WNY Asset Management LLC Purchases New Holdings in Wheaton Precious Metals Corp. $WPM

WNY Asset Management LLC purchased a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,294 shares of the company’s stock, valued at approximately $819,000.

A number of other hedge funds have also recently added to or reduced their stakes in WPM. Parvin Asset Management LLC raised its holdings in Wheaton Precious Metals by 0.6% in the 4th quarter. Parvin Asset Management LLC now owns 11,925 shares of the company’s stock valued at $1,401,000 after acquiring an additional 75 shares in the last quarter. Johnson Investment Counsel Inc. lifted its position in shares of Wheaton Precious Metals by 0.4% during the 4th quarter. Johnson Investment Counsel Inc. now owns 20,465 shares of the company’s stock valued at $2,405,000 after acquiring an additional 75 shares during the period. Concurrent Investment Advisors LLC grew its holdings in shares of Wheaton Precious Metals by 1.9% during the 4th quarter. Concurrent Investment Advisors LLC now owns 4,203 shares of the company’s stock worth $494,000 after purchasing an additional 78 shares in the last quarter. Gables Capital Management Inc. grew its holdings in shares of Wheaton Precious Metals by 7.9% during the 4th 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 increased its position in shares of 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 during the period. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Trading Up 1.4%

Shares of WPM stock opened at $158.26 on Friday. The stock’s fifty day moving average price is $121.93 and its two-hundred day moving average price is $131.13. The company has a market cap of $71.88 billion, a PE ratio of 35.09, a P/E/G ratio of 2.76 and a beta of 0.55. Wheaton Precious Metals Corp. has a fifty-two week low of $92.57 and a fifty-two week high of $165.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.47 and a current ratio of 0.47.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $878.00 million during the quarter, compared to analysts’ expectations of $879.29 million. During the same quarter in the previous year, the firm earned $0.63 EPS. Wheaton Precious Metals’s revenue was up 84.7% on a year-over-year basis. Equities analysts predict that Wheaton Precious Metals Corp. will post 4.79 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Royal Bank Of Canada dropped their price target 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. Berenberg Bank set a $157.00 price objective on shares of Wheaton Precious Metals in a research note on Tuesday, July 28th. Bank of America decreased their target price 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. Scotiabank dropped their target price 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. Finally, Jefferies Financial Group dropped their target price on shares of 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. Twelve 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.com, the stock presently has an average rating of “Moderate Buy” and an average 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.