PenderFund Capital Management Ltd. Buys New Holdings in Wheaton Precious Metals Corp. $WPM

PenderFund Capital Management Ltd. bought a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 3,700 shares of the company’s stock, valued at approximately $416,000.

Other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC bought a new position in Wheaton Precious Metals during the first quarter worth about $331,000. Focus Partners Wealth grew its stake in shares of Wheaton Precious Metals by 10.7% in the 1st 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 period. Acadian Asset Management LLC bought a new stake in shares of Wheaton Precious Metals in the 1st quarter valued at approximately $209,000. Sivia Capital Partners LLC bought a new stake in shares of Wheaton Precious Metals in the 2nd quarter valued at approximately $239,000. Finally, Rhumbline Advisers raised its holdings in shares of Wheaton Precious Metals by 28.3% in the 2nd quarter. Rhumbline Advisers now owns 2,952 shares of the company’s stock worth $265,000 after buying an additional 652 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Trading Up 1.4%

WPM opened at $158.26 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $71.88 billion, a PE ratio of 35.09, a PEG ratio of 2.76 and a beta of 0.55. Wheaton Precious Metals Corp. has a 1-year low of $92.57 and a 1-year high of $165.76. The firm has a 50-day moving average price of $121.93 and a two-hundred day moving average price of $131.13.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The company had revenue of $878.00 million during the quarter, compared to the consensus estimate of $879.29 million. During the same period in the previous year, the firm posted $0.63 earnings per share. The company’s revenue was up 84.7% on a year-over-year basis. As a group, equities analysts anticipate that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be issued a $0.195 dividend. The ex-dividend date of this dividend 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%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Royal Bank Of Canada cut their target price on Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Jefferies Financial Group dropped 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. UBS Group dropped their price objective on Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Berenberg Bank set a $157.00 price objective on Wheaton Precious Metals in a report on Tuesday, July 28th. Finally, Weiss Ratings downgraded shares of Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and a consensus 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.