Pecaut & CO. Makes New $1.30 Million Investment in Wheaton Precious Metals Corp. $WPM

Pecaut & CO. acquired a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,550 shares of the company’s stock, valued at approximately $1,297,000.

Other hedge funds have also recently made changes to their positions in the company. LBP AM SA raised its stake in shares of Wheaton Precious Metals by 632.2% in the fourth quarter. LBP AM SA now owns 119,855 shares of the company’s stock worth $14,085,000 after purchasing an additional 103,485 shares during the last quarter. Euro Pacific Asset Management LLC lifted its holdings in shares of Wheaton Precious Metals by 3.0% during the first quarter. Euro Pacific Asset Management LLC now owns 294,402 shares of the company’s stock worth $37,895,000 after purchasing an additional 8,455 shares during the period. Abacus Wealth Partners LLC boosted its position in Wheaton Precious Metals by 1,402.0% in the fourth quarter. Abacus Wealth Partners LLC now owns 32,023 shares of the company’s stock valued at $3,763,000 after buying an additional 29,891 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in Wheaton Precious Metals by 489.7% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 74,300 shares of the company’s stock valued at $8,631,000 after buying an additional 61,700 shares during the last quarter. Finally, Intact Investment Management Inc. increased its holdings in Wheaton Precious Metals by 627.2% in the 4th quarter. Intact Investment Management Inc. now owns 127,980 shares of the company’s stock worth $15,045,000 after buying an additional 110,380 shares during the period. 70.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Scotiabank reduced their price target on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 14th. Wall Street Zen lowered shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Royal Bank Of Canada reduced 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. Weiss Ratings downgraded shares of Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Finally, Bank of America lowered 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 investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and a consensus target price of $165.55.

Wheaton Precious Metals Stock Up 1.8%

Shares of WPM stock opened at $134.25 on Friday. Wheaton Precious Metals Corp. has a twelve month low of $90.94 and a twelve month high of $165.76. The stock has a market cap of $60.97 billion, a P/E ratio of 29.77, a P/E/G ratio of 2.33 and a beta of 0.55. The stock has a 50 day moving average of $115.96 and a 200 day moving average of $130.57. The company has a current ratio of 0.47, a quick ratio of 4.53 and a debt-to-equity ratio of 0.20.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.15 by $0.04. The business had revenue of $878.00 million for 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%.The business’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 EPS. As a group, sell-side analysts expect that Wheaton Precious Metals Corp. will post 4.79 EPS for the current 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. This represents a $0.78 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, August 20th. Wheaton Precious Metals’s payout ratio is currently 17.29%.

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.