Osmosis Investment Management UK Ltd Buys Shares of 11,863 Wheaton Precious Metals Corp. $WPM

Key Points

• Osmosis Investment Management initiated a 11,863-share position in Wheaton Precious Metals valued at approximately $1.33 million. Institutional investors collectively own 70.34% of the company.
• Analysts remain broadly positive, with 12 Buy ratings and one Hold rating; the stock has a “Moderate Buy” consensus and an average price target of $165.55, despite several recent target-price cuts.
• 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, or $0.78 annualized.

Osmosis Investment Management UK Ltd purchased a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 11,863 shares of the company's stock, valued at approximately $1,334,000.

A number of other hedge funds and other institutional investors have also modified their holdings of WPM. Stack Financial Management Inc acquired a new position in Wheaton Precious Metals in the 2nd quarter valued at $30,118,000. Euro Pacific Asset Management LLC lifted its position in Wheaton Precious Metals by 3.0% during the 1st quarter. Euro Pacific Asset Management LLC now owns 294,402 shares of the company's stock worth $37,895,000 after acquiring an additional 8,455 shares during the last quarter. Abacus Wealth Partners LLC boosted its holdings in Wheaton Precious Metals by 1,402.0% during the fourth quarter. Abacus Wealth Partners LLC now owns 32,023 shares of the company's stock valued at $3,763,000 after acquiring an additional 29,891 shares during the period. Pecaut & CO. bought a new stake in Wheaton Precious Metals during the second quarter valued at about $1,297,000. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Wheaton Precious Metals by 489.7% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 74,300 shares of the company's stock valued at $8,631,000 after purchasing an additional 61,700 shares during the last quarter. Institutional investors own 70.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. UBS Group dropped their price objective on Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. Royal Bank Of Canada decreased their target price on Wheaton Precious Metals from $165.00 to $160.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. Scotiabank dropped their price target on 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. Berenberg Bank set a $157.00 price target on Wheaton Precious Metals in a report on Tuesday, July 28th. Finally, Wall Street Zen cut Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Wheaton Precious Metals currently has an average rating of "Moderate Buy" and an average price target of $165.55.

Wheaton Precious Metals Stock Up 1.6%

NYSE WPM opened at $160.25 on Tuesday. Wheaton Precious Metals Corp. has a twelve month low of $92.57 and a twelve month high of $165.76. The stock has a market cap of $72.78 billion, a PE ratio of 35.53, a PEG ratio of 2.79 and a beta of 0.55. The firm has a 50-day simple moving average of $119.91 and a 200 day simple moving average of $130.64. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.47 and a current ratio of 0.47.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued 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. 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%.The company's quarterly revenue was up 84.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 earnings per share. On average, research analysts forecast that Wheaton Precious Metals Corp. will post 4.8 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be given a dividend of $0.195 per share. The ex-dividend date is 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 currently 17.29%.

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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