Fiduciary Financial Advisors Purchases New Shares in Wheaton Precious Metals Corp. $WPM

Fiduciary Financial Advisors acquired a new position in Wheaton Precious Metals Corp. (NYSE:WPM) in the 2nd quarter, HoldingsChannel reports. The fund acquired 8,041 shares of the company’s stock, valued at approximately $903,000.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Wheaton Precious Metals during the 4th quarter worth $864,977,000. BlackRock Inc. bought a new position in Wheaton Precious Metals in the second quarter worth about $581,250,000. Deutsche Bank AG purchased a new stake in Wheaton Precious Metals during the second quarter valued at approximately $310,372,000. Arrowstreet Capital Limited Partnership lifted its holdings 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 during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Wheaton Precious Metals in the second quarter valued at about $189,082,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Trading Up 1.6%

WPM opened at $160.25 on Tuesday. Wheaton Precious Metals Corp. has a 52 week low of $92.57 and a 52 week high of $165.76. The business has a fifty day simple moving average of $119.91 and a 200-day simple moving average of $130.64. The firm has a market cap of $72.78 billion, a P/E ratio of 35.53, a P/E/G ratio of 2.79 and a beta of 0.55. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.20.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.04. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%.The firm had revenue of $878.00 million for the quarter, compared to the consensus estimate of $879.29 million. During the same quarter in the previous year, the business earned $0.63 EPS. The company’s quarterly 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 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be paid a dividend of $0.195 per share. The ex-dividend date is Thursday, August 20th. This represents a $0.78 dividend on an annualized basis and a yield of 0.5%. Wheaton Precious Metals’s dividend payout ratio is 17.29%.

Wall Street Analyst Weigh In

WPM has been the subject of a number of research reports. Jefferies Financial Group lowered their price target 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. Wall Street Zen cut shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. 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 research note on Thursday, July 9th. Weiss Ratings lowered shares of Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Finally, UBS Group lowered their target price on shares of 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. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $165.55.

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.