Mather Group LLC. Raises Stake in Wheaton Precious Metals Corp. $WPM

Key Points

• Mather Group LLC significantly increased its stake in Wheaton Precious Metals Corp. by 11,775.0% during Q2, owning 2,375 shares worth approximately $213,000.
• Wheaton Precious Metals reported a 68.2% increase in revenue year-over-year, reaching $503.22 million, with earnings per share of $0.63 compared to estimates of $0.58.
• The company declared a quarterly dividend of $0.165 per share, representing a yield of 0.6% and a payout ratio of 38.15%.

Mather Group LLC. grew its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 11,775.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,375 shares of the company's stock after purchasing an additional 2,355 shares during the quarter. Mather Group LLC.'s holdings in Wheaton Precious Metals were worth $213,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bulwark Capital Corp bought a new stake in shares of Wheaton Precious Metals in the second quarter valued at about $27,000. NBT Bank N A NY raised its holdings in shares of Wheaton Precious Metals by 129.3% in the first quarter. NBT Bank N A NY now owns 415 shares of the company's stock valued at $32,000 after acquiring an additional 234 shares in the last quarter. Wealth Preservation Advisors LLC bought a new stake in shares of Wheaton Precious Metals in the first quarter valued at about $38,000. Banque Cantonale Vaudoise bought a new stake in shares of Wheaton Precious Metals in the first quarter valued at about $49,000. Finally, Princeton Global Asset Management LLC bought a new stake in shares of Wheaton Precious Metals in the first quarter valued at about $52,000. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Stock Up 1.5%

WPM opened at $109.01 on Friday. Wheaton Precious Metals Corp. has a 52-week low of $55.47 and a 52-week high of $109.67. The company has a market cap of $49.49 billion, a P/E ratio of 63.01, a price-to-earnings-growth ratio of 2.94 and a beta of 0.42. The firm's 50-day moving average price is $99.28 and its 200-day moving average price is $89.11.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.05. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The firm had revenue of $503.22 million for the quarter, compared to the consensus estimate of $424.23 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. The company's revenue for the quarter was up 68.2% compared to the same quarter last year. On average, research analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were issued a dividend of $0.165 per share. 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 dividend payout ratio is 38.15%.

Analysts Set New Price Targets

WPM has been the subject of several recent research reports. UBS Group lifted their price objective on Wheaton Precious Metals from $106.00 to $118.00 and gave the company a "neutral" rating in a report on Friday, September 19th. CIBC lifted their price objective on shares of Wheaton Precious Metals from $130.00 to $135.00 and gave the stock an "outperform" rating in a research report on Thursday. Royal Bank Of Canada boosted their price objective on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Berenberg Bank boosted their price objective on shares of Wheaton Precious Metals from $102.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Finally, National Bankshares reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $106.11.

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.

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