Bard Associates Inc. Purchases New Holdings in Wheaton Precious Metals Corp. $WPM

Key Points

• Bard Associates acquired 41,037 shares of Wheaton Precious Metals in the second quarter, valued at approximately $4.6 million. Institutional investors collectively own 70.34% of the company.
• Analysts remain broadly positive, with 12 Buy ratings and one Hold rating. The stock carries a consensus “Moderate Buy” rating and an average price target of $165.55.
• Wheaton reported quarterly EPS of $1.19, beating estimates, while revenue rose 84.7% year over year to $878 million. The company also declared a quarterly dividend of $0.195 per share, representing a 0.5% annualized yield.

Bard Associates Inc. acquired a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 41,037 shares of the company's stock, valued at approximately $4,609,000.

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

Analyst Ratings Changes

WPM has been the topic of several research reports. Berenberg Bank set a $157.00 target price on shares of Wheaton Precious Metals in a report on Tuesday, July 28th. Weiss Ratings cut Wheaton Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 16th. Jefferies Financial Group dropped their price target on Wheaton Precious Metals from $182.00 to $177.00 and set a "buy" rating on the stock in a research note on Monday, July 6th. Wall Street Zen cut Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, Royal Bank Of Canada lowered their target price on Wheaton Precious Metals from $165.00 to $160.00 and set an "outperform" rating on the stock in a report on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $165.55.

Wheaton Precious Metals Trading Up 5.0%

Shares of WPM opened at $157.80 on Friday. The stock has a market capitalization of $71.67 billion, a PE ratio of 34.99, a P/E/G ratio of 2.65 and a beta of 0.55. The company's fifty day moving average is $119.19 and its 200 day moving average is $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 Corp. has a fifty-two week low of $92.57 and a fifty-two week high of $165.76.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.15 by $0.04. The business had revenue of $878.00 million during the quarter, compared to analysts' expectations of $879.29 million. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The business's revenue was up 84.7% on a year-over-year basis. During the same period last year, the company posted $0.63 EPS. Sell-side analysts expect that Wheaton Precious Metals Corp. will post 4.8 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business 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. The ex-dividend date is Thursday, August 20th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.5%. Wheaton Precious Metals's payout ratio is 17.29%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source