Cumberland Partners Ltd Makes New Investment in Wheaton Precious Metals Corp. $WPM

Cumberland Partners Ltd bought a new position in Wheaton Precious Metals Corp. (NYSE:WPMFree Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 6,750 shares of the company’s stock, valued at approximately $794,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. raised its position in shares of Wheaton Precious Metals by 144.4% during the 4th quarter. Assetmark Inc. now owns 220 shares of the company’s stock valued at $26,000 after buying an additional 130 shares in the last quarter. Navalign LLC purchased a new stake in shares of Wheaton Precious Metals during the 4th quarter valued at $30,000. Root Financial Partners LLC purchased a new stake in shares of Wheaton Precious Metals during the 3rd quarter valued at $29,000. Eagle Bay Advisors LLC purchased a new stake in shares of Wheaton Precious Metals during the 4th quarter valued at $32,000. Finally, Aventura Private Wealth LLC purchased a new stake in shares of Wheaton Precious Metals during the 4th quarter valued at $34,000. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

WPM stock opened at $126.39 on Friday. Wheaton Precious Metals Corp. has a 52 week low of $84.46 and a 52 week high of $165.76. The firm’s fifty day moving average is $134.50 and its 200 day moving average is $129.47. The firm has a market cap of $57.39 billion, a P/E ratio of 31.92, a P/E/G ratio of 2.44 and a beta of 0.50.

Wheaton Precious Metals (NYSE:WPMGet Free Report) last released its earnings results on Thursday, May 7th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.24 by $0.04. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The company had revenue of $901.47 million for the quarter, compared to analyst estimates of $868.35 million. During the same quarter last year, the firm earned $0.55 EPS. The firm’s quarterly revenue was up 91.7% compared to the same quarter last year. As a group, analysts forecast that Wheaton Precious Metals Corp. will post 4.97 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th will be issued a dividend of $0.195 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $0.78 annualized dividend and a dividend yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 19.70%.

More Wheaton Precious Metals News

Here are the key news stories impacting Wheaton Precious Metals this week:

Analysts Set New Price Targets

WPM has been the topic of several research reports. TD Securities raised their price objective on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Zacks Research cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. UBS Group upgraded shares of Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 price objective on the stock in a research report on Friday, March 27th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. Finally, Scotiabank raised their price objective on shares of Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Thirteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Wheaton Precious Metals has an average rating of “Moderate Buy” and an average price target of $155.64.

Check Out Our Latest Report on WPM

Wheaton Precious Metals Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding WPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wheaton Precious Metals Corp. (NYSE:WPMFree Report).

Institutional Ownership by Quarter for Wheaton Precious Metals (NYSE:WPM)

Receive News & Ratings for Wheaton Precious Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wheaton Precious Metals and related companies with MarketBeat.com's FREE daily email newsletter.