7,294 Shares in Wheaton Precious Metals Corp. $WPM Purchased by WNY Asset Management LLC

Key Points

• WNY Asset Management initiated a position in Wheaton Precious Metals during the second quarter, purchasing 7,294 shares valued at approximately $819,000. Institutional investors collectively own 70.34% of the company.
• Wheaton reported quarterly EPS of $1.19, beating estimates of $1.15, while revenue rose 84.7% year over year to $878 million. The company declared a quarterly dividend of $0.195, equivalent to a 0.5% annualized yield.
• WPM trades near its one-year high, with a consensus analyst rating of “Moderate Buy” and an average price target of $165.55, despite several analysts recently reducing their targets.

WNY Asset Management LLC purchased a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,294 shares of the company's stock, valued at approximately $819,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd boosted its stake in shares of Wheaton Precious Metals by 100.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company's stock worth $27,000 after acquiring an additional 117 shares during the period. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Wheaton Precious Metals during the 4th quarter worth approximately $28,000. Cornerstone Planning Group LLC raised its stake in Wheaton Precious Metals by 245.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 228 shares of the company's stock valued at $29,000 after acquiring an additional 162 shares during the period. Navalign LLC bought a new stake in Wheaton Precious Metals in the 4th quarter valued at $30,000. Finally, Hollencrest Capital Management lifted 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 valued at $31,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Stock Performance

WPM opened at $158.26 on Friday. The business has a fifty day simple moving average of $121.93 and a 200 day simple moving average of $131.13. The company has a market capitalization of $71.88 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 2.76 and a beta of 0.55. Wheaton Precious Metals Corp. has a 1 year low of $92.57 and a 1 year high of $165.76. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.47 and a quick ratio of 0.47.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) 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 return on equity of 21.97% and a net margin of 64.66%.The firm had revenue of $878.00 million for the quarter, compared to analysts' expectations of $879.29 million. During the same quarter last year, the business earned $0.63 EPS. The company's quarterly revenue was up 84.7% compared to the same quarter last year. Research analysts expect that Wheaton Precious Metals Corp. will post 4.79 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be paid a $0.195 dividend. The ex-dividend date is Thursday, August 20th. This represents a $0.78 annualized dividend and a dividend yield of 0.5%. Wheaton Precious Metals's dividend payout ratio is 17.29%.

Analysts Set New Price Targets

WPM has been the subject of a number of research analyst reports. Jefferies Financial Group reduced their price objective 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. Wall Street Zen lowered shares of Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Royal Bank Of Canada cut their target price on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. Bank of America cut 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 research note on Thursday, July 9th. Finally, UBS Group reduced their target price on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $165.55.

About Wheaton Precious Metals

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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