PenderFund Capital Management Ltd. Buys Shares of 3,700 Wheaton Precious Metals Corp. $WPM

PenderFund Capital Management Ltd. bought a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,700 shares of the company’s stock, valued at approximately $416,000.

A number of other hedge funds have also made changes to their positions in WPM. Vanguard Group Inc. increased its stake in Wheaton Precious Metals by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 19,079,029 shares of the company’s stock valued at $2,242,969,000 after buying an additional 289,939 shares during the period. Van ECK Associates Corp boosted its stake in shares of Wheaton Precious Metals by 10.7% during the 4th quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company’s stock valued at $1,700,517,000 after buying an additional 1,402,092 shares during the period. Capital International Investors boosted its stake in shares of Wheaton Precious Metals by 1.2% during the 4th quarter. Capital International Investors now owns 7,595,725 shares of the company’s stock valued at $892,650,000 after buying an additional 93,599 shares during the period. Norges Bank purchased a new position in shares of Wheaton Precious Metals during the 4th quarter valued at $864,977,000. Finally, TD Asset Management Inc grew its holdings in shares of Wheaton Precious Metals by 0.5% during the 4th quarter. TD Asset Management Inc now owns 7,285,275 shares of the company’s stock valued at $857,598,000 after acquiring an additional 33,221 shares in the last quarter. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

Shares of NYSE WPM opened at $158.26 on Friday. The business’s 50-day simple moving average is $121.93 and its 200-day simple moving average is $131.13. 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 firm has a market cap of $71.88 billion, a price-to-earnings ratio of 35.09, a P/E/G ratio of 2.76 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 EPS 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 company had revenue of $878.00 million for the quarter, compared to the consensus estimate of $879.29 million. During the same quarter last year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was up 84.7% compared to the same quarter last year. As a group, equities research analysts expect that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

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

Analyst Upgrades and Downgrades

WPM has been the subject of several recent research reports. Berenberg Bank set a $157.00 price objective on Wheaton Precious Metals in a report on Tuesday, July 28th. Bank of America reduced their price objective on 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. Royal Bank Of Canada lowered 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. Wall Street Zen lowered Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings downgraded Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus 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.