Corient Private Wealth LP Acquires Shares of 49,776 Wheaton Precious Metals Corp. $WPM

Corient Private Wealth LP bought a new position in Wheaton Precious Metals Corp. (NYSE:WPM) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 49,776 shares of the company’s stock, valued at approximately $5,591,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd boosted its stake in Wheaton Precious Metals by 100.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock worth $27,000 after purchasing an additional 117 shares in the last quarter. Cary Street Partners Investment Advisory LLC bought a new stake in Wheaton Precious Metals during the 4th quarter valued at about $28,000. Cornerstone Planning Group LLC raised its holdings 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 buying an additional 162 shares during the last quarter. Navalign LLC purchased a new position in Wheaton Precious Metals in the fourth quarter worth about $30,000. Finally, Hollencrest Capital Management raised its holdings in Wheaton Precious Metals by 73.5% in the first quarter. Hollencrest Capital Management now owns 236 shares of the company’s stock worth $31,000 after buying an additional 100 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Price Performance

Shares of NYSE:WPM opened at $150.70 on Tuesday. Wheaton Precious Metals Corp. has a fifty-two week low of $92.57 and a fifty-two week high of $165.76. The business has a 50-day simple moving average of $123.12 and a two-hundred day simple moving average of $131.25. 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 firm has a market cap of $68.44 billion, a price-to-earnings ratio of 33.41, a price-to-earnings-growth ratio of 2.71 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, August 6th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.04. The business had revenue of $878.00 million for the quarter, compared to analysts’ expectations of $879.29 million. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The business’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.63 EPS. On average, analysts expect that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be issued a dividend of $0.195 per share. 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 presently 17.29%.

Analyst Upgrades and Downgrades

WPM has been the topic of several analyst reports. Wall Street Zen downgraded shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Scotiabank reduced their price target on shares of 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. Royal Bank Of Canada decreased 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. UBS Group lowered their price objective on Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Finally, Bank of America cut their target price on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $165.55.

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.