Wheaton Precious Metals Corp. $WPM Shares Bought by Sequoia Financial Advisors LLC

Key Points

• Sequoia Financial Advisors nearly doubled its Wheaton Precious Metals stake in the second quarter, increasing holdings by 98.5% to 22,204 shares valued at approximately $2.49 million. Institutional investors collectively own 70.34% of the company.
• Analysts remain broadly bullish, with 11 Buy ratings and one Hold rating. Despite several price-target reductions, Wheaton has an average rating of “Moderate Buy” and a consensus price target of $165.55.
• Wheaton reported quarterly EPS of $1.19, beating estimates by $0.04, while revenue reached $878 million and rose 84.7% year over year. The company also declared a quarterly dividend of $0.195, equivalent to a 0.5% annualized yield.

Sequoia Financial Advisors LLC grew its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 98.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,204 shares of the company's stock after purchasing an additional 11,016 shares during the period. Sequoia Financial Advisors LLC's holdings in Wheaton Precious Metals were worth $2,494,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in WPM. Cidel Asset Management Inc. boosted its stake in shares of Wheaton Precious Metals by 7,896.4% in the second quarter. Cidel Asset Management Inc. now owns 137,538 shares of the company's stock valued at $15,466,000 after purchasing an additional 135,818 shares during the period. NorthRock Partners LLC lifted its holdings in Wheaton Precious Metals by 158.6% during the 2nd quarter. NorthRock Partners LLC now owns 4,106 shares of the company's stock worth $461,000 after buying an additional 2,518 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in Wheaton Precious Metals by 0.3% during the 2nd quarter. Baird Financial Group Inc. now owns 54,266 shares of the company's stock worth $6,095,000 after buying an additional 137 shares in the last quarter. Allworth Financial LP lifted its holdings in Wheaton Precious Metals by 3.9% during the 2nd quarter. Allworth Financial LP now owns 6,972 shares of the company's stock worth $783,000 after buying an additional 260 shares in the last quarter. Finally, Waverly Advisors LLC boosted its position in Wheaton Precious Metals by 188.8% in the 2nd quarter. Waverly Advisors LLC now owns 9,161 shares of the company's stock valued at $1,029,000 after buying an additional 5,989 shares during the period. Institutional investors and hedge funds own 70.34% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Bank of America dropped their price target on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Royal Bank Of Canada reduced their price objective 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. Jefferies Financial Group decreased their target price on Wheaton Precious Metals from $182.00 to $177.00 and set a "buy" rating for the company in a report on Monday, July 6th. Weiss Ratings cut Wheaton Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, July 16th. Finally, Scotiabank cut their price target on Wheaton Precious Metals from $180.00 to $175.00 and set a "sector outperform" rating on the stock in a report on Tuesday, July 14th. Eleven 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, Wheaton Precious Metals has an average rating of "Moderate Buy" and an average price target of $165.55.

Wheaton Precious Metals Stock Down 0.0%

Shares of Wheaton Precious Metals stock opened at $154.09 on Monday. 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 Corp. has a 52-week low of $92.57 and a 52-week high of $165.76. The company has a market capitalization of $69.98 billion, a P/E ratio of 34.17, a P/E/G ratio of 2.72 and a beta of 0.60. The company has a 50 day moving average of $130.29 and a 200 day moving average of $131.67.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.19 EPS 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 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 quarterly revenue was up 84.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 EPS. As a group, research analysts forecast that Wheaton Precious Metals Corp. will post 4.79 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were issued a $0.195 dividend. This represents a $0.78 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, August 20th. Wheaton Precious Metals's dividend payout ratio is 17.29%.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. NYSE: WPM 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 future production from specific mining projects at predetermined prices.

Wheaton's streaming portfolio is primarily focused on gold and silver, with additional exposure to palladium and cobalt through certain agreements.

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