Tocqueville Asset Management L.P. Acquires Shares of 440,382 Wheaton Precious Metals Corp. $WPM

Tocqueville Asset Management L.P. bought a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 440,382 shares of the company’s stock, valued at approximately $49,464,000.

Other large investors have also modified their holdings of the company. Stack Financial Management Inc purchased a new position in Wheaton Precious Metals in the 2nd quarter worth approximately $30,118,000. Euro Pacific Asset Management LLC grew its position in shares of Wheaton Precious Metals by 3.0% in the first quarter. Euro Pacific Asset Management LLC now owns 294,402 shares of the company’s stock valued at $37,895,000 after purchasing an additional 8,455 shares in the last quarter. Abacus Wealth Partners LLC grew its position in shares of Wheaton Precious Metals by 1,402.0% in the fourth quarter. Abacus Wealth Partners LLC now owns 32,023 shares of the company’s stock valued at $3,763,000 after purchasing an additional 29,891 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Wheaton Precious Metals by 489.7% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 74,300 shares of the company’s stock valued at $8,631,000 after purchasing an additional 61,700 shares during the last quarter. Finally, Pecaut & CO. acquired a new position in Wheaton Precious Metals during the second quarter worth $1,297,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock opened at $147.56 on Thursday. The firm has a market cap of $67.02 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.20. Wheaton Precious Metals Corp. has a 52 week low of $91.65 and a 52 week high of $165.76. The business’s fifty day simple moving average is $117.60 and its 200-day simple moving average is $130.16.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.04. The firm had revenue of $878.00 million for the quarter, compared to analyst estimates of $879.29 million. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. Wheaton Precious Metals’s revenue was up 84.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 EPS. Equities analysts forecast that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be given 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 dividend yield of 0.5%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 17.29%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WPM. Berenberg Bank set a $157.00 target price on Wheaton Precious Metals in a report on Tuesday, July 28th. Royal Bank Of Canada lowered their price target on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. UBS Group dropped their price objective on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Scotiabank reduced their target price on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Finally, Bank of America decreased their target price on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $165.55.

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.