22,239 Shares in Wheaton Precious Metals Corp. $WPM Purchased by Quantitative Investment Management LLC

Key Points

• Quantitative Investment Management LLC has acquired a new position in Wheaton Precious Metals by purchasing 22,239 shares for approximately $1.726 million.
• Analysts have issued mostly positive ratings for Wheaton Precious Metals, with an average rating of "Moderate Buy" and a target price of $97.33.
• The company reported strong quarterly earnings with $0.63 earnings per share, exceeding estimates and indicating a 68.2% increase in revenue year-over-year.

Quantitative Investment Management LLC bought a new position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 22,239 shares of the company's stock, valued at approximately $1,726,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Smartleaf Asset Management LLC increased its holdings in Wheaton Precious Metals by 44.7% in the first quarter. Smartleaf Asset Management LLC now owns 1,438 shares of the company's stock worth $110,000 after purchasing an additional 444 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Wheaton Precious Metals by 26.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 27,467 shares of the company's stock worth $2,132,000 after purchasing an additional 5,797 shares in the last quarter. Sprott Inc. increased its holdings in Wheaton Precious Metals by 2.2% in the first quarter. Sprott Inc. now owns 1,014,954 shares of the company's stock worth $78,859,000 after purchasing an additional 21,507 shares in the last quarter. Laffer Tengler Investments Inc. bought a new stake in Wheaton Precious Metals in the first quarter worth approximately $239,000. Finally, Compound Planning Inc. bought a new stake in Wheaton Precious Metals in the first quarter worth approximately $277,000. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Stock Performance

Shares of NYSE WPM traded down $0.11 during midday trading on Wednesday, hitting $96.59. 1,821,512 shares of the stock traded hands, compared to its average volume of 1,882,168. The company has a market cap of $43.85 billion, a PE ratio of 55.83, a P/E/G ratio of 2.66 and a beta of 0.39. Wheaton Precious Metals Corp. has a one year low of $55.47 and a one year high of $103.81. The business has a 50 day moving average price of $92.63 and a two-hundred day moving average price of $83.55.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.05. The company had revenue of $503.22 million for the quarter, compared to analysts' expectations of $424.23 million. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.Wheaton Precious Metals's quarterly revenue was up 68.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 earnings per share. As a group, equities research analysts forecast that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.66 annualized dividend and a dividend yield of 0.7%. Wheaton Precious Metals's payout ratio is presently 38.15%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WPM. National Bankshares reiterated an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, June 24th. CIBC reiterated an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, July 15th. UBS Group set a $106.00 target price on Wheaton Precious Metals and gave the stock a "neutral" rating in a report on Monday, August 11th. Scotiabank boosted their price objective on Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector perform" rating in a report on Tuesday, August 12th. Finally, Royal Bank Of Canada boosted their price objective on Wheaton Precious Metals from $80.00 to $90.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Wheaton Precious Metals has a consensus rating of "Moderate Buy" and an average price target of $97.33.

Wheaton Precious Metals Profile

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.