Oxbow Advisors LLC Buys Shares of 109,749 Wheaton Precious Metals Corp. $WPM

Key Points

• Oxbow Advisors initiated a position in Wheaton Precious Metals by buying 109,749 shares worth approximately $12.3 million, while institutional investors and hedge funds collectively own 70.34% of the stock.
• Wheaton reported quarterly EPS of $1.19, beating estimates of $1.15, with revenue rising 84.7% year over year to $878 million. The company also declared a quarterly dividend of $0.195 per share, implying a 0.6% annual yield.
• WPM opened at $132.69, below the analyst consensus target of $165.55. Despite several target-price reductions, analysts maintain a consensus “Moderate Buy” rating, with 12 Buy ratings and one Hold rating.

Oxbow Advisors LLC purchased a new position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 109,749 shares of the company's stock, valued at approximately $12,327,000. Wheaton Precious Metals comprises approximately 1.0% of Oxbow Advisors LLC's investment portfolio, making the stock its 19th biggest position.

A number of other large investors have also made changes to their positions in the business. Stack Financial Management Inc acquired a new stake in Wheaton Precious Metals in the second quarter worth about $30,118,000. Euro Pacific Asset Management LLC increased its holdings in shares of Wheaton Precious Metals by 3.0% during the first quarter. Euro Pacific Asset Management LLC now owns 294,402 shares of the company's stock valued at $37,895,000 after acquiring an additional 8,455 shares in the last quarter. Abacus Wealth Partners LLC increased its holdings in shares of 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 in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Wheaton Precious Metals by 489.7% in the 4th 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. Finally, Pecaut & CO. purchased a new position in shares of Wheaton Precious Metals in the 2nd quarter valued at approximately $1,297,000. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Down 2.9%

WPM stock opened at $132.69 on Wednesday. The firm has a market cap of $60.26 billion, a PE ratio of 29.42, a P/E/G ratio of 2.38 and a beta of 0.55. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.47 and a current ratio of 0.47. The firm's fifty day moving average is $116.80 and its 200 day moving average is $130.20. Wheaton Precious Metals Corp. has a one year low of $90.94 and a one year high of $165.76.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $878.00 million for the quarter, compared to analyst estimates of $879.29 million. During the same quarter last year, the firm posted $0.63 EPS. The business's revenue was up 84.7% on a year-over-year basis. On average, research analysts forecast that Wheaton Precious Metals Corp. will post 4.79 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be paid a $0.195 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.6%. Wheaton Precious Metals's dividend payout ratio (DPR) is 17.29%.

Analyst Ratings Changes

Several analysts have weighed in on WPM shares. Berenberg Bank set a $157.00 target price on shares of Wheaton Precious Metals in a research report on Tuesday, July 28th. Bank of America decreased their price target on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Jefferies Financial Group lowered their price objective on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a "buy" rating for the company in a research note on Monday, July 6th. Royal Bank Of Canada dropped their price objective on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an "outperform" rating on the stock in a report on Thursday, July 9th. Finally, Wall Street Zen lowered shares of Wheaton Precious Metals from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $165.55.

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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