Sigma Planning Corp Invests $1.25 Million in Wheaton Precious Metals Corp. $WPM

Sigma Planning Corp purchased a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the 1st quarter, Holdings Channel reports. The fund purchased 9,574 shares of the company’s stock, valued at approximately $1,254,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of WPM. AQR Capital Management LLC bought a new stake in Wheaton Precious Metals during the 1st quarter valued at $331,000. Focus Partners Wealth increased its stake in shares of Wheaton Precious Metals by 10.7% during the first quarter. Focus Partners Wealth now owns 11,223 shares of the company’s stock valued at $871,000 after buying an additional 1,081 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Wheaton Precious Metals during the first quarter valued at $209,000. Sivia Capital Partners LLC bought a new stake in shares of Wheaton Precious Metals in the second quarter valued at about $239,000. Finally, Rhumbline Advisers raised its holdings in shares of Wheaton Precious Metals by 28.3% in the second quarter. Rhumbline Advisers now owns 2,952 shares of the company’s stock valued at $265,000 after acquiring an additional 652 shares in the last quarter. Institutional investors own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

WPM has been the topic of several recent research reports. Weiss Ratings cut shares of Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday. BMO Capital Markets initiated coverage on shares of Wheaton Precious Metals in a report on Thursday, April 9th. They issued an “outperform” rating and a $240.00 price target for the company. UBS Group lowered their price target on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Royal Bank Of Canada dropped their price objective on shares of 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. Finally, Jefferies Financial Group cut their price objective on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and a consensus price target of $161.09.

Wheaton Precious Metals Stock Performance

NYSE:WPM opened at $104.16 on Friday. The company’s 50-day simple moving average is $120.54 and its 200-day simple moving average is $131.94. Wheaton Precious Metals Corp. has a fifty-two week low of $87.96 and a fifty-two week high of $165.76. The stock has a market capitalization of $47.30 billion, a P/E ratio of 26.30, a P/E/G ratio of 1.86 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, May 7th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.04. The company had revenue of $901.47 million during the quarter, compared to analysts’ expectations of $868.35 million. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. Wheaton Precious Metals’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 company posted $0.55 earnings per share. On average, research analysts forecast that Wheaton Precious Metals Corp. will post 4.8 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were issued a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio 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.