NINE MASTS CAPITAL Ltd Takes $367,000 Position in Wheaton Precious Metals Corp. $WPM

NINE MASTS CAPITAL Ltd purchased a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,270 shares of the company’s stock, valued at approximately $367,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Van ECK Associates Corp increased its position in Wheaton Precious Metals by 10.7% in the fourth quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company’s stock worth $1,700,517,000 after buying an additional 1,402,092 shares during the period. Capital International Investors boosted its holdings in shares of Wheaton Precious Metals by 1.2% during the fourth quarter. Capital International Investors now owns 7,595,725 shares of the company’s stock valued at $892,650,000 after acquiring an additional 93,599 shares during the period. Norges Bank acquired a new position in shares of Wheaton Precious Metals during the fourth quarter valued at $864,977,000. TD Asset Management Inc grew its position in shares of Wheaton Precious Metals by 0.5% during the fourth quarter. TD Asset Management Inc now owns 7,285,275 shares of the company’s stock worth $857,598,000 after acquiring an additional 33,221 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Wheaton Precious Metals by 9.4% in the 4th quarter. Bank of Montreal Can now owns 7,061,090 shares of the company’s stock worth $830,134,000 after acquiring an additional 605,415 shares during the period. Institutional investors and hedge funds own 70.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on WPM. Wall Street Zen downgraded shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. UBS Group dropped their price target on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Royal Bank Of Canada dropped their price target on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Jefferies Financial Group cut their price target on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Finally, Scotiabank reduced their price objective 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 investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $165.55.

Wheaton Precious Metals Price Performance

Shares of Wheaton Precious Metals stock opened at $153.48 on Monday. Wheaton Precious Metals Corp. has a 52 week low of $92.57 and a 52 week high of $165.76. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.20. The stock has a market cap of $69.70 billion, a PE ratio of 34.03, a price-to-earnings-growth ratio of 2.71 and a beta of 0.55. The company’s 50-day moving average price is $122.54 and its two-hundred day moving average price is $131.20.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.04. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The company had revenue of $878.00 million during the quarter, compared to analyst estimates of $879.29 million. During the same quarter last year, the firm posted $0.63 EPS. The business’s revenue for the quarter was up 84.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 4.79 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced 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. This represents a $0.78 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Thursday, August 20th. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 17.29%.

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.