Pure Financial Advisors LLC Acquires New Holdings in Wheaton Precious Metals Corp. $WPM

Pure Financial Advisors LLC bought a new position in Wheaton Precious Metals Corp. (NYSE:WPM) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,363 shares of the company’s stock, valued at approximately $602,000.

A number of other hedge funds have also added to or reduced their stakes in WPM. Harvest Fund Management Co. Ltd increased its position in Wheaton Precious Metals by 100.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after acquiring an additional 117 shares during the last quarter. Cary Street Partners Investment Advisory LLC purchased a new position in Wheaton Precious Metals in the fourth quarter worth about $28,000. Cornerstone Planning Group LLC boosted its position in Wheaton Precious Metals by 245.5% in the first quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock worth $29,000 after purchasing an additional 162 shares during the last quarter. Navalign LLC purchased a new stake in shares of Wheaton Precious Metals during the 4th quarter valued at about $30,000. Finally, Hollencrest Capital Management increased its position in shares of Wheaton Precious Metals by 73.5% during the 1st quarter. Hollencrest Capital Management now owns 236 shares of the company’s stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WPM has been the topic of several analyst reports. Jefferies Financial Group dropped their price target on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. 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 report on Thursday, July 9th. Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings lowered Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Finally, Scotiabank reduced their price target on Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 14th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and an average price target of $165.55.

Wheaton Precious Metals Stock Down 4.9%

NYSE WPM opened at $155.75 on Thursday. The stock’s 50 day moving average is $121.21 and its 200 day moving average is $130.97. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.20. Wheaton Precious Metals Corp. has a 12 month low of $92.57 and a 12 month high of $165.76. The stock has a market cap of $70.74 billion, a PE ratio of 34.53, a P/E/G ratio of 2.89 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.19 earnings per share (EPS) 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 the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 EPS. Research analysts predict that Wheaton Precious Metals Corp. will post 4.79 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be issued a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, August 20th. 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.