Principle Wealth Partners LLC Purchases Shares of 8,346 Wheaton Precious Metals Corp. $WPM

Principle Wealth Partners LLC purchased a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 8,346 shares of the company’s stock, valued at approximately $937,000.

A number of other institutional investors have also made changes to their positions in the business. OneDigital Investment Advisors LLC acquired a new position in shares of Wheaton Precious Metals during the 2nd quarter worth about $461,000. Plato Investment Management Ltd bought a new stake in Wheaton Precious Metals during the 2nd quarter valued at approximately $631,000. J.Safra Asset Management Corp acquired a new stake in Wheaton Precious Metals in the 2nd quarter valued at approximately $437,000. Global Retirement Partners LLC acquired a new stake in Wheaton Precious Metals in the 2nd quarter valued at approximately $109,000. Finally, Alberta Investment Management Corp bought a new position in Wheaton Precious Metals in the 2nd quarter worth approximately $25,052,000. 70.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on WPM shares. Weiss Ratings lowered Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Scotiabank dropped their target price 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, July 14th. UBS Group cut their price target on Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Royal Bank Of Canada reduced their price objective on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Finally, Bank of America dropped their price target on shares of 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. Twelve equities research 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $165.55.

Wheaton Precious Metals Stock Up 2.0%

Shares of NYSE WPM opened at $136.85 on Tuesday. The stock has a market cap of $62.15 billion, a PE ratio of 30.34, a PEG ratio of 2.38 and a beta of 0.55. The business has a fifty day moving average of $116.40 and a two-hundred day moving average of $130.36. Wheaton Precious Metals Corp. has a 52-week low of $90.94 and a 52-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 issued its earnings results on Thursday, August 6th. The company reported $1.19 EPS for the quarter, beating 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 company had revenue of $878.00 million for the quarter, compared to the consensus estimate of $879.29 million. During the same quarter in the previous year, the company earned $0.63 EPS. The firm’s revenue for the quarter was up 84.7% compared to the same quarter last year. As a group, equities research analysts expect that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently declared 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. The ex-dividend date is Thursday, August 20th. This represents a $0.78 dividend on an annualized basis and a yield of 0.6%. Wheaton Precious Metals’s payout ratio is 17.29%.

About Wheaton Precious Metals

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.