Cidel Asset Management Inc. Purchases 135,818 Shares of Wheaton Precious Metals Corp. $WPM

Key Points

• Cidel Asset Management dramatically increased its Wheaton Precious Metals stake by purchasing 135,818 shares in the second quarter, bringing its holdings to 137,538 shares valued at approximately $15.5 million. Institutional investors own 70.34% of WPM.
• Wheaton reported strong quarterly results, with earnings of $1.19 per share versus the $1.15 consensus estimate and revenue up 84.7% year over year to $878 million. The company also maintains a high net margin of 64.66%.
• Analysts remain broadly positive, with 12 Buy ratings and one Hold rating, producing a “Moderate Buy” consensus and an average price target of $165.55. WPM recently traded at $154.99 and pays a quarterly dividend of $0.195, yielding 0.5%.

Cidel Asset Management Inc. increased its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 7,896.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 137,538 shares of the company's stock after buying an additional 135,818 shares during the period. Cidel Asset Management Inc.'s holdings in Wheaton Precious Metals were worth $15,466,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WPM. Stack Financial Management Inc bought a new position in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $30,118,000. Euro Pacific Asset Management LLC grew its holdings in Wheaton Precious Metals by 3.0% in the 1st quarter. Euro Pacific Asset Management LLC now owns 294,402 shares of the company's stock valued at $37,895,000 after buying an additional 8,455 shares in the last quarter. Pecaut & CO. bought a new position in Wheaton Precious Metals during the 2nd quarter worth $1,297,000. Abacus Wealth Partners LLC increased its position in Wheaton Precious Metals by 1,402.0% during the 4th quarter. Abacus Wealth Partners LLC now owns 32,023 shares of the company's stock worth $3,763,000 after buying an additional 29,891 shares during the period. Finally, Bank of Nova Scotia lifted its holdings in shares of Wheaton Precious Metals by 19.3% during the first quarter. Bank of Nova Scotia now owns 1,135,457 shares of the company's stock worth $149,006,000 after buying an additional 183,580 shares in the last quarter. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Trading Up 0.0%

Shares of Wheaton Precious Metals stock opened at $154.99 on Wednesday. The company has a market capitalization of $70.39 billion, a price-to-earnings ratio of 34.37, a PEG ratio of 2.74 and a beta of 0.60. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.20. Wheaton Precious Metals Corp. has a 12-month low of $92.57 and a 12-month high of $165.76. The firm's 50-day moving average price is $127.92 and its two-hundred day moving average price is $131.60.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $1.19 EPS for the quarter, beating 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 company had revenue of $878.00 million during the quarter, compared to analysts' expectations of $879.29 million. During the same period in the previous year, the company earned $0.63 EPS. The business's revenue for the quarter was up 84.7% compared to the same quarter last year. On average, analysts forecast that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were paid a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, August 20th. Wheaton Precious Metals's dividend payout ratio (DPR) is 17.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. 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 report on Tuesday, June 30th. Berenberg Bank set a $157.00 target price on shares of Wheaton Precious Metals in a research report on Tuesday, July 28th. Jefferies Financial Group lowered their target price on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a "buy" rating on the stock in a report on Monday, July 6th. Weiss Ratings downgraded shares of Wheaton Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada cut their price target on 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. Twelve 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 stock currently has an average rating of "Moderate Buy" and an average price target of $165.55.

Wheaton Precious Metals Profile

Wheaton Precious Metals Corp. NYSE: WPM is a precious metals streaming company headquartered in Vancouver, British Columbia. Rather than operating mines directly, the company provides upfront financing to mining companies in exchange for the right to purchase a portion of the future production from specific mining projects at predetermined prices.

Wheaton's streaming portfolio is primarily focused on gold and silver, with additional exposure to palladium and cobalt through certain agreements.

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