Stack Financial Management Inc Buys New Position in Wheaton Precious Metals Corp. $WPM

Stack Financial Management Inc bought a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 268,144 shares of the company’s stock, valued at approximately $30,118,000. Wheaton Precious Metals comprises approximately 2.4% of Stack Financial Management Inc’s holdings, making the stock its 12th largest position.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Wheaton Precious Metals during the 4th quarter worth $864,977,000. Arrowstreet Capital Limited Partnership increased its stake 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 in the last quarter. Van ECK Associates Corp increased its stake 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 in the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Wheaton Precious Metals by 1,655.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,245,766 shares of the company’s stock worth $139,333,000 after purchasing an additional 1,174,799 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Wheaton Precious Metals by 2,621.8% in the 4th quarter. AQR Capital Management LLC now owns 903,678 shares of the company’s stock worth $106,239,000 after purchasing an additional 870,476 shares during the period. 70.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Weiss Ratings downgraded 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 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. Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Jefferies Financial Group lowered their price objective on 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. Finally, Berenberg Bank set a $157.00 price objective on Wheaton Precious Metals in a research note on Tuesday, July 28th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and an average target price of $165.55.

Wheaton Precious Metals Stock Up 1.8%

Shares of WPM stock opened at $134.25 on Friday. The company has a market capitalization of $60.97 billion, a price-to-earnings ratio of 29.77, a PEG ratio of 2.33 and a beta of 0.55. Wheaton Precious Metals Corp. has a one year low of $90.94 and a one year high of $165.76. The company’s fifty day moving average price is $115.96 and its 200-day moving average price is $130.57. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.47 and a quick ratio of 4.53.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. The company had revenue of $878.00 million for the quarter, compared to analysts’ expectations of $879.29 million. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. Wheaton Precious Metals’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.63 EPS. Sell-side analysts expect that Wheaton Precious Metals Corp. will post 4.79 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

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 issued a dividend of $0.195 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.78 dividend on an annualized basis and a yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 17.29%.

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.