Nykredit A S Takes Position in Wheaton Precious Metals Corp. $WPM

Key Points

• Nykredit A S purchased 180,947 shares of Wheaton Precious Metals in the second quarter, valued at approximately $20.35 million. Institutional investors collectively own 70.34% of the company.
• Analysts remain broadly positive, with 11 Buy ratings and one Hold; the consensus rating is “Moderate Buy” with a target price of $166, despite several analysts recently lowering their price targets.
• 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, representing a 0.5% annualized yield.

Nykredit A S purchased a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 180,947 shares of the company's stock, valued at approximately $20,348,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Cornerstone Financial Management LLC boosted its position in shares of Wheaton Precious Metals by 16.5% during the second quarter. Cornerstone Financial Management LLC now owns 565 shares of the company's stock valued at $63,000 after buying an additional 80 shares during the last quarter. Groupe la Francaise lifted its stake in Wheaton Precious Metals by 9.7% during the 2nd quarter. Groupe la Francaise now owns 305,000 shares of the company's stock valued at $34,324,000 after acquiring an additional 26,975 shares during the period. Ameritas Advisory Services LLC lifted its stake in Wheaton Precious Metals by 79.2% during the 2nd quarter. Ameritas Advisory Services LLC now owns 7,331 shares of the company's stock valued at $823,000 after acquiring an additional 3,241 shares during the period. HB Wealth Management LLC boosted its holdings in shares of Wheaton Precious Metals by 20.2% during the 2nd quarter. HB Wealth Management LLC now owns 6,674 shares of the company's stock valued at $750,000 after acquiring an additional 1,120 shares during the last quarter. Finally, Angeles Wealth Management LLC boosted its holdings in shares of Wheaton Precious Metals by 11.4% during the 2nd quarter. Angeles Wealth Management LLC now owns 2,113 shares of the company's stock valued at $237,000 after acquiring an additional 217 shares during the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on WPM shares. Scotiabank decreased their price objective on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a "sector outperform" rating for the company in a report on Tuesday, July 14th. Bank of America dropped their target price 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. Berenberg Bank set a $157.00 target price on shares of Wheaton Precious Metals in a research report on Tuesday, July 28th. Weiss Ratings lowered shares of Wheaton Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, July 16th. Finally, UBS Group lowered their price target on Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $166.00.

Wheaton Precious Metals Price Performance

NYSE WPM opened at $150.93 on Friday. Wheaton Precious Metals Corp. has a 52 week low of $92.57 and a 52 week high of $165.76. The firm has a market capitalization of $68.55 billion, a P/E ratio of 33.47, a PEG ratio of 2.67 and a beta of 0.60. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average price of $134.18 and a 200-day moving average price of $131.52.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.04. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The company had revenue of $878.00 million for the quarter, compared to the consensus estimate of $879.29 million. During the same quarter last year, the firm posted $0.63 earnings per share. The firm's revenue was up 84.7% compared to the same quarter last year. Equities research analysts anticipate that Wheaton Precious Metals Corp. will post 4.8 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were given a dividend of $0.195 per share. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.5%. Wheaton Precious Metals's payout ratio is presently 17.29%.

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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