Fielder Capital Group LLC Takes Position in Wheaton Precious Metals Corp. $WPM

Key Points

• Fielder Capital Group acquired 21,488 shares of Wheaton Precious Metals worth approximately $2.4 million. Institutional investors now own 70.34% of the company.
• Wheaton reported quarterly EPS of $1.19, exceeding estimates by $0.04, while revenue rose 84.7% year over year to $878 million. Analysts expect full-year EPS of $4.79.
• The company declared a quarterly dividend of $0.195 per share, or $0.78 annualized, representing a 0.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $165.55.

Fielder Capital Group LLC acquired a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 21,488 shares of the company's stock, valued at approximately $2,414,000.

Several other large investors have also modified their holdings of WPM. Euro Pacific Asset Management LLC boosted its holdings in shares of Wheaton Precious Metals by 3.0% in the 1st quarter. Euro Pacific Asset Management LLC now owns 294,402 shares of the company's stock valued at $37,895,000 after purchasing an additional 8,455 shares during the last quarter. Abacus Wealth Partners LLC increased its holdings in shares of Wheaton Precious Metals by 1,402.0% during the 4th quarter. Abacus Wealth Partners LLC now owns 32,023 shares of the company's stock worth $3,763,000 after buying an additional 29,891 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Wheaton Precious Metals by 489.7% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 74,300 shares of the company's stock worth $8,631,000 after buying an additional 61,700 shares during the period. Stack Financial Management Inc purchased a new position in shares of Wheaton Precious Metals in the 2nd quarter worth $30,118,000. Finally, Intact Investment Management Inc. raised its position in shares of Wheaton Precious Metals by 627.2% in the 4th quarter. Intact Investment Management Inc. now owns 127,980 shares of the company's stock worth $15,045,000 after buying an additional 110,380 shares during the period. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

Wheaton Precious Metals stock opened at $134.25 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.47 and a quick ratio of 0.47. Wheaton Precious Metals Corp. has a 12 month low of $90.94 and a 12 month high of $165.76. The company has a fifty day moving average price of $115.96 and a two-hundred day moving average price of $130.45. The company has a market cap of $60.97 billion, a PE ratio of 29.77, a P/E/G ratio of 2.38 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, topping 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 company had revenue of $878.00 million for the quarter, compared to analysts' expectations of $879.29 million. During the same period in the prior year, the company earned $0.63 earnings per share. The firm's revenue was up 84.7% compared to the same quarter last year. Research analysts expect that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be given a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, August 20th. Wheaton Precious Metals's dividend payout ratio is currently 17.29%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WPM shares. Jefferies Financial Group lowered their price target on Wheaton Precious Metals from $182.00 to $177.00 and set a "buy" rating for the company in a research report on Monday, July 6th. Scotiabank cut their price objective on Wheaton Precious Metals from $180.00 to $175.00 and set a "sector outperform" rating on the stock in a report on Tuesday, July 14th. Weiss Ratings lowered Wheaton Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, July 16th. UBS Group dropped their target price on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Finally, Wall Street Zen lowered shares of Wheaton Precious Metals from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Twelve 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 an average 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.

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