Advisors Capital Management LLC Takes Position in Wheaton Precious Metals Corp. $WPM

Advisors Capital Management LLC purchased a new stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm purchased 6,711 shares of the company's stock, valued at approximately $754,000.

Several other hedge funds and other institutional investors have also bought and sold shares of WPM. AQR Capital Management LLC bought a new stake in shares of Wheaton Precious Metals in the 1st quarter valued at $331,000. Focus Partners Wealth raised its position 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 acquired a new stake in shares of Wheaton Precious Metals during the first quarter worth about $209,000. Sivia Capital Partners LLC bought a new position in shares of Wheaton Precious Metals during the 2nd quarter valued at about $239,000. Finally, Rhumbline Advisers grew its position in shares of Wheaton Precious Metals by 28.3% in 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. Institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Stock Performance

Shares of WPM stock opened at $157.80 on Friday. 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 $71.67 billion, a price-to-earnings ratio of 34.99, a PEG ratio of 2.65 and a beta of 0.55. The company has a 50-day simple moving average of $119.19 and a 200 day simple moving average of $130.48. 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 (NYSE:WPM - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.19 earnings per share (EPS) 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 firm had revenue of $878.00 million during the quarter, compared to the consensus estimate of $879.29 million. During the same period last year, the business posted $0.63 earnings per share. The business's revenue for the quarter was up 84.7% compared to the same quarter last year. On average, sell-side analysts predict that Wheaton Precious Metals Corp. will post 4.8 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The company 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 yield of 0.5%. Wheaton Precious Metals's payout ratio is 17.29%.

Analyst Ratings Changes

A number of analysts recently issued reports on WPM shares. Jefferies Financial Group lowered their target price on Wheaton Precious Metals from $182.00 to $177.00 and set a "buy" rating for the company in a research note on Monday, July 6th. Weiss Ratings cut shares of Wheaton Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 16th. Royal Bank Of Canada cut their price objective on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an "outperform" rating on the stock in a research report on Thursday, July 9th. 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 research note on Tuesday, June 30th. Finally, Bank of America reduced their price objective on Wheaton Precious Metals from $163.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Wheaton Precious Metals has an average rating of "Moderate Buy" and an average target price of $165.55.

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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