Jupiter Topco LLC Purchases New Holdings in Wheaton Precious Metals Corp. $WPM

Jupiter Topco LLC acquired a new position in Wheaton Precious Metals Corp. (NYSE:WPM) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 163,919 shares of the company’s stock, valued at approximately $18,415,000.

A number of other hedge funds also recently modified their holdings of the business. Harvest Fund Management Co. Ltd grew its holdings in shares of Wheaton Precious Metals by 100.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after buying an additional 117 shares in the last quarter. Cary Street Partners Investment Advisory LLC purchased a new stake in Wheaton Precious Metals in the 4th quarter worth about $28,000. Cornerstone Planning Group LLC boosted its position in Wheaton Precious Metals by 245.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock worth $29,000 after acquiring an additional 162 shares during the period. Navalign LLC acquired a new stake in Wheaton Precious Metals during the 4th quarter worth about $30,000. Finally, Hollencrest Capital Management grew its stake in Wheaton Precious Metals by 73.5% during the 1st quarter. Hollencrest Capital Management now owns 236 shares of the company’s stock valued at $31,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Bank of America dropped their target price on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Jefferies Financial Group lowered their price objective 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. Weiss Ratings lowered shares of Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. UBS Group cut their target price on shares of 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, Berenberg Bank set a $157.00 target price on shares of Wheaton Precious Metals in a research note on Tuesday, July 28th. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Wheaton Precious Metals has an average rating of “Moderate Buy” and a consensus price target of $165.55.

Wheaton Precious Metals Stock Down 2.9%

WPM opened at $153.48 on Friday. The company has a market capitalization of $69.70 billion, a PE ratio of 34.03, 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. Wheaton Precious Metals Corp. has a fifty-two week low of $92.57 and a fifty-two week high of $165.76. The business has a 50-day moving average of $122.54 and a 200-day moving average of $131.28.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.15 by $0.04. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%.The business had revenue of $878.00 million during the quarter, compared to analysts’ expectations of $879.29 million. During the same quarter in the previous year, the business posted $0.63 EPS. The firm’s quarterly revenue was up 84.7% compared to the same quarter last year. Equities research analysts forecast that Wheaton Precious Metals Corp. will post 4.79 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

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 paid a $0.195 dividend. 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 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.