Van ECK Associates Corp Increases Stake in Wheaton Precious Metals Corp. $WPM

Van ECK Associates Corp grew its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 0.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,411,000 shares of the company’s stock after purchasing an additional 78,618 shares during the quarter. Wheaton Precious Metals comprises approximately 1.0% of Van ECK Associates Corp’s portfolio, making the stock its 17th biggest holding. Van ECK Associates Corp owned 3.17% of Wheaton Precious Metals worth $1,619,480,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Cornerstone Planning Group LLC lifted its stake in 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 purchasing an additional 162 shares during the last quarter. Harvest Fund Management Co. Ltd grew its stake in shares of Wheaton Precious Metals by 100.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after buying an additional 117 shares during the last quarter. Hollencrest Capital Management increased its holdings in shares of Wheaton Precious Metals by 73.5% in the first quarter. Hollencrest Capital Management now owns 236 shares of the company’s stock worth $31,000 after buying an additional 100 shares during the period. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Wheaton Precious Metals in the fourth quarter worth about $28,000. Finally, Navalign LLC bought a new stake in shares of Wheaton Precious Metals in the 4th quarter valued at about $30,000. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

WPM stock opened at $153.48 on Friday. The stock’s 50 day simple moving average is $122.54 and its 200 day simple moving average is $131.28. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.20. 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 capitalization of $69.70 billion, a PE ratio of 34.03, a price-to-earnings-growth ratio of 2.79 and a beta of 0.55.

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

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, August 20th. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 17.29%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Berenberg Bank set a $157.00 price objective on shares of Wheaton Precious Metals in a report on Tuesday, July 28th. Scotiabank dropped their price target on Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 14th. Bank of America cut their price target on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. UBS Group reduced their price objective on Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Finally, Jefferies Financial Group lowered 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. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and a consensus price target of $165.55.

Wheaton Precious Metals Company 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.