Wheaton Precious Metals Corp. $WPM Shares Purchased by Quantitative Investment Management LLC

Key Points

• Quantitative Investment Management increased its Wheaton Precious Metals stake by 204.6% in the second quarter, holding 12,730 shares valued at approximately $1.43 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 stock has a Moderate Buy consensus and 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, equivalent to a 0.5% annual yield.

Quantitative Investment Management LLC boosted its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 204.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,730 shares of the company's stock after acquiring an additional 8,551 shares during the period. Quantitative Investment Management LLC's holdings in Wheaton Precious Metals were worth $1,429,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Harvest Fund Management Co. Ltd boosted its stake 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 buying an additional 117 shares during the last quarter. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Wheaton Precious Metals during the 4th quarter worth $28,000. Cornerstone Planning Group LLC boosted its position in shares of Wheaton Precious Metals by 245.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 228 shares of the company's stock valued at $29,000 after acquiring an additional 162 shares during the last quarter. Navalign LLC acquired a new position in shares of Wheaton Precious Metals during the 4th quarter valued at about $30,000. Finally, Hollencrest Capital Management grew its holdings 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 purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 70.34% of the company's stock.

Wall Street Analyst Weigh In

WPM has been the topic of a number of analyst reports. Weiss Ratings downgraded shares of Wheaton Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, July 16th. Wall Street Zen downgraded shares of Wheaton Precious Metals from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Berenberg Bank set a $157.00 price target on shares of Wheaton Precious Metals in a research report on Tuesday, July 28th. UBS Group lowered their price objective on Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Finally, Jefferies Financial Group cut their target price on Wheaton Precious Metals from $182.00 to $177.00 and set a "buy" rating for the company in a research note on Monday, July 6th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $165.55.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock opened at $150.70 on Tuesday. The stock has a market capitalization of $68.44 billion, a price-to-earnings ratio of 33.41, a price-to-earnings-growth ratio of 2.71 and a beta of 0.55. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.47 and a quick ratio of 0.47. The business has a 50-day moving average of $123.12 and a 200 day moving average of $131.25. Wheaton Precious Metals Corp. has a 12 month low of $92.57 and a 12 month high of $165.76.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $879.29 million. During the same period in the prior year, the firm earned $0.63 earnings per share. The business's revenue for the quarter was up 84.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The firm 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 dividend of $0.195 per share. The ex-dividend date is Thursday, August 20th. This represents a $0.78 dividend on an annualized basis and a yield of 0.5%. Wheaton Precious Metals's dividend payout ratio is 17.29%.

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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