PCM Encore LLC Takes $361,000 Position in Wheaton Precious Metals Corp. $WPM

PCM Encore LLC acquired a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 3,214 shares of the company’s stock, valued at approximately $361,000.

Several other hedge funds have also modified their holdings of WPM. Norges Bank purchased a new position in Wheaton Precious Metals during the fourth quarter worth approximately $864,977,000. BlackRock Inc. acquired a new position in shares of Wheaton Precious Metals in the 2nd quarter valued at $581,250,000. Deutsche Bank AG purchased a new stake in shares of Wheaton Precious Metals during the 2nd quarter valued at $310,372,000. Arrowstreet Capital Limited Partnership grew its stake 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 buying an additional 1,715,540 shares during the period. Finally, Van ECK Associates Corp increased its stake in Wheaton Precious Metals by 10.7% during the fourth quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company’s stock worth $1,700,517,000 after acquiring an additional 1,402,092 shares during the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Price Performance

Shares of WPM opened at $157.80 on Friday. The company has a market cap of $71.67 billion, a P/E ratio of 34.99, a PEG ratio of 2.65 and a beta of 0.55. The stock has a fifty day moving average price of $119.19 and a 200 day moving average price of $130.48. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.47 and a quick ratio of 0.47. Wheaton Precious Metals Corp. has a 12 month low of $92.57 and a 12 month high of $165.76.

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

Wheaton Precious Metals Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have commented on WPM shares. Berenberg Bank set a $157.00 price objective on Wheaton Precious Metals in a research report on Tuesday, July 28th. Scotiabank dropped their price objective on Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. Weiss Ratings lowered Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Bank of America decreased their target price on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Finally, Royal Bank Of Canada reduced their price objective on 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. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and an average target price of $165.55.

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.