Commerce Bank Purchases New Stake in Wheaton Precious Metals Corp. $WPM

Commerce Bank purchased a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the 2nd quarter, Holdings Channel reports. The fund purchased 6,983 shares of the company’s stock, valued at approximately $784,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parvin Asset Management LLC increased its holdings in shares of Wheaton Precious Metals by 0.6% in the fourth quarter. Parvin Asset Management LLC now owns 11,925 shares of the company’s stock valued at $1,401,000 after purchasing an additional 75 shares during the last quarter. Johnson Investment Counsel Inc. raised its position in shares of Wheaton Precious Metals by 0.4% in the fourth quarter. Johnson Investment Counsel Inc. now owns 20,465 shares of the company’s stock valued at $2,405,000 after purchasing an additional 75 shares during the period. Concurrent Investment Advisors LLC lifted its stake in shares of Wheaton Precious Metals by 1.9% during the 4th quarter. Concurrent Investment Advisors LLC now owns 4,203 shares of the company’s stock worth $494,000 after buying an additional 78 shares during the last quarter. Gables Capital Management Inc. lifted its stake in shares of Wheaton Precious Metals by 7.9% during the 4th quarter. Gables Capital Management Inc. now owns 1,079 shares of the company’s stock worth $127,000 after buying an additional 79 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Wheaton Precious Metals by 0.3% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 27,105 shares of the company’s stock worth $3,185,000 after buying an additional 86 shares during the period. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Price Performance

Shares of NYSE WPM opened at $155.75 on Thursday. The business has a fifty day moving average price of $121.21 and a two-hundred day moving average price of $130.97. The stock has a market capitalization of $70.74 billion, a PE ratio of 34.53, a P/E/G ratio of 2.89 and a beta of 0.55. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.47 and a quick ratio of 0.47. Wheaton Precious Metals Corp. has a fifty-two week low of $92.57 and a fifty-two week high of $165.76.

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, topping the consensus estimate 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 company had revenue of $878.00 million for the quarter, compared to analyst estimates of $879.29 million. During the same period in the prior year, the firm posted $0.63 EPS. Wheaton Precious Metals’s quarterly revenue was up 84.7% on a year-over-year basis. As a group, equities analysts predict that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WPM. Wall Street Zen lowered shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Berenberg Bank set a $157.00 price objective on shares of Wheaton Precious Metals in a research report on Tuesday, July 28th. UBS Group reduced their price objective 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 decreased their target price on Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Finally, Weiss Ratings lowered Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $165.55.

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.