Focus Partners Advisor Solutions LLC Acquires New Holdings in Wheaton Precious Metals Corp. $WPM

Key Points

• Focus Partners Advisor Solutions acquired 20,080 shares of Wheaton Precious Metals worth approximately $2.26 million in the second quarter. Institutional investors collectively own 70.34% of the company.
• Wheaton reported quarterly EPS of $1.19, exceeding estimates of $1.15, while revenue rose 84.7% year over year to $878 million. The company also announced a quarterly dividend of $0.195 per share, yielding about 0.6% annually.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and one Hold rating. The stock has a “Moderate Buy” consensus and an average price target of $165.55, above its reported share price of $134.25.

Focus Partners Advisor Solutions LLC bought a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 20,080 shares of the company's stock, valued at approximately $2,255,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. raised its stake in shares of Wheaton Precious Metals by 144.4% during the fourth quarter. Assetmark Inc. now owns 220 shares of the company's stock valued at $26,000 after acquiring an additional 130 shares during the last quarter. Harvest Fund Management Co. Ltd increased its holdings in Wheaton Precious Metals by 100.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company's stock valued at $27,000 after purchasing an additional 117 shares during the period. Cary Street Partners Investment Advisory LLC acquired a new stake in Wheaton Precious Metals in the fourth quarter valued at $28,000. Cornerstone Planning Group LLC raised its position in Wheaton Precious Metals by 245.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 228 shares of the company's stock worth $29,000 after purchasing an additional 162 shares during the last quarter. Finally, Navalign LLC acquired a new position in Wheaton Precious Metals during the 4th quarter worth about $30,000. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Stock Performance

Shares of WPM opened at $134.25 on Friday. The company has a current ratio of 0.47, a quick ratio of 4.53 and a debt-to-equity ratio of 0.20. The firm's fifty day simple moving average is $115.96 and its two-hundred day simple moving average is $130.57. Wheaton Precious Metals Corp. has a 12 month low of $90.94 and a 12 month high of $165.76. The stock has a market capitalization of $60.97 billion, a P/E ratio of 29.77, a price-to-earnings-growth ratio of 2.38 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.04. The firm had revenue of $878.00 million during the quarter, compared to analyst estimates of $879.29 million. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%.The business's quarterly revenue was up 84.7% on a year-over-year basis. During the same period last year, the company posted $0.63 EPS. As a group, analysts predict that Wheaton Precious Metals Corp. will post 4.79 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

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

Analysts Set New Price Targets

WPM has been the subject of several recent research reports. Scotiabank decreased their price target on Wheaton Precious Metals from $180.00 to $175.00 and set a "sector outperform" rating for the company in a research note on Tuesday, July 14th. UBS Group cut their price objective on Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. Bank of America reduced their target price on Wheaton Precious Metals from $163.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Weiss Ratings downgraded shares of Wheaton Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, July 16th. Finally, Berenberg Bank set a $157.00 price target on shares of Wheaton Precious Metals in a report on Tuesday, July 28th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of "Moderate Buy" and an average target price of $165.55.

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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