Euro Pacific Asset Management LLC Has $26.35 Million Stake in Wheaton Precious Metals Corp. $WPM

Key Points

• Euro Pacific Asset Management LLC increased its stake in Wheaton Precious Metals to approximately $26.35 million, representing about 4.2% of its total holdings.
• Wheaton Precious Metals reported a significant earnings increase, with $503.22 million in revenue for the quarter, surpassing estimates and reflecting a 68.2% year-over-year growth.
• Wall Street analysts have largely given Wheaton Precious Metals a positive outlook, with an average price target of $109.75 and a "Moderate Buy" rating.

Euro Pacific Asset Management LLC lifted its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 1.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 293,660 shares of the company's stock after purchasing an additional 3,053 shares during the quarter. Wheaton Precious Metals accounts for approximately 4.2% of Euro Pacific Asset Management LLC's holdings, making the stock its 9th biggest holding. Euro Pacific Asset Management LLC owned approximately 0.06% of Wheaton Precious Metals worth $26,349,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Autumn Glory Partners LLC acquired a new stake in shares of Wheaton Precious Metals during the second quarter worth approximately $485,000. Checchi Capital Advisers LLC acquired a new stake in Wheaton Precious Metals during the 2nd quarter valued at $224,000. LGT Fund Management Co Ltd. bought a new position in Wheaton Precious Metals in the 2nd quarter valued at $225,000. Synergy Asset Management LLC boosted its stake in Wheaton Precious Metals by 42.8% in the second quarter. Synergy Asset Management LLC now owns 4,354 shares of the company's stock worth $391,000 after purchasing an additional 1,304 shares in the last quarter. Finally, J. Safra Sarasin Holding AG grew its holdings in shares of Wheaton Precious Metals by 160.0% during the second quarter. J. Safra Sarasin Holding AG now owns 49,435 shares of the company's stock worth $4,439,000 after purchasing an additional 30,420 shares during the last quarter. 70.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WPM. National Bankshares reissued an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, June 24th. CIBC increased their price target on shares of Wheaton Precious Metals from $130.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, September 25th. Weiss Ratings reissued a "buy (b-)" rating on shares of Wheaton Precious Metals in a report on Saturday, September 27th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a report on Friday, August 8th. Finally, Berenberg Bank increased their price objective on Wheaton Precious Metals from $102.00 to $108.00 and gave the company a "buy" rating in a research report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $109.75.

Wheaton Precious Metals Stock Performance

WPM opened at $109.90 on Tuesday. The company has a fifty day moving average price of $101.31 and a two-hundred day moving average price of $90.70. The firm has a market capitalization of $49.89 billion, a PE ratio of 63.53, a P/E/G ratio of 2.94 and a beta of 0.41. Wheaton Precious Metals Corp. has a 52 week low of $55.47 and a 52 week high of $114.00.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. The business had revenue of $503.22 million for the quarter, compared to analyst estimates of $424.23 million. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The firm's revenue was up 68.2% on a year-over-year basis. During the same period last year, the company earned $0.33 EPS. Equities analysts forecast that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were paid a $0.165 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.6%. Wheaton Precious Metals's dividend payout ratio is 38.15%.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.