Wheaton Precious Metals Corp. $WPM Shares Purchased by Abacus Wealth Partners LLC

Key Points

• Abacus Wealth Partners LLC sharply increased its stake in Wheaton Precious Metals in the fourth quarter, boosting holdings by 1,402% to 32,023 shares valued at about $3.76 million.
• Wheaton Precious Metals reported strong quarterly results, with EPS of $1.28 and revenue of $901.47 million, both above analyst estimates and up sharply from a year ago.
• The company also announced a quarterly dividend of $0.195 per share, and Wall Street remains largely bullish with 13 Buy ratings and an average price target of $155.64.

Abacus Wealth Partners LLC increased its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 1,402.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,023 shares of the company's stock after purchasing an additional 29,891 shares during the quarter. Wheaton Precious Metals accounts for approximately 0.4% of Abacus Wealth Partners LLC's portfolio, making the stock its 24th biggest position. Abacus Wealth Partners LLC's holdings in Wheaton Precious Metals were worth $3,763,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TD Waterhouse Canada Inc. boosted its stake in shares of Wheaton Precious Metals by 9.4% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 809,093 shares of the company's stock valued at $89,886,000 after buying an additional 69,496 shares during the period. J. Safra Sarasin Holding AG boosted its stake in shares of Wheaton Precious Metals by 38.5% in the 3rd quarter. J. Safra Sarasin Holding AG now owns 68,485 shares of the company's stock valued at $7,659,000 after buying an additional 19,050 shares during the period. Varma Mutual Pension Insurance Co boosted its stake in shares of Wheaton Precious Metals by 8.5% in the 3rd quarter. Varma Mutual Pension Insurance Co now owns 207,358 shares of the company's stock valued at $23,210,000 after buying an additional 16,300 shares during the period. TD Asset Management Inc boosted its stake in shares of Wheaton Precious Metals by 3.5% in the 3rd quarter. TD Asset Management Inc now owns 7,252,054 shares of the company's stock valued at $811,726,000 after buying an additional 244,027 shares during the period. Finally, Mediolanum International Funds Ltd boosted its stake in shares of Wheaton Precious Metals by 35.6% in the 3rd quarter. Mediolanum International Funds Ltd now owns 72,970 shares of the company's stock valued at $8,063,000 after buying an additional 19,159 shares during the period. 70.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WPM. BMO Capital Markets initiated coverage on Wheaton Precious Metals in a research note on Thursday, April 9th. They issued an "outperform" rating and a $240.00 price objective for the company. Scotiabank boosted their target price on Wheaton Precious Metals from $178.00 to $180.00 and gave the stock an "outperform" rating in a research note on Thursday. Zacks Research cut Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 5th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Wednesday, February 4th. Finally, TD Securities boosted their target price on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a "buy" rating in a research note on Monday, March 16th. Thirteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Wheaton Precious Metals currently has an average rating of "Moderate Buy" and an average price target of $155.64.

Wheaton Precious Metals Stock Down 6.4%

WPM stock opened at $130.37 on Friday. The stock has a market cap of $59.20 billion, a price-to-earnings ratio of 32.92, a PEG ratio of 2.52 and a beta of 0.50. Wheaton Precious Metals Corp. has a fifty-two week low of $76.77 and a fifty-two week high of $165.76. The business has a 50 day moving average price of $136.66 and a 200 day moving average price of $128.39.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.24 by $0.04. The company had revenue of $901.47 million for the quarter, compared to analyst estimates of $868.35 million. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The firm's revenue was up 91.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 earnings per share. As a group, sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 4.87 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th will be given a dividend of $0.195 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $0.78 annualized dividend and a yield of 0.6%. Wheaton Precious Metals's payout ratio is 19.70%.

About Wheaton Precious Metals

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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