Wheaton Precious Metals Corp. $WPM Holdings Increased by CWA Asset Management Group LLC

Key Points

• CWA Asset Management increased its Wheaton Precious Metals position by 30.2% in the third quarter, holding 161,511 shares valued at approximately $21.6 million. Institutional investors collectively own 70.34% of the company.
• Wheaton reported quarterly earnings of $1.19 per share, beating estimates by $0.04, while revenue rose 84.7% year over year to $878 million. Analysts expect full-year earnings of $4.75 per share.
• The company declared a quarterly dividend of $0.195 per share, equivalent to $0.78 annually and a 0.6% yield. Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $172.11.

CWA Asset Management Group LLC increased its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 30.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 161,511 shares of the company's stock after buying an additional 37,509 shares during the quarter. Wheaton Precious Metals accounts for approximately 0.6% of CWA Asset Management Group LLC's investment portfolio, making the stock its 28th largest position. CWA Asset Management Group LLC's holdings in Wheaton Precious Metals were worth $21,597,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Stack Financial Management Inc bought a new stake in shares of Wheaton Precious Metals in the second quarter worth $30,118,000. Pecaut & CO. acquired a new stake in Wheaton Precious Metals in the second quarter valued at $1,297,000. Euro Pacific Asset Management LLC increased its holdings in Wheaton Precious Metals by 3.0% in the first quarter. Euro Pacific Asset Management LLC now owns 294,402 shares of the company's stock valued at $37,895,000 after purchasing an additional 8,455 shares during the period. Groupe la Francaise increased its holdings in Wheaton Precious Metals by 9.7% in the second quarter. Groupe la Francaise now owns 305,000 shares of the company's stock valued at $34,324,000 after purchasing an additional 26,975 shares during the period. Finally, Cidel Asset Management Inc. raised its position in Wheaton Precious Metals by 7,896.4% during the 2nd quarter. Cidel Asset Management Inc. now owns 137,538 shares of the company's stock worth $15,466,000 after purchasing an additional 135,818 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company's stock.

Wheaton Precious Metals Trading Down 1.6%

NYSE:WPM opened at $132.02 on Tuesday. The firm's fifty day moving average is $144.48 and its 200-day moving average is $131.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.47 and a current ratio of 0.47. Wheaton Precious Metals Corp. has a 52 week low of $92.57 and a 52 week high of $165.76. The firm has a market cap of $59.96 billion, a P/E ratio of 29.27, a P/E/G ratio of 2.53 and a beta of 0.54.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its quarterly earnings data 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. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The company had revenue of $878.00 million during the quarter, compared to analysts' expectations of $879.29 million. During the same period in the prior year, the company posted $0.63 earnings per share. Wheaton Precious Metals's revenue for the quarter was up 84.7% compared to the same quarter last year. Equities analysts expect that Wheaton Precious Metals Corp. will post 4.75 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were issued a dividend of $0.1950 per share. This represents a $0.78 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Thursday, August 20th. Wheaton Precious Metals's dividend payout ratio (DPR) is presently 17.29%.

Analyst Ratings Changes

Several research analysts have commented on the company. Berenberg Bank set a $157.00 target price on Wheaton Precious Metals in a report on Tuesday, July 28th. UBS Group upped their price target on Wheaton Precious Metals from $153.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, October 8th. Weiss Ratings raised Wheaton Precious Metals from a "buy (b)" rating to a "buy (b+)" rating in a research note on Friday, October 9th. Jefferies Financial Group lowered their price objective on Wheaton Precious Metals from $182.00 to $177.00 and set a "buy" rating for the company in a research report on Monday, July 6th. Finally, Scotiabank lowered their price objective on Wheaton Precious Metals from $180.00 to $175.00 and set a "sector outperform" rating for the company in a research report on Tuesday, July 14th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Wheaton Precious Metals currently has an average rating of "Moderate Buy" and an average price target of $172.11.

Wheaton Precious Metals 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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