Parvin Asset Management LLC Takes $1.37 Million Position in Wheaton Precious Metals Corp. $WPM

Key Points

• Parvin Asset Management acquired 12,175 shares of Wheaton Precious Metals worth approximately $1.37 million, making WPM 1.1% of its portfolio. Institutional investors collectively own 70.34% of the company.
• Analysts maintain a favorable outlook, with 12 Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and a target price of $165.55.
• Wheaton reported quarterly EPS of $1.19, exceeding estimates, 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.

Parvin Asset Management LLC acquired 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 filing with the Securities & Exchange Commission. The institutional investor acquired 12,175 shares of the company's stock, valued at approximately $1,367,000. Wheaton Precious Metals accounts for 1.1% of Parvin Asset Management LLC's portfolio, making the stock its 23rd biggest position.

Several other hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new stake in Wheaton Precious Metals in the fourth quarter worth $864,977,000. BlackRock Inc. acquired a new stake in shares of Wheaton Precious Metals in the second quarter valued at approximately $581,250,000. Canada Pension Plan Investment Board bought a new stake in shares of Wheaton Precious Metals during the second quarter valued at approximately $351,708,000. Bank of America Corp DE bought a new position in Wheaton Precious Metals in the 2nd quarter worth approximately $328,309,000. Finally, Legal & General Group Plc acquired a new stake in Wheaton Precious Metals in the 2nd quarter valued at approximately $320,838,000. Institutional investors own 70.34% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WPM. Weiss Ratings lowered Wheaton Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 16th. Royal Bank Of Canada dropped their target price on Wheaton Precious Metals from $165.00 to $160.00 and set an "outperform" rating on the stock in a report on Thursday, July 9th. Wall Street Zen cut Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Berenberg Bank set a $157.00 target price on Wheaton Precious Metals in a report on Tuesday, July 28th. Finally, UBS Group cut their target price on shares of 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. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $165.55.

Wheaton Precious Metals Stock Down 4.9%

WPM opened at $155.75 on Thursday. Wheaton Precious Metals Corp. has a fifty-two week low of $92.57 and a fifty-two week high of $165.76. The company has a market capitalization of $70.74 billion, a P/E ratio of 34.53, a P/E/G ratio of 2.89 and a beta of 0.55. 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 firm's fifty day moving average price is $121.21 and its two-hundred day moving average price is $130.97.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $878.00 million for the quarter, compared to analyst estimates of $879.29 million. During the same period in the previous year, the business earned $0.63 EPS. The firm's revenue was up 84.7% on a year-over-year basis. On average, analysts anticipate 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. Investors of record on Thursday, August 20th will be given a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Thursday, August 20th. Wheaton Precious Metals's dividend payout ratio (DPR) is 17.29%.

About Wheaton Precious Metals

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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