Tocqueville Asset Management L.P. Invests $49.46 Million in Wheaton Precious Metals Corp. $WPM

Key Points

• Tocqueville Asset Management purchased 440,382 Wheaton Precious Metals shares worth approximately $49.46 million, giving it a 0.10% stake. Institutional investors and hedge funds collectively own 70.34% of the company.
• Analysts remain broadly positive, with 12 Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and an average price target of $165.55.
• Wheaton reported quarterly EPS of $1.19, ahead of the $1.15 consensus estimate, while revenue rose 84.7% year over year to $878 million. The company also declared a quarterly dividend of $0.195 per share, equal to a 0.5% yield.

Tocqueville Asset Management L.P. bought a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 440,382 shares of the company's stock, valued at approximately $49,464,000. Tocqueville Asset Management L.P. owned approximately 0.10% of Wheaton Precious Metals at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Assetmark Inc. boosted its holdings in Wheaton Precious Metals by 144.4% during the fourth quarter. Assetmark Inc. now owns 220 shares of the company's stock worth $26,000 after buying an additional 130 shares in the last quarter. Cornerstone Planning Group LLC increased its holdings in Wheaton Precious Metals by 245.5% in the first quarter. Cornerstone Planning Group LLC now owns 228 shares of the company's stock valued at $29,000 after buying an additional 162 shares in the last quarter. Harvest Fund Management Co. Ltd increased its holdings in Wheaton Precious Metals by 100.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company's stock valued at $27,000 after buying an additional 117 shares in the last quarter. Hollencrest Capital Management raised its position in shares of Wheaton Precious Metals by 73.5% in the first quarter. Hollencrest Capital Management now owns 236 shares of the company's stock worth $31,000 after acquiring an additional 100 shares during the period. Finally, Cary Street Partners Investment Advisory LLC acquired a new position in shares of Wheaton Precious Metals in the fourth quarter worth about $28,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Jefferies Financial Group dropped their target price on 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. Scotiabank reduced their price target on Wheaton Precious Metals from $180.00 to $175.00 and set a "sector outperform" rating for the company in a report on Tuesday, July 14th. UBS Group lowered their price target on Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Berenberg Bank set a $157.00 price objective on Wheaton Precious Metals in a report on Tuesday, July 28th. Finally, Wall Street Zen lowered Wheaton Precious Metals from a "buy" rating to a "hold" rating in a report on Saturday, May 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.com, the company has a consensus rating of "Moderate Buy" and an average target price of $165.55.

Wheaton Precious Metals Stock Up 11.2%

Shares of NYSE WPM opened at $147.56 on Thursday. The company's 50-day simple moving average is $117.60 and its 200-day simple moving average is $130.16. Wheaton Precious Metals Corp. has a 52-week low of $91.65 and a 52-week high of $165.76. The firm has a market cap of $67.02 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.20.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.04. The firm had revenue of $878.00 million during the quarter, compared to the consensus estimate of $879.29 million. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The company's revenue for the quarter was up 84.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 EPS. Equities analysts predict that Wheaton Precious Metals Corp. will post 4.79 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 0.5%. The ex-dividend date is Thursday, August 20th. Wheaton Precious Metals's payout ratio 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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