Perigon Wealth Management LLC Makes New Investment in Wheaton Precious Metals Corp. $WPM

Perigon Wealth Management LLC acquired a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,328 shares of the company’s stock, valued at approximately $598,000.

A number of other institutional investors and hedge funds also recently modified their holdings of WPM. Trust Co. of Vermont bought a new stake in shares of Wheaton Precious Metals during the 2nd quarter worth $139,000. Principle Wealth Partners LLC acquired a new stake in shares of Wheaton Precious Metals during the second quarter worth $937,000. OneDigital Investment Advisors LLC purchased a new stake in shares of Wheaton Precious Metals during the second quarter valued at $461,000. Plato Investment Management Ltd purchased a new stake in shares of Wheaton Precious Metals during the second quarter valued at $631,000. Finally, J.Safra Asset Management Corp acquired a new position in shares of Wheaton Precious Metals in the 2nd quarter valued at $437,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on WPM shares. Scotiabank dropped their price target on Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. UBS Group reduced their price objective on shares of 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. Royal Bank Of Canada decreased 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. Wall Street Zen downgraded shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Bank of America cut their price target on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $165.55.

Wheaton Precious Metals Trading Up 11.2%

Wheaton Precious Metals stock opened at $147.56 on Thursday. Wheaton Precious Metals Corp. has a 12 month low of $91.65 and a 12 month high of $165.76. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.20. The stock has a market cap of $67.02 billion, a P/E ratio of 32.72, a P/E/G ratio of 2.35 and a beta of 0.55. The company’s fifty day simple moving average is $117.60 and its 200-day simple moving average is $130.16.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.04. The business had revenue of $878.00 million during the quarter, compared to analyst estimates of $879.29 million. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%.Wheaton Precious Metals’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same period last year, the company earned $0.63 earnings per share. As a group, sell-side analysts forecast that Wheaton Precious Metals Corp. will post 4.79 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

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

Wheaton Precious Metals Company 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.