Sanctuary Advisors LLC Has $2.57 Million Stock Holdings in Wheaton Precious Metals Corp. $WPM

Key Points

• Sanctuary Advisors LLC increased its stake in Wheaton Precious Metals by 132% in the first quarter, ending with 19,630 shares valued at about $2.57 million.
• Institutional ownership in Wheaton Precious Metals remains high, with big holders like Vanguard, Van ECK, and Capital International Investors also adjusting their positions; institutions now own 70.34% of the stock.
• The company beat quarterly earnings expectations, reporting $1.28 EPS versus $1.24 expected, while revenue jumped 91.7% year over year to $901.47 million. Despite some analyst target cuts, the overall consensus remains Moderate Buy.

Sanctuary Advisors LLC boosted its stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 132.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,630 shares of the company's stock after purchasing an additional 11,167 shares during the period. Sanctuary Advisors LLC's holdings in Wheaton Precious Metals were worth $2,572,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Wheaton Precious Metals by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 19,079,029 shares of the company's stock valued at $2,242,969,000 after acquiring an additional 289,939 shares during the last quarter. Van ECK Associates Corp raised its position in Wheaton Precious Metals by 10.7% in the fourth quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company's stock valued at $1,700,517,000 after purchasing an additional 1,402,092 shares during the last quarter. Capital International Investors boosted its stake in shares of Wheaton Precious Metals by 1.2% during the fourth quarter. Capital International Investors now owns 7,595,725 shares of the company's stock valued at $892,650,000 after purchasing an additional 93,599 shares in the last quarter. Norges Bank bought a new stake in shares of Wheaton Precious Metals during the fourth quarter worth about $864,977,000. Finally, TD Asset Management Inc grew its holdings in shares of Wheaton Precious Metals by 0.5% during the fourth quarter. TD Asset Management Inc now owns 7,285,275 shares of the company's stock worth $857,598,000 after purchasing an additional 33,221 shares during the last quarter. Institutional investors own 70.34% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Royal Bank Of Canada cut 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. UBS Group decreased their price target on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Scotiabank dropped their price target on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a "sector outperform" rating for the company in a research note on Tuesday, July 14th. Wall Street Zen cut shares of Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, Weiss Ratings downgraded Wheaton Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 16th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Wheaton Precious Metals has an average rating of "Moderate Buy" and an average target price of $161.09.

Wheaton Precious Metals Stock Up 6.2%

WPM stock opened at $109.87 on Wednesday. The firm has a market cap of $49.90 billion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.87 and a beta of 0.55. The company's fifty day simple moving average is $119.08 and its 200 day simple moving average is $131.89. Wheaton Precious Metals Corp. has a 12-month low of $90.39 and a 12-month high of $165.76.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.24 by $0.04. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The firm had revenue of $901.47 million during the quarter, compared to the consensus estimate of $868.35 million. During the same period last year, the business posted $0.55 EPS. The business's revenue was up 91.7% compared to the same quarter last year. Research analysts expect that Wheaton Precious Metals Corp. will post 4.73 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

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

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.

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.