Lombard Odier Asset Management Switzerland SA Buys New Shares in Wheaton Precious Metals Corp. $WPM

Lombard Odier Asset Management Switzerland SA purchased a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,444 shares of the company’s stock, valued at approximately $1,107,000.

A number of other hedge funds also recently bought and sold shares of the stock. AQR Capital Management LLC purchased a new position in Wheaton Precious Metals in the first quarter worth approximately $331,000. Focus Partners Wealth raised its stake in Wheaton Precious Metals by 10.7% in 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 in the last quarter. Acadian Asset Management LLC purchased a new stake in Wheaton Precious Metals during the 1st quarter worth about $209,000. Sivia Capital Partners LLC purchased a new stake in Wheaton Precious Metals during the 2nd quarter worth about $239,000. Finally, Rhumbline Advisers lifted its holdings in Wheaton Precious Metals by 28.3% during the 2nd quarter. Rhumbline Advisers now owns 2,952 shares of the company’s stock worth $265,000 after buying an additional 652 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on WPM shares. BMO Capital Markets assumed coverage on Wheaton Precious Metals in a report on Thursday, April 9th. They issued an “outperform” rating and a $240.00 price target for the company. Jefferies Financial Group cut their target price on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Royal Bank Of Canada reduced their target price on Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. UBS Group decreased their target price on 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. Finally, Scotiabank cut 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 report on Tuesday, July 14th. 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.com, Wheaton Precious Metals has an average rating of “Moderate Buy” and a consensus price target of $161.09.

Wheaton Precious Metals Stock Up 0.4%

Shares of WPM stock opened at $111.91 on Tuesday. The stock’s 50-day moving average price is $117.15 and its 200 day moving average price is $131.63. The stock has a market capitalization of $50.83 billion, a PE ratio of 28.26, a price-to-earnings-growth ratio of 2.01 and a beta of 0.55. Wheaton Precious Metals Corp. has a 52-week low of $90.39 and a 52-week high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.04. The company had revenue of $901.47 million for the quarter, compared to the consensus estimate of $868.35 million. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The company’s revenue was up 91.7% on a year-over-year basis. During the same period last year, the business posted $0.55 EPS. Analysts expect that Wheaton Precious Metals Corp. will post 4.73 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were paid a $0.195 dividend. 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 (DPR) is 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.