Greenwich Wealth Management LLC Boosts Stake in Wheaton Precious Metals Corp. $WPM

Greenwich Wealth Management LLC grew its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 70.0% during the fourth quarter, Holdings Channel reports. The fund owned 17,000 shares of the company’s stock after purchasing an additional 7,000 shares during the period. Greenwich Wealth Management LLC’s holdings in Wheaton Precious Metals were worth $1,998,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WPM. AQR Capital Management LLC purchased a new stake in shares of Wheaton Precious Metals in the 1st quarter worth approximately $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 worth $871,000 after buying an additional 1,081 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Wheaton Precious Metals in the 1st quarter worth approximately $209,000. Sivia Capital Partners LLC purchased a new stake in shares of Wheaton Precious Metals in the 2nd quarter worth approximately $239,000. Finally, Rhumbline Advisers grew its stake 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 during the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on WPM. TD Cowen upped their price target on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. TD Securities upped their price target on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Zacks Research downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, UBS Group upgraded Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 price target on the stock in a research note on Friday, March 27th. Thirteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $155.64.

Wheaton Precious Metals Price Performance

NYSE WPM opened at $130.25 on Wednesday. The business’s fifty day moving average price is $133.78 and its 200-day moving average price is $130.99. The stock has a market capitalization of $59.15 billion, a price-to-earnings ratio of 32.89, a PEG ratio of 2.43 and a beta of 0.51. Wheaton Precious Metals Corp. has a 1-year low of $85.59 and a 1-year high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.04. The firm had revenue of $901.47 million for the quarter, compared to analysts’ expectations of $868.35 million. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The company’s revenue was up 91.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 EPS. Equities research analysts anticipate that Wheaton Precious Metals Corp. will post 4.98 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th will be issued a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 19.70%.

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.