Guardian Partners Inc. Boosts Holdings in Wheaton Precious Metals Corp. $WPM

Guardian Partners Inc. boosted its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 80.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,106 shares of the company’s stock after acquiring an additional 6,726 shares during the period. Guardian Partners Inc.’s holdings in Wheaton Precious Metals were worth $1,982,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC purchased a new stake in shares of Wheaton Precious Metals during the 1st quarter worth approximately $331,000. Focus Partners Wealth lifted its stake in Wheaton Precious Metals by 10.7% in the first quarter. Focus Partners Wealth now owns 11,223 shares of the company’s stock valued at $871,000 after purchasing an additional 1,081 shares during the last quarter. Acadian Asset Management LLC bought a new position in Wheaton Precious Metals during the first quarter valued at $209,000. Sivia Capital Partners LLC bought a new position in Wheaton Precious Metals during the second quarter valued at $239,000. Finally, Rhumbline Advisers increased its position in Wheaton Precious Metals by 28.3% in the second quarter. Rhumbline Advisers now owns 2,952 shares of the company’s stock worth $265,000 after buying an additional 652 shares during the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Weiss Ratings lowered Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. BMO Capital Markets started coverage on Wheaton Precious Metals in a research note on Thursday, April 9th. They set an “outperform” rating and a $240.00 price target for the company. Bank of America decreased their price objective on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Royal Bank Of Canada lowered their price objective on Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Finally, Jefferies Financial Group cut their target price on shares of 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. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $165.55.

Wheaton Precious Metals Trading Down 2.3%

Wheaton Precious Metals stock opened at $109.47 on Wednesday. The firm has a 50 day simple moving average of $116.86 and a 200 day simple moving average of $131.53. Wheaton Precious Metals Corp. has a 1-year low of $90.39 and a 1-year high of $165.76. The firm has a market capitalization of $49.72 billion, a price-to-earnings ratio of 27.64, a P/E/G ratio of 2.02 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.04. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The firm had revenue of $901.47 million for the quarter, compared to the consensus estimate of $868.35 million. During the same quarter in the prior year, the business posted $0.55 earnings per share. The business’s quarterly revenue was up 91.7% on a year-over-year basis. On average, equities research analysts forecast that Wheaton Precious Metals Corp. will post 4.73 EPS for the current year.

Wheaton Precious Metals Announces Dividend

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

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.