Lombard Odier Asset Management Europe Ltd Takes $3.46 Million Position in Wheaton Precious Metals Corp. $WPM

Key Points

• Lombard Odier Asset Management Europe acquired 30,763 Wheaton Precious Metals shares worth approximately $3.46 million. Institutional investors collectively own 70.34% of the company, with several major funds also establishing sizable positions.
• Analysts remain broadly positive, with 12 Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and a $165.55 price target despite recent target reductions.
• Wheaton reported quarterly EPS of $1.19, exceeding estimates, while revenue rose 84.7% year over year to $878 million. The company also declared a quarterly dividend of $0.195 per share, equivalent to a 0.5% annual yield.

Lombard Odier Asset Management Europe Ltd acquired a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,763 shares of the company's stock, valued at approximately $3,455,000.

A number of other hedge funds have also modified their holdings of WPM. Norges Bank bought a new stake in Wheaton Precious Metals in the 4th quarter valued at approximately $864,977,000. BlackRock Inc. acquired a new position in Wheaton Precious Metals during the 2nd quarter worth approximately $581,250,000. Canada Pension Plan Investment Board bought a new position in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $351,708,000. Bank of America Corp DE bought a new position in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $328,309,000. Finally, Legal & General Group Plc acquired a new stake in shares of Wheaton Precious Metals in the second quarter valued at approximately $320,838,000. 70.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WPM shares. UBS Group cut their price objective on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Bank of America decreased their target price on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Scotiabank cut their price target on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, July 14th. Wall Street Zen downgraded shares of Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, Jefferies Financial Group decreased their price objective on Wheaton Precious Metals from $182.00 to $177.00 and set a "buy" rating for the company in a report on Monday, July 6th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $165.55.

Wheaton Precious Metals Stock Performance

Shares of NYSE WPM opened at $153.48 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.20. Wheaton Precious Metals Corp. has a 12 month low of $92.57 and a 12 month high of $165.76. The stock has a 50 day moving average of $122.54 and a 200-day moving average of $131.28. The company has a market capitalization of $69.70 billion, a P/E ratio of 34.03, a P/E/G ratio of 2.79 and a beta of 0.55.

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

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be paid a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Thursday, August 20th. Wheaton Precious Metals's dividend payout ratio (DPR) is currently 17.29%.

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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