NewEdge Advisors LLC Reduces Stock Position in Wheaton Precious Metals Corp. $WPM

Key Points

• NewEdge Advisors cut its Wheaton Precious Metals position by 58.3% in the second quarter, selling 23,742 shares and retaining 17,000 shares valued at approximately $1.91 million. Institutional investors collectively own 70.34% of WPM.
• Wheaton Precious Metals reported quarterly EPS of $1.19, exceeding analyst expectations of $1.15, while revenue rose 84.7% year over year to $878 million. The company also maintains strong profitability, with a 64.66% net margin.
• Analysts remain broadly positive, with 11 Buy ratings and one Hold rating, producing a “Moderate Buy” consensus and an average price target of $166.00. The company pays a quarterly dividend of $0.195, or $0.78 annualized.

NewEdge Advisors LLC trimmed its holdings in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 58.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,000 shares of the company's stock after selling 23,742 shares during the period. NewEdge Advisors LLC's holdings in Wheaton Precious Metals were worth $1,910,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in WPM. Cornerstone Planning Group LLC raised its holdings in 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 acquiring an additional 162 shares in the last quarter. Harvest Fund Management Co. Ltd increased its position in shares of Wheaton Precious Metals by 100.0% in 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 last quarter. Hollencrest Capital Management raised its stake in shares of Wheaton Precious Metals by 73.5% in the 1st quarter. Hollencrest Capital Management now owns 236 shares of the company's stock valued at $31,000 after purchasing an additional 100 shares in the last quarter. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Wheaton Precious Metals in the 4th quarter valued at about $28,000. Finally, Leonteq Securities AG bought a new position in shares of Wheaton Precious Metals during the fourth quarter worth about $38,000. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Trading Down 0.8%

Wheaton Precious Metals stock opened at $150.93 on Friday. The firm has a 50 day simple moving average of $134.18 and a 200-day simple moving average of $131.52. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a market capitalization of $68.55 billion, a PE ratio of 33.47, a price-to-earnings-growth ratio of 2.69 and a beta of 0.60. Wheaton Precious Metals Corp. has a 12-month low of $92.57 and a 12-month high of $165.76.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.04. The firm had revenue of $878.00 million for 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%.Wheaton Precious Metals's revenue was up 84.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 earnings per share. As a group, equities research analysts expect that Wheaton Precious Metals Corp. will post 4.79 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were issued a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Thursday, August 20th. Wheaton Precious Metals's dividend payout ratio (DPR) is presently 17.29%.

Wall Street Analyst Weigh In

WPM has been the subject of several research analyst reports. UBS Group lowered their price objective on Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Scotiabank reduced their target price 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 report on Thursday, July 16th. Berenberg Bank set a $157.00 price target on Wheaton Precious Metals in a report on Tuesday, July 28th. Finally, Royal Bank Of Canada upped their price target on Wheaton Precious Metals from $160.00 to $165.00 and gave the company an "outperform" rating in a research report on Wednesday. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of "Moderate Buy" and a consensus price target of $166.00.

Wheaton Precious Metals Profile

Wheaton Precious Metals Corp. NYSE: WPM is a precious metals streaming company headquartered in Vancouver, British Columbia. Rather than operating mines directly, the company provides upfront financing to mining companies in exchange for the right to purchase a portion of the future production from specific mining projects at predetermined prices.

Wheaton's streaming portfolio is primarily focused on gold and silver, with additional exposure to palladium and cobalt through certain agreements.

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