Sigma Planning Corp Takes Position in Wheaton Precious Metals Corp. $WPM

Sigma Planning Corp purchased a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 9,574 shares of the company’s stock, valued at approximately $1,254,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Wheaton Precious Metals during the fourth quarter valued at approximately $864,977,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Wheaton Precious Metals by 40.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,912,588 shares of the company’s stock worth $694,951,000 after purchasing an additional 1,715,540 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Wheaton Precious Metals by 10.7% in the 4th quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company’s stock worth $1,700,517,000 after purchasing an additional 1,402,092 shares during the period. Qube Research & Technologies Ltd increased its position in shares of Wheaton Precious Metals by 1,655.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,245,766 shares of the company’s stock valued at $139,333,000 after purchasing an additional 1,174,799 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Wheaton Precious Metals by 2,621.8% during the 4th quarter. AQR Capital Management LLC now owns 903,678 shares of the company’s stock valued at $106,239,000 after purchasing an additional 870,476 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on WPM shares. Bank of America lowered their price target on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Scotiabank cut their price objective on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating on the stock in a research report on Tuesday. Royal Bank Of Canada reduced 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 note on Thursday, July 9th. Jefferies Financial Group lowered 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 report on Monday, July 6th. Finally, BMO Capital Markets began coverage on shares of Wheaton Precious Metals in a research note on Thursday, April 9th. They set an “outperform” rating and a $240.00 price target for the company. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.09.

Wheaton Precious Metals Stock Performance

Shares of NYSE WPM opened at $104.16 on Friday. Wheaton Precious Metals Corp. has a fifty-two week low of $87.96 and a fifty-two week high of $165.76. The company has a market cap of $47.30 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 1.86 and a beta of 0.55. The business’s 50 day moving average price is $120.54 and its 200-day moving average price is $131.94.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.04. The company had revenue of $901.47 million during the quarter, compared to analysts’ expectations of $868.35 million. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.Wheaton Precious Metals’s revenue was up 91.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.55 EPS. Sell-side analysts predict that Wheaton Precious Metals Corp. will post 4.8 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were paid a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 27th. Wheaton Precious Metals’s payout ratio is currently 19.70%.

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.