Wheaton Precious Metals Corp. Announces Quarterly Dividend of C$0.20 (NYSE:WPM)

Wheaton Precious Metals Corp. (NYSE:WPM) declared a quarterly dividend on Thursday, May 7th. Stockholders of record on Wednesday, May 27th will be paid a dividend of 0.195 per share on Tuesday, June 9th. This represents a c) dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, May 27th.

Wheaton Precious Metals has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 2 years. Wheaton Precious Metals has a payout ratio of 34.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Wheaton Precious Metals to earn $4.77 per share next year, which means the company should continue to be able to cover its $0.78 annual dividend with an expected future payout ratio of 16.4%.

Wheaton Precious Metals Stock Up 2.9%

Shares of WPM stock traded up $3.87 during trading hours on Friday, reaching $135.43. 478,089 shares of the company’s stock were exchanged, compared to its average volume of 2,438,238. Wheaton Precious Metals has a fifty-two week low of $75.42 and a fifty-two week high of $165.76. The stock has a market capitalization of $61.50 billion, a P/E ratio of 41.69, a P/E/G ratio of 2.59 and a beta of 0.50. The business has a fifty day moving average price of $138.97 and a 200-day moving average price of $126.88.

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. Wheaton Precious Metals had a return on equity of 17.17% and a net margin of 63.58%.The company had revenue of $901.47 million during the quarter, compared to analyst estimates of $868.35 million. During the same period in the previous year, the company earned $0.55 earnings per share. The company’s quarterly revenue was up 91.7% compared to the same quarter last year. As a group, research analysts expect that Wheaton Precious Metals will post 4.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Wheaton Precious Metals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Assetmark Inc. lifted its holdings in shares of 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 position 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 buying an additional 162 shares during the period. Nisa Investment Advisors LLC acquired a new stake in Wheaton Precious Metals in the 3rd quarter valued at $26,000. Harvest Fund Management Co. Ltd boosted its stake 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 buying an additional 117 shares in the last quarter. Finally, Hollencrest Capital Management boosted its stake 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 buying an additional 100 shares in the last quarter. 70.34% of the stock is owned by institutional investors.

About Wheaton Precious Metals

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.