Wheaton Precious Metals Corp. $WPM Stock: Uncommon Cents Investing Inc Increases Stake

Uncommon Cents Investing Inc lifted its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 60.4% in the third quarter, Holdings Channel.com reports. The fund owned 16,775 shares of the company’s stock after purchasing an additional 6,320 shares during the period. Uncommon Cents Investing Inc’s holdings in Wheaton Precious Metals were worth $2,243,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Stack Financial Management Inc purchased a new position in shares of Wheaton Precious Metals during the second quarter valued at about $30,118,000. Pecaut & CO. bought a new position in Wheaton Precious Metals in the second quarter worth about $1,297,000. Euro Pacific Asset Management LLC raised its stake in 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 worth $37,895,000 after buying an additional 8,455 shares in the last quarter. Groupe la Francaise raised its stake in Wheaton Precious Metals by 9.7% in the second quarter. Groupe la Francaise now owns 305,000 shares of the company’s stock worth $34,324,000 after buying an additional 26,975 shares in the last quarter. Finally, Cidel Asset Management Inc. lifted its holdings in Wheaton Precious Metals by 7,896.4% in the second quarter. Cidel Asset Management Inc. now owns 137,538 shares of the company’s stock worth $15,466,000 after buying an additional 135,818 shares during the period. Institutional investors own 70.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on WPM. Jefferies Financial Group cut their price objective on 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 upgraded Wheaton Precious Metals from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, October 9th. Bank of America decreased their target price on 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. Scotiabank decreased their target price on Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 14th. Finally, Berenberg Bank set a $157.00 target price on Wheaton Precious Metals in a research note on Tuesday, July 28th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $172.11.

Wheaton Precious Metals Stock Performance

Shares of WPM stock opened at $131.07 on Wednesday. Wheaton Precious Metals Corp. has a 12 month low of $92.57 and a 12 month high of $165.76. The stock has a market cap of $59.53 billion, a PE ratio of 29.06, a price-to-earnings-growth ratio of 2.52 and a beta of 0.54. 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 company’s fifty day moving average price is $144.41 and its 200-day moving average price is $131.65.

Wheaton Precious Metals (NYSE:WPM) last released 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. The firm had revenue of $878.00 million for the quarter, compared to the consensus estimate of $879.29 million. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The company’s revenue was up 84.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 EPS. On average, equities analysts expect that Wheaton Precious Metals Corp. will post 4.69 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were given a dividend of $0.1950 per share. This represents a $0.78 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 20th. Wheaton Precious Metals’s dividend payout ratio (DPR) is 17.29%.

Wheaton Precious Metals Profile

Wheaton Precious Metals Corp. is a precious metals streaming company headquartered in Vancouver, British Columbia. Rather than operating mines directly, the company provides upfront financing to mining companies in exchange for the right to purchase a portion of the gold, silver, palladium and cobalt produced by specific mining operations at predetermined prices.

Wheaton sells the streamed metals to customers and uses the proceeds to support its operations and investments. Its portfolio is linked to mining assets operated by third parties, with exposure to projects in the Americas and other regions.