Lombard Odier Asset Management Europe Ltd Invests $3.46 Million in Wheaton Precious Metals Corp. $WPM

Lombard Odier Asset Management Europe Ltd purchased a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 30,763 shares of the company’s stock, valued at approximately $3,455,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WPM. AQR Capital Management LLC bought a new stake in shares of Wheaton Precious Metals in the first quarter valued at about $331,000. Focus Partners Wealth increased its position in Wheaton Precious Metals by 10.7% during the first quarter. Focus Partners Wealth now owns 11,223 shares of the company’s stock worth $871,000 after acquiring an additional 1,081 shares during the period. Acadian Asset Management LLC acquired a new stake in Wheaton Precious Metals in the 1st quarter worth about $209,000. Sivia Capital Partners LLC acquired a new position in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $239,000. Finally, Rhumbline Advisers grew its position in shares of Wheaton Precious Metals by 28.3% during the 2nd quarter. Rhumbline Advisers now owns 2,952 shares of the company’s stock worth $265,000 after purchasing an additional 652 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Trading Down 2.9%

Shares of WPM stock opened at $153.48 on Friday. Wheaton Precious Metals Corp. has a fifty-two week low of $92.57 and a fifty-two week high of $165.76. The stock’s fifty day moving average price is $122.54 and its two-hundred day moving average price is $131.28. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market cap of $69.70 billion, a PE ratio of 34.03, a P/E/G ratio of 2.79 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 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $879.29 million. During the same quarter in the previous year, the firm earned $0.63 EPS. Wheaton Precious Metals’s revenue was up 84.7% on a year-over-year basis. Equities analysts predict that Wheaton Precious Metals Corp. will post 4.79 EPS 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 issued 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 dividend yield of 0.5%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 17.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on WPM shares. Berenberg Bank set a $157.00 price target on shares of Wheaton Precious Metals in a research report on Tuesday, July 28th. Royal Bank Of Canada reduced their price target 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. Weiss Ratings lowered Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Bank of America dropped their price objective on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Finally, Jefferies Financial Group cut their target price on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Twelve 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, the company currently has an average 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.