Crescent Grove Advisors LLC Purchases 15,926 Shares of Wheaton Precious Metals Corp. $WPM

Key Points

• Crescent Grove Advisors increased its Wheaton Precious Metals stake by 356% in the first quarter, buying 15,926 additional shares and bringing its total holding to 20,399 shares worth about $2.68 million.
• Analysts remain mostly positive on WPM, with 12 Buy ratings and 1 Hold; the stock’s consensus target price is $161.09, even as some firms recently trimmed their price targets.
• Wheaton Precious Metals reported better-than-expected quarterly earnings of $1.28 per share and revenue of $901.47 million, and it also paid a quarterly dividend of $0.195 per share for an annualized yield of about 0.7%.

Crescent Grove Advisors LLC boosted its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 356.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 20,399 shares of the company's stock after purchasing an additional 15,926 shares during the quarter. Crescent Grove Advisors LLC's holdings in Wheaton Precious Metals were worth $2,676,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. raised its holdings in Wheaton Precious Metals by 144.4% in the fourth quarter. Assetmark Inc. now owns 220 shares of the company's stock worth $26,000 after buying an additional 130 shares during the last quarter. Cornerstone Planning Group LLC grew its holdings in shares of Wheaton Precious Metals by 245.5% during the first quarter. Cornerstone Planning Group LLC now owns 228 shares of the company's stock valued at $29,000 after buying an additional 162 shares during the last quarter. Harvest Fund Management Co. Ltd grew its holdings in shares of Wheaton Precious Metals by 100.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company's stock valued at $27,000 after buying an additional 117 shares during the last quarter. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $28,000. Finally, Navalign LLC bought a new stake in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $30,000. 70.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WPM has been the topic of several analyst reports. Jefferies Financial Group lowered their price objective on Wheaton Precious Metals from $182.00 to $177.00 and set a "buy" rating on the stock in a research report on Monday, July 6th. BMO Capital Markets initiated coverage on Wheaton Precious Metals in a report on Thursday, April 9th. They issued an "outperform" rating and a $240.00 target price for the company. 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 note on Thursday, July 9th. Wall Street Zen downgraded Wheaton Precious Metals from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Finally, Royal Bank Of Canada lowered their price target 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 equities 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 stock has a consensus rating of "Moderate Buy" and a consensus target price of $161.09.

Wheaton Precious Metals Stock Down 0.1%

Shares of WPM stock opened at $104.16 on Friday. The company has a 50 day moving average price of $120.54 and a 200-day moving average price of $131.94. Wheaton Precious Metals Corp. has a 52 week low of $87.96 and a 52 week high of $165.76. The firm has a market capitalization of $47.30 billion, a PE ratio of 26.30, a P/E/G ratio of 1.85 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.24 by $0.04. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The company had revenue of $901.47 million for the quarter, compared to the consensus estimate of $868.35 million. During the same quarter in the prior year, the firm earned $0.55 earnings per share. The firm's revenue for the quarter was up 91.7% compared to the same quarter last year. Analysts anticipate that Wheaton Precious Metals Corp. will post 4.82 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were paid a dividend of $0.195 per share. The ex-dividend date was Wednesday, May 27th. This represents a $0.78 dividend on an annualized basis and a yield of 0.7%. Wheaton Precious Metals's payout ratio is currently 19.70%.

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.

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