Comprehensive Money Management Services LLC Buys New Position in Wheaton Precious Metals Corp. $WPM

Key Points

• Comprehensive Money Management Services LLC bought 8,126 shares of Wheaton Precious Metals in the second quarter, valued at approximately $913,000. Institutional investors collectively own 70.34% of the company.
• Wheaton reported quarterly EPS of $1.19, topping estimates of $1.15, while revenue rose 84.7% year over year to $878 million. The company posted a 64.66% net margin and 21.97% return on equity.
• The company declared a quarterly dividend of $0.195 per share, equal to $0.78 annually and a 0.5% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $165.55.

Comprehensive Money Management Services LLC purchased a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,126 shares of the company's stock, valued at approximately $913,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. United Capital Financial Advisors LLC bought a new stake in shares of Wheaton Precious Metals in the 2nd quarter worth $359,000. WNY Asset Management LLC purchased a new stake in shares of Wheaton Precious Metals in the second quarter valued at about $819,000. Caitlin John LLC bought a new position in shares of Wheaton Precious Metals during the second quarter valued at about $197,000. Equitable Holdings Inc. bought a new position in shares of Wheaton Precious Metals during the second quarter valued at about $446,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Wheaton Precious Metals during the second quarter worth about $24,298,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

NYSE WPM opened at $158.26 on Friday. 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. 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 52-week low of $92.57 and a 52-week high of $165.76. The company has a 50-day simple moving average of $121.93 and a 200 day simple moving average of $131.13.

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

Wheaton Precious Metals Announces Dividend

The company also recently disclosed 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 dividend payout ratio is presently 17.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on WPM shares. Scotiabank reduced their price objective on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a "sector outperform" rating for the company in a research report on Tuesday, July 14th. UBS Group dropped their target price on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Wall Street Zen downgraded Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Jefferies Financial Group reduced their target price on Wheaton Precious Metals from $182.00 to $177.00 and set a "buy" rating for the company in a report on Monday, July 6th. Finally, Bank of America decreased their price target 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 research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of "Moderate Buy" and an average target price of $165.55.

Wheaton Precious Metals Company 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.

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