Wheaton Precious Metals Corp. $WPM Position Boosted by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its Wheaton Precious Metals stake by 16% in the first quarter to 128,077 shares valued at approximately $16.8 million. Institutional investors collectively own 70.34% of the company.
• Wheaton reported stronger-than-expected quarterly results, with EPS of $1.28 versus the $1.24 consensus and revenue of $901.47 million, up 91.7% year over year. The company also maintains a $0.195 quarterly dividend, yielding about 0.7% annually.
• The stock recently traded at $109.47, down 2.3%, while analysts remain broadly positive: 12 rate it Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average price target of $165.55.

Cetera Investment Advisers grew its holdings in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 16.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 128,077 shares of the company's stock after purchasing an additional 17,647 shares during the period. Cetera Investment Advisers' holdings in Wheaton Precious Metals were worth $16,779,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in WPM. AQR Capital Management LLC purchased a new stake in Wheaton Precious Metals in the 1st quarter worth approximately $331,000. Focus Partners Wealth grew its holdings in shares of Wheaton Precious Metals by 10.7% during the 1st quarter. Focus Partners Wealth now owns 11,223 shares of the company's stock valued at $871,000 after acquiring an additional 1,081 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Wheaton Precious Metals during the 1st quarter valued at $209,000. Sivia Capital Partners LLC acquired a new position in shares of Wheaton Precious Metals in the second quarter worth $239,000. Finally, Rhumbline Advisers increased its stake in shares of Wheaton Precious Metals by 28.3% in the second quarter. Rhumbline Advisers now owns 2,952 shares of the company's stock worth $265,000 after acquiring an additional 652 shares during the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Trading Down 2.3%

Shares of Wheaton Precious Metals stock opened at $109.47 on Wednesday. The firm has a fifty day simple moving average of $116.86 and a 200-day simple moving average of $131.53. Wheaton Precious Metals Corp. has a 1-year low of $90.39 and a 1-year high of $165.76. The stock has a market capitalization of $49.72 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 2.02 and a beta of 0.55.

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

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were given a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 27th. Wheaton Precious Metals's dividend payout ratio (DPR) is currently 19.70%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Scotiabank cut their price objective 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. Royal Bank Of Canada lowered their target price on Wheaton Precious Metals from $165.00 to $160.00 and set an "outperform" rating on the stock in a research note on Thursday, July 9th. Wall Street Zen lowered Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. UBS Group cut their price target on Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. Finally, Bank of America reduced their price target on Wheaton Precious Metals from $163.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $165.55.

Wheaton Precious Metals Company 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.

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