Fiduciary Financial Advisors Buys New Position in Wheaton Precious Metals Corp. $WPM

Fiduciary Financial Advisors bought a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,041 shares of the company’s stock, valued at approximately $903,000.

Several other large investors also recently modified their holdings of WPM. Norges Bank acquired a new position in Wheaton Precious Metals in the fourth quarter valued at $864,977,000. BlackRock Inc. acquired a new position in shares of Wheaton Precious Metals in the 2nd quarter valued at about $581,250,000. Deutsche Bank AG bought a new stake in shares of Wheaton Precious Metals during the 2nd quarter valued at about $310,372,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Wheaton Precious Metals by 40.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,912,588 shares of the company’s stock valued at $694,951,000 after purchasing an additional 1,715,540 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Wheaton Precious Metals during the second quarter worth approximately $189,082,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on WPM. Jefferies Financial Group decreased their target price on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Bank of America dropped their target price on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Wall Street Zen lowered shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Scotiabank lowered their price objective 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. Finally, Royal Bank Of Canada cut their target price on Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and a consensus target price of $165.55.

Wheaton Precious Metals Stock Performance

Shares of WPM stock opened at $160.25 on Tuesday. Wheaton Precious Metals Corp. has a 12 month low of $92.57 and a 12 month high of $165.76. The company’s fifty day moving average price is $119.91 and its 200-day moving average price is $130.64. The stock has a market cap of $72.78 billion, a PE ratio of 35.53, a price-to-earnings-growth ratio of 2.79 and a beta of 0.55. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.20.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The company had revenue of $878.00 million for the quarter, compared to analysts’ expectations of $879.29 million. During the same quarter in the previous year, the business posted $0.63 EPS. Wheaton Precious Metals’s revenue was up 84.7% compared to the same quarter last year. On average, equities analysts expect that Wheaton Precious Metals Corp. will post 4.8 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.195 per share. 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 payout ratio is currently 17.29%.

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.