7,002 Shares in Wheaton Precious Metals Corp. $WPM Bought by OneAscent Financial Services LLC

Key Points

• OneAscent Financial Services acquired 7,002 shares of Wheaton Precious Metals in the second quarter, worth approximately $786,000. Institutional investors and hedge funds collectively own 70.34% of the company.
• Analysts remain broadly positive, with 12 Buy ratings and one Hold rating, though several firms recently lowered their price targets. MarketBeat’s consensus rating is “Moderate Buy,” with an average target of $165.55.
• Wheaton reported quarterly EPS of $1.19, exceeding estimates, while revenue rose 84.7% year over year to $878 million. The company also declared a quarterly dividend of $0.195 per share, equivalent to a 0.5% annualized yield.

OneAscent Financial Services LLC acquired a new stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 7,002 shares of the company's stock, valued at approximately $786,000.

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

Analyst Upgrades and Downgrades

WPM has been the subject of several research reports. UBS Group decreased their price target on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. Bank of America reduced their target price on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Jefferies Financial Group decreased their target price on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a "buy" rating for the company in a research report on Monday, July 6th. Weiss Ratings lowered shares of Wheaton Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, July 16th. Finally, Wall Street Zen cut shares of Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Twelve 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $165.55.

Wheaton Precious Metals Trading Up 1.8%

NYSE WPM opened at $150.08 on Friday. Wheaton Precious Metals Corp. has a 12 month low of $92.57 and a 12 month high of $165.76. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.20. The stock has a 50 day moving average of $118.35 and a 200-day moving average of $130.29. The company has a market cap of $68.16 billion, a PE ratio of 33.28, a PEG ratio of 2.61 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.15 by $0.04. The business had revenue of $878.00 million for the quarter, compared to the consensus estimate of $879.29 million. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The firm's revenue for the quarter was up 84.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 earnings per share. On average, equities research analysts anticipate that Wheaton Precious Metals Corp. will post 4.79 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders 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 dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, August 20th. Wheaton Precious Metals's dividend payout ratio is presently 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.

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