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

Key Points

• Ieq Capital LLC purchased 12,692 shares of Wheaton Precious Metals during the second quarter, worth approximately $1.43 million. Institutional investors collectively own 70.34% of the company.
• Wheaton reported quarterly EPS of $1.19, ahead of the $1.15 analyst estimate, while revenue reached $878 million, up 84.7% year over year.
• The company declared a quarterly dividend of $0.195 per share, or $0.78 annualized, yielding about 0.5%. Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $165.55.

Ieq Capital LLC purchased a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 12,692 shares of the company's stock, valued at approximately $1,426,000.

Other large investors have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd increased its position in Wheaton Precious Metals by 100.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company's stock worth $27,000 after purchasing an additional 117 shares during the period. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Wheaton Precious Metals in the 4th quarter valued at approximately $28,000. Cornerstone Planning Group LLC boosted its stake in shares of Wheaton Precious Metals by 245.5% in the first quarter. Cornerstone Planning Group LLC now owns 228 shares of the company's stock valued at $29,000 after buying an additional 162 shares in the last quarter. Navalign LLC purchased a new stake in shares of Wheaton Precious Metals in the fourth quarter valued at approximately $30,000. Finally, Hollencrest Capital Management grew its holdings in Wheaton Precious Metals by 73.5% during the first quarter. Hollencrest Capital Management now owns 236 shares of the company's stock worth $31,000 after acquiring an additional 100 shares during the period. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Trading Down 4.9%

Shares of WPM stock opened at $155.75 on Thursday. The stock has a market cap of $70.74 billion, a P/E ratio of 34.53, a P/E/G ratio of 2.89 and a beta of 0.55. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.20. Wheaton Precious Metals Corp. has a fifty-two week low of $92.57 and a fifty-two week high of $165.76. The business has a fifty day simple moving average of $121.21 and a 200-day simple moving average of $130.97.

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

Wheaton Precious Metals Dividend Announcement

The business 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 $0.195 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.78 dividend on an annualized basis and a yield of 0.5%. Wheaton Precious Metals's dividend payout ratio is presently 17.29%.

Analyst Ratings Changes

A number of equities research analysts have commented on WPM shares. Weiss Ratings downgraded Wheaton Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 16th. Berenberg Bank set a $157.00 price target on shares of Wheaton Precious Metals in a report on Tuesday, July 28th. Jefferies Financial Group reduced their price objective on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a "buy" rating for the company in a research note on Monday, July 6th. Bank of America decreased their price objective on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Finally, Wall Street Zen lowered shares of Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $165.55.

Wheaton Precious Metals 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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