Manatuck Hill Partners LLC Invests $899,000 in Wheaton Precious Metals Corp. $WPM

Manatuck Hill Partners LLC acquired a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,000 shares of the company’s stock, valued at approximately $899,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WPM. Parvin Asset Management LLC boosted its position in shares of Wheaton Precious Metals by 0.6% during the 4th quarter. Parvin Asset Management LLC now owns 11,925 shares of the company’s stock valued at $1,401,000 after acquiring an additional 75 shares during the last quarter. Johnson Investment Counsel Inc. grew its holdings in shares of Wheaton Precious Metals by 0.4% during the fourth quarter. Johnson Investment Counsel Inc. now owns 20,465 shares of the company’s stock worth $2,405,000 after purchasing an additional 75 shares in the last quarter. Concurrent Investment Advisors LLC raised its stake in Wheaton Precious Metals by 1.9% in the fourth quarter. Concurrent Investment Advisors LLC now owns 4,203 shares of the company’s stock valued at $494,000 after purchasing an additional 78 shares in the last quarter. Gables Capital Management Inc. raised its stake in Wheaton Precious Metals by 7.9% in the fourth quarter. Gables Capital Management Inc. now owns 1,079 shares of the company’s stock valued at $127,000 after purchasing an additional 79 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in Wheaton Precious Metals by 0.3% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 27,105 shares of the company’s stock valued at $3,185,000 after purchasing an additional 86 shares during the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Price Performance

Shares of Wheaton Precious Metals stock opened at $163.66 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.47 and a current ratio of 0.47. Wheaton Precious Metals Corp. has a 52-week low of $92.57 and a 52-week high of $165.76. The company has a fifty day moving average of $120.62 and a 200-day moving average of $130.80. The stock has a market capitalization of $74.33 billion, a price-to-earnings ratio of 36.29, a price-to-earnings-growth ratio of 2.83 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, August 6th. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The company had revenue of $878.00 million for the quarter, compared to analysts’ expectations of $879.29 million. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The firm’s revenue was up 84.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 EPS. Equities research analysts expect that Wheaton Precious Metals Corp. will post 4.79 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be issued a $0.195 dividend. The ex-dividend date is Thursday, August 20th. This represents a $0.78 annualized dividend and a dividend yield of 0.5%. Wheaton Precious Metals’s payout ratio is currently 17.29%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Berenberg Bank set a $157.00 price target on shares of Wheaton Precious Metals in a report on Tuesday, July 28th. Royal Bank Of Canada reduced their target price 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. Bank of America lowered their price target on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Wall Street Zen cut Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Weiss Ratings lowered Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $165.55.

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.