PCM Encore LLC Invests $361,000 in Wheaton Precious Metals Corp. $WPM

PCM Encore LLC acquired a new position in Wheaton Precious Metals Corp. (NYSE:WPM) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 3,214 shares of the company’s stock, valued at approximately $361,000.

A number of other large investors have also recently added to or reduced their stakes in WPM. Assetmark Inc. raised its position in Wheaton Precious Metals by 144.4% during the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock worth $26,000 after acquiring an additional 130 shares during the last quarter. Cornerstone Planning Group LLC grew its position in shares of Wheaton Precious Metals by 245.5% in the first quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock valued at $29,000 after purchasing an additional 162 shares during the last quarter. Harvest Fund Management Co. Ltd grew its position in shares of Wheaton Precious Metals by 100.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after purchasing an additional 117 shares during the last quarter. Hollencrest Capital Management increased its stake 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 worth $31,000 after purchasing an additional 100 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC purchased a new position in shares of Wheaton Precious Metals during the 4th quarter worth approximately $28,000. 70.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on WPM shares. Scotiabank reduced their target price on Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Bank of America cut their price target 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. Berenberg Bank set a $157.00 price objective on Wheaton Precious Metals in a research report on Tuesday, July 28th. Wall Street Zen lowered Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings cut Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $165.55.

Wheaton Precious Metals Stock Performance

Shares of WPM opened at $157.80 on Friday. 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 capitalization of $71.67 billion, a price-to-earnings ratio of 34.99, a PEG ratio of 2.65 and a beta of 0.55. The company’s 50 day simple moving average is $119.19 and its 200 day simple moving average is $130.48. Wheaton Precious Metals Corp. has a 1 year low of $92.57 and a 1 year high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, August 6th. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.15 by $0.04. The firm had revenue of $878.00 million during 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%. Wheaton Precious Metals’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 EPS. On average, sell-side analysts predict that Wheaton Precious Metals Corp. will post 4.8 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The firm 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. The ex-dividend date 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%.

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.