Regal Partners Ltd Invests $1.97 Million in Wheaton Precious Metals Corp. $WPM

Key Points

• Regal Partners purchased 15,053 shares of Wheaton Precious Metals worth approximately $1.97 million, while institutional investors collectively own 70.34% of the company.
• Analysts remain broadly positive, with 12 Buy ratings and one Hold rating; the stock has an average price target of $165.55, despite several recent target-price reductions.
• Wheaton reported strong quarterly results, including $1.28 adjusted EPS and $901.47 million in revenue, representing 91.7% year-over-year growth. The company also pays a quarterly dividend of $0.195 per share, yielding about 0.7% annually.

Regal Partners Ltd bought a new stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 15,053 shares of the company's stock, valued at approximately $1,972,000.

A number of other large investors also recently made changes to their positions in the company. AQR Capital Management LLC bought a new stake in Wheaton Precious Metals in the 1st quarter valued at $331,000. Focus Partners Wealth increased its position in Wheaton Precious Metals by 10.7% during the 1st quarter. Focus Partners Wealth now owns 11,223 shares of the company's stock worth $871,000 after buying an additional 1,081 shares during the period. Acadian Asset Management LLC bought a new position in Wheaton Precious Metals during the 1st quarter worth $209,000. Sivia Capital Partners LLC acquired a new stake in shares of Wheaton Precious Metals during the second quarter worth $239,000. Finally, Rhumbline Advisers lifted its holdings in shares of Wheaton Precious Metals by 28.3% during the second quarter. Rhumbline Advisers now owns 2,952 shares of the company's stock worth $265,000 after buying an additional 652 shares in the last quarter. Institutional investors own 70.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wall Street Zen downgraded shares of Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Berenberg Bank set a $157.00 price objective on shares of Wheaton Precious Metals in a research note on Tuesday. UBS Group cut their price objective on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Royal Bank Of Canada decreased their target price on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an "outperform" rating on the stock in a research report on Thursday, July 9th. Finally, Scotiabank lowered their target price on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a "sector outperform" rating on the stock in a report on Tuesday, July 14th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $165.55.

Wheaton Precious Metals Price Performance

Shares of NYSE:WPM opened at $109.47 on Wednesday. The company's 50 day simple moving average is $116.86 and its 200 day simple moving average is $131.53. The stock has a market capitalization of $49.72 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 2.02 and a beta of 0.55. Wheaton Precious Metals Corp. has a 1 year low of $90.39 and a 1 year high of $165.76.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.24 by $0.04. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The business had revenue of $901.47 million during the quarter, compared to the consensus estimate of $868.35 million. During the same period in the previous year, the business earned $0.55 earnings per share. The company's revenue was up 91.7% on a year-over-year basis. As a group, analysts anticipate that Wheaton Precious Metals Corp. will post 4.73 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were issued a dividend of $0.195 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.7%. Wheaton Precious Metals's payout ratio is 19.70%.

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.

Want to see what other hedge funds are holding WPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wheaton Precious Metals Corp. (NYSE:WPM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.