Lombard Odier Asset Management Europe Ltd Takes $3.46 Million Position in Wheaton Precious Metals Corp. $WPM

Lombard Odier Asset Management Europe Ltd acquired a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,763 shares of the company’s stock, valued at approximately $3,455,000.

A number of other hedge funds have also modified their holdings of WPM. Norges Bank bought a new stake in Wheaton Precious Metals in the 4th quarter valued at approximately $864,977,000. BlackRock Inc. acquired a new position in Wheaton Precious Metals during the 2nd quarter worth approximately $581,250,000. Canada Pension Plan Investment Board bought a new position in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $351,708,000. Bank of America Corp DE bought a new position in shares of Wheaton Precious Metals during the 2nd quarter worth approximately $328,309,000. Finally, Legal & General Group Plc acquired a new stake in shares of Wheaton Precious Metals in the second quarter valued at approximately $320,838,000. 70.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WPM shares. UBS Group cut their price objective on shares of 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. Bank of America decreased their target price on shares of 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. Scotiabank cut their price target on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 14th. 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. Finally, Jefferies Financial Group decreased their price objective on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a report on Monday, July 6th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $165.55.

Wheaton Precious Metals Stock Performance

Shares of NYSE WPM opened at $153.48 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.20. Wheaton Precious Metals Corp. has a 12 month low of $92.57 and a 12 month high of $165.76. The stock has a 50 day moving average of $122.54 and a 200-day moving average of $131.28. The company has a market capitalization of $69.70 billion, a P/E ratio of 34.03, a P/E/G ratio of 2.79 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly 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. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%.The business had revenue of $878.00 million during the quarter, compared to the consensus estimate of $879.29 million. During the same quarter last year, the firm posted $0.63 EPS. The company’s quarterly revenue was up 84.7% on a year-over-year basis. As a group, equities research analysts predict that Wheaton Precious Metals Corp. will post 4.79 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

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

Wheaton Precious Metals Company 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.