Principle Wealth Partners LLC Purchases New Shares in Wheaton Precious Metals Corp. $WPM

Key Points

• Principle Wealth Partners purchased 8,346 shares of Wheaton Precious Metals worth approximately $937,000 in the second quarter. Institutional investors collectively own 70.34% of the company, with Alberta Investment Management making a particularly large $25.1 million investment.
• 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 declared a quarterly dividend of $0.195 per share, equivalent to a 0.6% annualized yield.
• Analysts maintain a favorable outlook, with 12 Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and a $165.55 price target.

Principle Wealth Partners LLC purchased a new position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 8,346 shares of the company's stock, valued at approximately $937,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of WPM. OneDigital Investment Advisors LLC purchased a new position in shares of Wheaton Precious Metals in the second quarter worth approximately $461,000. Plato Investment Management Ltd acquired a new stake in shares of Wheaton Precious Metals during the second quarter valued at approximately $631,000. J.Safra Asset Management Corp purchased a new stake in shares of Wheaton Precious Metals in the 2nd quarter valued at approximately $437,000. Global Retirement Partners LLC purchased a new stake in shares of Wheaton Precious Metals in the 2nd quarter valued at approximately $109,000. Finally, Alberta Investment Management Corp acquired a new position in Wheaton Precious Metals in the 2nd quarter worth approximately $25,052,000. Institutional investors and hedge funds own 70.34% of the company's stock.

Wheaton Precious Metals Stock Performance

WPM opened at $136.85 on Tuesday. 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 company has a market cap of $62.15 billion, a PE ratio of 30.34, a price-to-earnings-growth ratio of 2.38 and a beta of 0.55. The stock has a 50-day moving average of $116.40 and a 200-day moving average of $130.36. Wheaton Precious Metals Corp. has a 52-week low of $90.94 and a 52-week high of $165.76.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.19 earnings per share 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 business had revenue of $878.00 million for the quarter, compared to the consensus estimate of $879.29 million. During the same period last year, the business earned $0.63 EPS. The firm's revenue was up 84.7% compared to the same quarter last year. As a group, equities research analysts forecast that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be given 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 currently 17.29%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on WPM shares. Jefferies Financial Group lowered their price objective on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a "buy" rating on the stock in a research report on Monday, July 6th. Royal Bank Of Canada reduced their target price on Wheaton Precious Metals from $165.00 to $160.00 and set an "outperform" rating for the company in a report on Thursday, July 9th. Bank of America decreased their price objective on Wheaton Precious Metals from $163.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Berenberg Bank set a $157.00 price target on shares of Wheaton Precious Metals in a report on Tuesday, July 28th. Finally, UBS Group lowered their price target on Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Wheaton Precious Metals presently has a consensus rating of "Moderate Buy" and a consensus price target of $165.55.

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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