OneDigital Investment Advisors LLC Purchases New Shares in Wheaton Precious Metals Corp. $WPM

OneDigital Investment Advisors LLC purchased a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 4,105 shares of the company’s stock, valued at approximately $461,000.

A number of other hedge funds have also recently added to or reduced their stakes in WPM. Plato Investment Management Ltd bought a new position in shares of Wheaton Precious Metals in the second quarter worth about $631,000. J.Safra Asset Management Corp acquired a new position in shares of Wheaton Precious Metals during the second quarter worth approximately $437,000. Global Retirement Partners LLC bought a new stake in shares of Wheaton Precious Metals during the second quarter valued at approximately $109,000. Alberta Investment Management Corp bought a new stake in shares of Wheaton Precious Metals during the second quarter valued at approximately $25,052,000. Finally, Fielder Capital Group LLC acquired a new stake in shares of Wheaton Precious Metals in the second quarter valued at approximately $2,414,000. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Up 11.2%

Shares of NYSE WPM opened at $147.56 on Thursday. Wheaton Precious Metals Corp. has a 1 year low of $91.65 and a 1 year high of $165.76. The firm’s 50-day moving average is $117.60 and its 200-day moving average is $130.16. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $67.02 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $879.29 million. During the same period in the previous year, the firm posted $0.63 earnings per share. Wheaton Precious Metals’s revenue for the quarter was up 84.7% compared to the same quarter last year. Equities analysts expect that Wheaton Precious Metals Corp. will post 4.79 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be given a dividend of $0.195 per share. The ex-dividend date is Thursday, August 20th. This represents a $0.78 annualized dividend and a dividend yield of 0.5%. Wheaton Precious Metals’s payout ratio is presently 17.29%.

Analysts Set New Price Targets

Several research analysts recently weighed in on WPM shares. UBS Group dropped their price objective 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. Weiss Ratings lowered Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Jefferies Financial Group lowered their target price on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Royal Bank Of Canada dropped their target price on Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Finally, Berenberg Bank set a $157.00 price target on Wheaton Precious Metals in a research note on Tuesday, July 28th. Twelve equities research 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 currently has an average rating of “Moderate Buy” and an average price target of $165.55.

Wheaton Precious Metals Company 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.