Ninepoint Partners LP Invests $11.29 Million in Wheaton Precious Metals Corp. $WPM

Ninepoint Partners LP bought a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 100,557 shares of the company’s stock, valued at approximately $11,295,000. Wheaton Precious Metals accounts for 0.9% of Ninepoint Partners LP’s portfolio, making the stock its 18th biggest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Advisors Capital Management LLC bought a new position in Wheaton Precious Metals during the 2nd quarter worth approximately $754,000. PCM Encore LLC bought a new stake in Wheaton Precious Metals in the second quarter valued at approximately $361,000. Vise Technologies Inc. purchased a new stake in shares of Wheaton Precious Metals during the second quarter valued at approximately $1,698,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Wheaton Precious Metals during the second quarter valued at approximately $10,239,000. Finally, Tocqueville Asset Management L.P. bought a new position in shares of Wheaton Precious Metals in the second quarter worth approximately $49,464,000. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Stock Performance

NYSE:WPM opened at $150.08 on Friday. The stock has a market cap of $68.16 billion, a P/E ratio of 33.28, a price-to-earnings-growth ratio of 2.61 and a beta of 0.55. The firm’s fifty day simple moving average is $118.35 and its 200 day simple moving average is $130.29. Wheaton Precious Metals Corp. has a twelve month low of $92.57 and a twelve month high of $165.76. 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 issued its quarterly earnings data on Thursday, August 6th. The company reported $1.19 EPS for the quarter, topping 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 business had revenue of $878.00 million during the quarter, compared to analyst estimates of $879.29 million. During the same period in the prior year, the business earned $0.63 EPS. The company’s revenue for the quarter was up 84.7% on a year-over-year basis. As a group, research analysts predict that Wheaton Precious Metals Corp. will post 4.79 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms recently commented on WPM. Berenberg Bank set a $157.00 price target on shares of Wheaton Precious Metals in a report on Tuesday, July 28th. UBS Group cut their price target on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Jefferies Financial Group decreased their price objective on shares of 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. Wall Street Zen downgraded shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Bank of America dropped their target price on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Wheaton Precious Metals presently has a consensus 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.