D.A. Davidson & CO. Has $3.12 Million Stock Holdings in Wheaton Precious Metals Corp. $WPM

Key Points

• D.A. Davidson & Co. increased its Wheaton Precious Metals stake by 198.5% in the first quarter, buying 15,818 more shares to bring its total to 23,787 shares valued at about $3.12 million.
• Institutional ownership remains high, with hedge funds and other investors controlling 70.34% of the company; several large holders, including Norges Bank, Arrowstreet, and Van ECK, also added to their positions.
• Wheaton Precious Metals reported strong quarterly results, posting EPS of $1.28 and revenue of $901.47 million, both ahead of analyst expectations, while revenue jumped 91.7% year over year.

D.A. Davidson & CO. lifted its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 198.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,787 shares of the company's stock after purchasing an additional 15,818 shares during the quarter. D.A. Davidson & CO.'s holdings in Wheaton Precious Metals were worth $3,116,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in Wheaton Precious Metals during the 4th quarter worth $864,977,000. Arrowstreet Capital Limited Partnership grew its stake in Wheaton Precious Metals by 40.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,912,588 shares of the company's stock valued at $694,951,000 after acquiring an additional 1,715,540 shares during the period. Van ECK Associates Corp grew its stake in Wheaton Precious Metals by 10.7% in the fourth quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company's stock valued at $1,700,517,000 after acquiring an additional 1,402,092 shares during the period. Qube Research & Technologies Ltd increased its holdings in shares of Wheaton Precious Metals by 1,655.4% in the third quarter. Qube Research & Technologies Ltd now owns 1,245,766 shares of the company's stock worth $139,333,000 after acquiring an additional 1,174,799 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Wheaton Precious Metals by 2,621.8% in the fourth quarter. AQR Capital Management LLC now owns 903,678 shares of the company's stock worth $106,239,000 after acquiring an additional 870,476 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company's stock.

Wheaton Precious Metals Trading Down 0.0%

WPM stock opened at $104.16 on Monday. The stock has a 50-day moving average price of $120.54 and a two-hundred day moving average price of $132.05. Wheaton Precious Metals Corp. has a 1 year low of $87.96 and a 1 year high of $165.76. The stock has a market cap of $47.30 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 1.85 and a beta of 0.55.

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

Wheaton Precious Metals Dividend Announcement

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

Wall Street Analyst Weigh In

WPM has been the topic of a number of research analyst reports. BMO Capital Markets began coverage on Wheaton Precious Metals in a research report on Thursday, April 9th. They set an "outperform" rating and a $240.00 price target on the stock. Wall Street Zen lowered Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Royal Bank Of Canada lowered their target price 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. Weiss Ratings downgraded shares of Wheaton Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday. Finally, Scotiabank reduced their price target on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a "sector outperform" rating for the company in a report on Tuesday, July 14th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $161.09.

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.

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