Commerce Bank Takes Position in Wheaton Precious Metals Corp. $WPM

Commerce Bank acquired a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 6,983 shares of the company’s stock, valued at approximately $784,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Parvin Asset Management LLC raised its holdings in shares of Wheaton Precious Metals by 0.6% during the fourth quarter. Parvin Asset Management LLC now owns 11,925 shares of the company’s stock worth $1,401,000 after acquiring an additional 75 shares during the period. Johnson Investment Counsel Inc. lifted its holdings in shares of Wheaton Precious Metals by 0.4% in the fourth quarter. Johnson Investment Counsel Inc. now owns 20,465 shares of the company’s stock valued at $2,405,000 after purchasing an additional 75 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of Wheaton Precious Metals by 1.9% in the fourth quarter. Concurrent Investment Advisors LLC now owns 4,203 shares of the company’s stock valued at $494,000 after purchasing an additional 78 shares in the last quarter. Gables Capital Management Inc. boosted its position in shares of Wheaton Precious Metals by 7.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,079 shares of the company’s stock worth $127,000 after buying an additional 79 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of Wheaton Precious Metals by 0.3% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 27,105 shares of the company’s stock worth $3,185,000 after buying an additional 86 shares during the period. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Down 4.9%

NYSE:WPM opened at $155.75 on Thursday. The firm has a market capitalization of $70.74 billion, a price-to-earnings ratio of 34.53, a price-to-earnings-growth ratio of 2.89 and a beta of 0.55. Wheaton Precious Metals Corp. has a twelve month low of $92.57 and a twelve month high of $165.76. The stock’s 50 day moving average price is $121.21 and its two-hundred day moving average price is $130.97. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.20.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.19 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $879.29 million. During the same quarter in the prior year, the firm posted $0.63 EPS. The firm’s revenue for the quarter was up 84.7% compared to the same quarter last year. Equities research analysts expect that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be paid 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 payout ratio is currently 17.29%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WPM. Berenberg Bank set a $157.00 price objective on Wheaton Precious Metals in a report on Tuesday, July 28th. Wall Street Zen cut Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Bank of America reduced their price target on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. UBS Group decreased their price target on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Finally, Scotiabank lowered their price objective on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. Twelve equities research 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 a consensus rating of “Moderate Buy” and an average 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.