Euro Pacific Asset Management LLC Raises Stock Position in Wheaton Precious Metals Corp. $WPM

Euro Pacific Asset Management LLC raised its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 3.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 294,402 shares of the company’s stock after purchasing an additional 8,455 shares during the quarter. Wheaton Precious Metals accounts for approximately 3.6% of Euro Pacific Asset Management LLC’s holdings, making the stock its 8th biggest holding. Euro Pacific Asset Management LLC’s holdings in Wheaton Precious Metals were worth $37,895,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of WPM. Assetmark Inc. raised its holdings in shares of Wheaton Precious Metals by 144.4% in the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock worth $26,000 after buying an additional 130 shares during the period. Harvest Fund Management Co. Ltd increased its stake in Wheaton Precious Metals by 100.0% in 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 period. Cary Street Partners Investment Advisory LLC purchased a new stake in Wheaton Precious Metals in the fourth quarter worth $28,000. Cornerstone Planning Group LLC lifted its position in shares of Wheaton Precious Metals by 245.5% during the first quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock worth $29,000 after purchasing an additional 162 shares during the last quarter. Finally, Navalign LLC purchased a new stake in shares of Wheaton Precious Metals during the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Down 0.1%

Shares of WPM stock opened at $104.16 on Friday. The firm has a market cap of $47.30 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 1.86 and a beta of 0.55. Wheaton Precious Metals Corp. has a 52-week low of $87.96 and a 52-week high of $165.76. The company’s 50 day moving average is $120.54 and its 200 day moving average is $131.94.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.04. The business had revenue of $901.47 million for the quarter, compared to analysts’ expectations of $868.35 million. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The business’s revenue for the quarter was up 91.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 EPS. Analysts anticipate that Wheaton Precious Metals Corp. will post 4.8 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were issued a $0.195 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $0.78 dividend on an annualized basis and a yield of 0.7%. Wheaton Precious Metals’s payout ratio is currently 19.70%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. 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 for the company in a report on Thursday, July 9th. Wall Street Zen lowered Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Bank of America dropped their price objective on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” 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 research report on Monday, July 6th. Finally, Scotiabank dropped their price target on Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating on the stock in a research report on Tuesday. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and a consensus target price of $161.09.

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.