Guardian Partners Inc. Buys 6,726 Shares of Wheaton Precious Metals Corp. $WPM

Guardian Partners Inc. increased its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 80.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,106 shares of the company’s stock after acquiring an additional 6,726 shares during the quarter. Guardian Partners Inc.’s holdings in Wheaton Precious Metals were worth $1,982,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of WPM. Assetmark Inc. increased its holdings in Wheaton Precious Metals by 144.4% during the 4th quarter. Assetmark Inc. now owns 220 shares of the company’s stock worth $26,000 after acquiring an additional 130 shares during the period. Cornerstone Planning Group LLC lifted its stake in Wheaton Precious Metals by 245.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock worth $29,000 after purchasing an additional 162 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its holdings in Wheaton Precious Metals by 100.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after purchasing an additional 117 shares during the period. Hollencrest Capital Management boosted its holdings in Wheaton Precious Metals by 73.5% in the 1st quarter. Hollencrest Capital Management now owns 236 shares of the company’s stock valued at $31,000 after purchasing an additional 100 shares during the period. Finally, Cary Street Partners Investment Advisory LLC purchased a new position in shares of Wheaton Precious Metals during the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

WPM stock opened at $109.47 on Wednesday. Wheaton Precious Metals Corp. has a one year low of $90.39 and a one year high of $165.76. The stock has a market cap of $49.72 billion, a PE ratio of 27.64, a P/E/G ratio of 2.02 and a beta of 0.55. The firm has a 50 day simple moving average of $116.86 and a two-hundred day simple moving average of $131.53.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. The firm had revenue of $901.47 million for the quarter, compared to analyst estimates of $868.35 million. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The business’s revenue for the quarter was up 91.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.55 EPS. On average, research analysts expect that Wheaton Precious Metals Corp. will post 4.73 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were given a $0.195 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $0.78 annualized dividend and a yield of 0.7%. Wheaton Precious Metals’s payout ratio is 19.70%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Berenberg Bank set a $157.00 price target on shares of Wheaton Precious Metals in a report on Tuesday. 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. Weiss Ratings cut Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Jefferies Financial Group decreased their target price on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Finally, BMO Capital Markets assumed coverage on Wheaton Precious Metals in a report on Thursday, April 9th. They issued an “outperform” rating and a $240.00 price target on the stock. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.