Sequoia Financial Advisors LLC Boosts Position in Wheaton Precious Metals Corp. $WPM

Sequoia Financial Advisors LLC boosted its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 98.5% in the second quarter, HoldingsChannel.com reports. The firm owned 22,204 shares of the company’s stock after buying an additional 11,016 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Wheaton Precious Metals were worth $2,494,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its position in shares of Wheaton Precious Metals by 10.7% during the 4th quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company’s stock worth $1,700,517,000 after buying an additional 1,402,092 shares during the last quarter. Capital International Investors boosted its holdings in shares of Wheaton Precious Metals by 1.2% in the 4th quarter. Capital International Investors now owns 7,595,725 shares of the company’s stock valued at $892,650,000 after buying an additional 93,599 shares in the last quarter. Norges Bank purchased a new position in shares of Wheaton Precious Metals in the 4th quarter valued at $864,977,000. TD Asset Management Inc grew its position in shares of Wheaton Precious Metals by 0.5% in the 4th quarter. TD Asset Management Inc now owns 7,285,275 shares of the company’s stock valued at $857,598,000 after buying an additional 33,221 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in Wheaton Precious Metals by 9.4% during the 4th quarter. Bank of Montreal Can now owns 7,061,090 shares of the company’s stock worth $830,134,000 after acquiring an additional 605,415 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. UBS Group reduced their price target on shares of 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. Berenberg Bank set a $157.00 price objective on Wheaton Precious Metals in a report on Tuesday, July 28th. Weiss Ratings cut Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Bank of America reduced their target price on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Finally, Jefferies Financial Group decreased their target price 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. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $165.55.

Wheaton Precious Metals Trading Down 0.0%

Shares of WPM stock opened at $154.09 on Monday. The business’s 50 day moving average is $130.29 and its two-hundred day moving average is $131.67. Wheaton Precious Metals Corp. has a twelve month low of $92.57 and a twelve month high of $165.76. The company has a market capitalization of $69.98 billion, a P/E ratio of 34.17, a price-to-earnings-growth ratio of 2.72 and a beta of 0.60. 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 earnings per share (EPS) for the quarter, beating 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 business had revenue of $878.00 million for the quarter, compared to analyst estimates of $879.29 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was up 84.7% compared to the same quarter last year. Equities analysts forecast that Wheaton Precious Metals Corp. will post 4.79 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were 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 was Thursday, August 20th. Wheaton Precious Metals’s dividend payout ratio (DPR) is 17.29%.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. (NYSE:WPM) is a precious metals streaming company headquartered in Vancouver, British Columbia. Rather than operating mines directly, the company provides upfront financing to mining companies in exchange for the right to purchase a portion of the future production from specific mining projects at predetermined prices.

Wheaton’s streaming portfolio is primarily focused on gold and silver, with additional exposure to palladium and cobalt through certain agreements.