Ieq Capital LLC Buys New Position in Wheaton Precious Metals Corp. $WPM

Ieq Capital LLC bought a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) during the second quarter, HoldingsChannel.com reports. The fund bought 12,692 shares of the company’s stock, valued at approximately $1,426,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd raised its position in shares of Wheaton Precious Metals by 100.0% in 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. Cary Street Partners Investment Advisory LLC purchased a new stake in Wheaton Precious Metals in the 4th quarter worth approximately $28,000. Cornerstone Planning Group LLC lifted its stake in shares of Wheaton Precious Metals by 245.5% during 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 during the period. Navalign LLC acquired a new stake in shares of Wheaton Precious Metals during the fourth quarter worth $30,000. Finally, Hollencrest Capital Management boosted its holdings in shares of Wheaton Precious Metals by 73.5% during the first quarter. Hollencrest Capital Management now owns 236 shares of the company’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

Shares of NYSE:WPM opened at $155.75 on Thursday. The business has a 50-day moving average of $121.21 and a two-hundred day moving average of $130.97. The firm has a market capitalization of $70.74 billion, a PE ratio of 34.53, a P/E/G ratio of 2.89 and a beta of 0.55. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.47 and a quick ratio of 0.47. Wheaton Precious Metals Corp. has a 12 month low of $92.57 and a 12 month high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $878.00 million for the quarter, compared to analyst estimates of $879.29 million. During the same period in the previous year, the company posted $0.63 EPS. The company’s revenue was up 84.7% compared to the same quarter last year. As a group, research analysts forecast that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors 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 yield of 0.5%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 17.29%.

Analyst Ratings Changes

Several equities analysts recently weighed in on WPM shares. Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Berenberg Bank set a $157.00 price objective on shares of Wheaton Precious Metals in a report on Tuesday, July 28th. Royal Bank Of Canada lowered their target price on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Bank of America dropped their price target on shares of 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. Finally, Scotiabank decreased their price target on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.