Townsquare Capital LLC Purchases New Holdings in Wheaton Precious Metals Corp. $WPM

Key Points

• Townsquare Capital LLC has acquired 3,395 shares of Wheaton Precious Metals Corp., valued at approximately $264,000, during the first quarter, marking a new investment in the precious metals sector.
• Institutional investors now own 70.34% of Wheaton Precious Metals, with notable increases in holdings by firms like Vanguard Group and Royal Bank of Canada in the most recent quarters.
• The company reported a 68.2% increase in revenue year-over-year for the last quarter, with an earnings per share of $0.63, exceeding estimates by $0.05.

Townsquare Capital LLC bought a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 3,395 shares of the company's stock, valued at approximately $264,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Wheaton Precious Metals by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 17,996,858 shares of the company's stock worth $1,396,556,000 after purchasing an additional 324,340 shares during the period. Royal Bank of Canada increased its position in Wheaton Precious Metals by 5.0% during the 4th quarter. Royal Bank of Canada now owns 9,424,930 shares of the company's stock worth $530,057,000 after purchasing an additional 447,702 shares during the period. TD Asset Management Inc increased its position in Wheaton Precious Metals by 5.0% during the 1st quarter. TD Asset Management Inc now owns 7,512,351 shares of the company's stock worth $582,876,000 after purchasing an additional 355,533 shares during the period. The Manufacturers Life Insurance Company increased its position in Wheaton Precious Metals by 4.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,593,707 shares of the company's stock worth $202,459,000 after purchasing an additional 137,477 shares during the period. Finally, Mackenzie Financial Corp increased its position in Wheaton Precious Metals by 54.4% during the 4th quarter. Mackenzie Financial Corp now owns 3,223,154 shares of the company's stock worth $181,227,000 after purchasing an additional 1,135,699 shares during the period. Institutional investors and hedge funds own 70.34% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WPM. Royal Bank Of Canada boosted their target price on Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Berenberg Bank boosted their price target on Wheaton Precious Metals from $87.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. CIBC reissued an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, July 15th. Scotiabank boosted their price target on Wheaton Precious Metals from $108.00 to $109.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 12th. Finally, National Bankshares reissued an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $97.33.

Wheaton Precious Metals Stock Performance

Wheaton Precious Metals stock opened at $91.0530 on Wednesday. The stock has a fifty day moving average of $92.10 and a two-hundred day moving average of $82.43. The company has a market capitalization of $41.33 billion, a price-to-earnings ratio of 52.63, a PEG ratio of 2.60 and a beta of 0.39. Wheaton Precious Metals Corp. has a fifty-two week low of $55.47 and a fifty-two week high of $103.81.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. The company had revenue of $503.22 million during the quarter, compared to the consensus estimate 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 revenue was up 68.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 earnings per share. On average, analysts forecast that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

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

About Wheaton Precious Metals

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.

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