the period. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Price Performance

WPM stock opened at $115.58 on Friday. Wheaton Precious Metals Corp. has a 1 year low of $85.59 and a 1 year high of $165.76. The company has a market cap of $52.49 billion, a P/E ratio of 29.19, a PEG ratio of 2.18 and a beta of 0.55. The firm has a 50-day moving average of $125.32 and a 200 day moving average of $132.67.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.04. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The business had revenue of $901.47 million for the quarter, compared to analysts’ expectations of $868.35 million. During the same period in the previous year, the firm posted $0.55 EPS. The business’s revenue was up 91.7% on a year-over-year basis. On average, equities research analysts expect that Wheaton Precious Metals Corp. will post 4.99 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were given a dividend of $0.195 per share. The ex-dividend date was Wednesday, May 27th. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. Wheaton Precious Metals’s payout ratio is currently 19.70%.

Analyst Ratings Changes

A number of research analysts have commented on WPM shares. BMO Capital Markets started coverage on Wheaton Precious Metals in a research report on Thursday, April 9th. They set an “outperform” rating and a $240.00 price target for the company. TD Cowen boosted their target price on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, March 16th. UBS Group decreased their target price on Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday. Wall Street Zen lowered Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Scotiabank lifted their price target on shares of Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.73.

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.