Exchange Traded Concepts LLC Raises Holdings in Wheaton Precious Metals Corp. $WPM

Key Points

• Exchange Traded Concepts LLC increased its position in Wheaton Precious Metals Corp. by 115.6% in Q2, owning a total of 114,605 shares valued at approximately $10.3 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Wheaton Precious Metals, with an average price target of $101.44, indicating potential growth.
• Wheaton Precious Metals reported a 68.2% year-over-year increase in quarterly revenue, reaching $503.22 million, and posted an EPS of $0.63, surpassing expectations.

Exchange Traded Concepts LLC grew its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 115.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 114,605 shares of the company's stock after purchasing an additional 61,451 shares during the quarter. Exchange Traded Concepts LLC's holdings in Wheaton Precious Metals were worth $10,292,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Mn Services Vermogensbeheer B.V. boosted its position in shares of Wheaton Precious Metals by 3.5% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 169,530 shares of the company's stock worth $15,215,000 after purchasing an additional 5,700 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Wheaton Precious Metals in the second quarter valued at about $239,000. Bulwark Capital Corp purchased a new position in shares of Wheaton Precious Metals during the second quarter valued at about $27,000. Apella Capital LLC lifted its stake in shares of Wheaton Precious Metals by 15.8% in the second quarter. Apella Capital LLC now owns 3,456 shares of the company's stock worth $320,000 after buying an additional 471 shares in the last quarter. Finally, Value Partners Investments Inc. lifted its position in Wheaton Precious Metals by 11.5% during the second quarter. Value Partners Investments Inc. now owns 16,426 shares of the company's stock valued at $1,474,000 after purchasing an additional 1,694 shares during the period. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Up 2.8%

Shares of WPM traded up $2.89 during trading hours on Friday, hitting $107.67. 8,717,457 shares of the company were exchanged, compared to its average volume of 1,840,410. The company has a market cap of $48.88 billion, a price-to-earnings ratio of 62.24, a P/E/G ratio of 2.91 and a beta of 0.42. Wheaton Precious Metals Corp. has a fifty-two week low of $55.47 and a fifty-two week high of $108.67. The firm's fifty day moving average is $97.53 and its 200 day moving average is $87.83.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The firm had revenue of $503.22 million during the quarter, compared to the consensus estimate of $424.23 million. During the same period last year, the company earned $0.33 earnings per share. The business's quarterly revenue was up 68.2% on a year-over-year basis. Analysts anticipate 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 given a $0.165 dividend. The ex-dividend date was Thursday, August 21st. This represents a $0.66 annualized dividend and a dividend yield of 0.6%. Wheaton Precious Metals's payout ratio is 38.15%.

Wall Street Analyst Weigh In

WPM has been the topic of a number of analyst reports. National Bankshares reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, June 24th. CIBC reissued an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, July 15th. BMO Capital Markets reissued an "outperform" rating on shares of Wheaton Precious Metals in a research note on Friday, August 8th. Berenberg Bank raised their target price on shares of Wheaton Precious Metals from $102.00 to $108.00 and gave the company a "buy" rating in a report on Friday, September 12th. Finally, Scotiabank increased their price target on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $102.78.

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.