Wheaton Precious Metals Corp. $WPM Shares Bought by Thornburg Investment Management Inc.

Key Points

• Thornburg Investment Management increased its Wheaton Precious Metals stake by 215.7% in the second quarter, ending with 15,366 shares valued at approximately $1.73 million. Institutional investors collectively own 70.34% of the company.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and one Hold rating. The consensus rating is “Moderate Buy,” with an average price target of $165.55.
• Wheaton reported quarterly EPS of $1.19, exceeding estimates, while revenue rose 84.7% year over year to $878 million. The company also declared a quarterly dividend of $0.195 per share, or $0.78 annualized.

Thornburg Investment Management Inc. lifted its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 215.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,366 shares of the company's stock after acquiring an additional 10,498 shares during the quarter. Thornburg Investment Management Inc.'s holdings in Wheaton Precious Metals were worth $1,726,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Harvest Fund Management Co. Ltd raised its holdings in Wheaton Precious Metals by 100.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company's stock worth $27,000 after purchasing an additional 117 shares during the last quarter. Cary Street Partners Investment Advisory LLC acquired a new stake in Wheaton Precious Metals in the fourth quarter valued at $28,000. Cornerstone Planning Group LLC grew its holdings in Wheaton Precious Metals by 245.5% in the first quarter. Cornerstone Planning Group LLC now owns 228 shares of the company's stock valued at $29,000 after purchasing an additional 162 shares during the last quarter. Navalign LLC purchased a new position in shares of Wheaton Precious Metals in the fourth quarter valued at $30,000. Finally, Hollencrest Capital Management increased its position in shares of Wheaton Precious Metals by 73.5% in the first quarter. Hollencrest Capital Management now owns 236 shares of the company's stock valued at $31,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company's stock.

Analyst Ratings Changes

WPM has been the topic of several recent research reports. Royal Bank Of Canada decreased their price objective on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an "outperform" rating on the stock in a research report on Thursday, July 9th. Bank of America dropped 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. Berenberg Bank set a $157.00 target price on shares of Wheaton Precious Metals in a research report on Tuesday, July 28th. Wall Street Zen downgraded shares of Wheaton Precious Metals from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Finally, Jefferies Financial Group lowered their price target on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a "buy" rating on the stock in a research report on Monday, July 6th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $165.55.

Wheaton Precious Metals Stock Performance

NYSE WPM opened at $153.48 on Friday. Wheaton Precious Metals Corp. has a fifty-two week low of $92.57 and a fifty-two week high of $165.76. The stock has a market cap of $69.70 billion, a price-to-earnings ratio of 34.03, a price-to-earnings-growth ratio of 2.71 and a beta of 0.55. The business has a fifty day moving average of $122.54 and a 200-day moving average of $131.28. 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 (NYSE:WPM - Get Free Report) last posted 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 business had revenue of $878.00 million for the quarter, compared to analyst estimates of $879.29 million. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%.The business's revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 earnings per share. As a group, analysts predict that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

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

Wheaton Precious Metals 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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