Crescent Grove Advisors LLC Boosts Position in Wheaton Precious Metals Corp. $WPM

Crescent Grove Advisors LLC raised its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 356.0% during the first quarter, Holdings Channel reports. The fund owned 20,399 shares of the company’s stock after acquiring an additional 15,926 shares during the period. Crescent Grove Advisors LLC’s holdings in Wheaton Precious Metals were worth $2,676,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Euro Pacific Asset Management LLC increased its position in shares of Wheaton Precious Metals by 3.0% during the 1st 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 during the last quarter. Zhang Financial LLC lifted its stake in shares of Wheaton Precious Metals by 4.9% in the 1st quarter. Zhang Financial LLC now owns 3,215 shares of the company’s stock worth $421,000 after purchasing an additional 151 shares during the period. Cornerstone Planning Group LLC boosted its holdings in shares of Wheaton Precious Metals by 245.5% in the first quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock worth $29,000 after buying an additional 162 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Wheaton Precious Metals by 11,599.1% in the first quarter. Assetmark Inc. now owns 25,738 shares of the company’s stock worth $3,372,000 after buying an additional 25,518 shares during the last quarter. Finally, Angeles Wealth Management LLC purchased a new position in shares of Wheaton Precious Metals in the first quarter worth approximately $249,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Trading Down 0.1%

Shares of NYSE:WPM opened at $104.16 on Friday. The stock has a 50 day moving average of $120.54 and a 200 day moving average of $131.94. The company has a market cap of $47.30 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 1.85 and a beta of 0.55. Wheaton Precious Metals Corp. has a 12-month low of $87.96 and a 12-month high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, May 7th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The company had revenue of $901.47 million for the quarter, compared to analysts’ expectations of $868.35 million. During the same quarter last year, the business earned $0.55 EPS. The firm’s revenue was up 91.7% compared to the same quarter last year. Equities research analysts predict that Wheaton Precious Metals Corp. will post 4.82 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on WPM shares. Bank of America cut their target price on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. UBS Group dropped their price target on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Wall Street Zen downgraded shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Jefferies Financial Group reduced their price objective 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. Finally, BMO Capital Markets started coverage on Wheaton Precious Metals in a report on Thursday, April 9th. They issued an “outperform” rating and a $240.00 target price on the stock. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.