Perigon Wealth Management LLC Acquires New Holdings in Wheaton Precious Metals Corp. $WPM

Perigon Wealth Management LLC bought a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) in the second quarter, Holdings Channel.com reports. The institutional investor bought 5,328 shares of the company’s stock, valued at approximately $598,000.

Several other large investors also recently added to or reduced their stakes in WPM. Parvin Asset Management LLC increased its stake in shares of Wheaton Precious Metals by 0.6% during the 4th quarter. Parvin Asset Management LLC now owns 11,925 shares of the company’s stock worth $1,401,000 after purchasing an additional 75 shares during the last quarter. Johnson Investment Counsel Inc. lifted its stake in shares of Wheaton Precious Metals by 0.4% in the 4th quarter. Johnson Investment Counsel Inc. now owns 20,465 shares of the company’s stock valued at $2,405,000 after purchasing an additional 75 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in shares of Wheaton Precious Metals by 1.9% in the 4th quarter. Concurrent Investment Advisors LLC now owns 4,203 shares of the company’s stock valued at $494,000 after purchasing an additional 78 shares during the last quarter. Gables Capital Management Inc. boosted its holdings in Wheaton Precious Metals by 7.9% in the fourth quarter. Gables Capital Management Inc. now owns 1,079 shares of the company’s stock worth $127,000 after purchasing an additional 79 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in Wheaton Precious Metals by 0.3% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 27,105 shares of the company’s stock worth $3,185,000 after purchasing an additional 86 shares in the last quarter. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Trading Up 11.2%

Shares of Wheaton Precious Metals stock opened at $147.56 on Thursday. Wheaton Precious Metals Corp. has a 1 year low of $91.65 and a 1 year high of $165.76. The company’s fifty day simple moving average is $117.60 and its 200-day simple moving average is $130.16. The company has a market cap of $67.02 billion, a price-to-earnings ratio of 32.72, a PEG ratio of 2.35 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 released its earnings results on Thursday, August 6th. The company reported $1.19 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $878.00 million during the quarter, compared to analysts’ expectations of $879.29 million. During the same period in the prior year, the company earned $0.63 EPS. The business’s quarterly revenue was up 84.7% compared to the same quarter last year. 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be issued a dividend of $0.195 per share. The ex-dividend date is Thursday, August 20th. This represents a $0.78 annualized dividend and a dividend yield of 0.5%. Wheaton Precious Metals’s payout ratio is presently 17.29%.

Analysts Set New Price Targets

WPM has been the topic of several analyst reports. Royal Bank Of Canada lowered their target price on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note 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 report on Tuesday, July 14th. UBS Group cut their price objective on Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Finally, Berenberg Bank set a $157.00 target price on Wheaton Precious Metals in a report on Tuesday, July 28th. 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.