TT International Asset Management LTD Buys New Position in Wheaton Precious Metals Corp. $WPM

Key Points

• TT International Asset Management opened a new Wheaton Precious Metals position, buying 21,180 shares worth approximately $2.83 million in the third quarter; WPM represents 0.3% of its portfolio.
• Institutional ownership remains substantial at 70.34%, with several other funds also adding to or initiating positions during the quarter.
• Wheaton reported quarterly EPS of $1.19, beating estimates of $1.15, while revenue rose 84.7% year over year. Analysts’ consensus rating was “Moderate Buy,” with a $172.11 average price target.

TT International Asset Management LTD bought a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 21,180 shares of the company's stock, valued at approximately $2,832,000. Wheaton Precious Metals accounts for 0.3% of TT International Asset Management LTD's holdings, making the stock its 16th biggest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WPM. McAlvany Wealth Management LLC raised its holdings in Wheaton Precious Metals by 2.4% in the 3rd quarter. McAlvany Wealth Management LLC now owns 31,685 shares of the company's stock worth $4,237,000 after purchasing an additional 752 shares during the period. Leonard Rickey Investment Advisors P.L.L.C. purchased a new position in Wheaton Precious Metals during the third quarter valued at $227,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Wheaton Precious Metals during the third quarter valued at $367,000. Vise Technologies Inc. grew its holdings in Wheaton Precious Metals by 10.7% during the third quarter. Vise Technologies Inc. now owns 16,733 shares of the company's stock valued at $2,238,000 after purchasing an additional 1,616 shares during the period. Finally, Cidel Asset Management Inc. grew its holdings in Wheaton Precious Metals by 31.2% during the third quarter. Cidel Asset Management Inc. now owns 180,415 shares of the company's stock valued at $24,151,000 after purchasing an additional 42,877 shares during the period. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Down 1.5%

Shares of WPM stock opened at $117.41 on Wednesday. The company has a market capitalization of $53.33 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 2.33 and a beta of 0.56. Wheaton Precious Metals Corp. has a one year low of $94.28 and a one year high of $165.76. The company's fifty day moving average price is $140.13 and its 200-day moving average price is $133.79. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.47 and a quick ratio of 0.47.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.15 by $0.04. The company had revenue of $878.00 million for the quarter, compared to analysts' expectations of $879.29 million. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. Wheaton Precious Metals's revenue for the quarter was up 84.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.63 EPS. Sell-side analysts expect that Wheaton Precious Metals Corp. will post 4.57 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were given a $0.1950 dividend. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Thursday, August 20th. Wheaton Precious Metals's payout ratio is presently 17.29%.

Wall Street Analyst Weigh In

A number of analysts have commented on WPM shares. Berenberg Bank set a $157.00 price target on Wheaton Precious Metals in a research report on Tuesday, July 28th. Scotiabank lowered their price objective on Wheaton Precious Metals from $180.00 to $175.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, July 14th. Royal Bank Of Canada lifted their price objective on Wheaton Precious Metals from $160.00 to $165.00 and gave the company an "outperform" rating in a research report on Wednesday, September 16th. UBS Group boosted their price objective on Wheaton Precious Metals from $153.00 to $160.00 and gave the company a "buy" rating in a research note on Thursday, October 8th. Finally, Bank of America reduced their target price on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Wheaton Precious Metals has a consensus rating of "Moderate Buy" and a consensus target price of $172.11.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. is a precious metals streaming company headquartered in Vancouver, British Columbia. Rather than operating mines directly, the company provides upfront financing to mining companies in exchange for the right to purchase a portion of the gold, silver, palladium and cobalt produced by specific mining operations at predetermined prices.

Wheaton sells the streamed metals to customers and uses the proceeds to support its operations and investments. Its portfolio is linked to mining assets operated by third parties, with exposure to projects in the Americas and other regions.

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