Equitable Holdings Inc. Acquires New Shares in Wheaton Precious Metals Corp. $WPM

Equitable Holdings Inc. acquired a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,969 shares of the company’s stock, valued at approximately $446,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC bought a new stake in shares of Wheaton Precious Metals during the first quarter worth about $331,000. Focus Partners Wealth increased its stake in shares of Wheaton Precious Metals by 10.7% in the first quarter. Focus Partners Wealth now owns 11,223 shares of the company’s stock valued at $871,000 after buying an additional 1,081 shares during the period. Acadian Asset Management LLC bought a new position in Wheaton Precious Metals in the 1st quarter valued at approximately $209,000. Sivia Capital Partners LLC bought a new position in Wheaton Precious Metals in the 2nd quarter valued at approximately $239,000. Finally, Rhumbline Advisers boosted its position in Wheaton Precious Metals by 28.3% during the 2nd quarter. Rhumbline Advisers now owns 2,952 shares of the company’s stock worth $265,000 after buying an additional 652 shares during the period. Institutional investors and hedge funds own 70.34% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on WPM shares. 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 for the company in a research note on Thursday, July 9th. 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. Weiss Ratings lowered Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Bank of America lowered their target price 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. Finally, Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $165.55.

Wheaton Precious Metals Stock Up 0.1%

Wheaton Precious Metals stock opened at $153.48 on Monday. The company has a market capitalization of $69.70 billion, a PE ratio of 34.03, a PEG ratio of 2.71 and a beta of 0.55. Wheaton Precious Metals Corp. has a 12-month low of $92.57 and a 12-month high of $165.76. The firm’s fifty day moving average is $122.54 and its 200 day moving average is $131.20. 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 posted its quarterly earnings results on Thursday, August 6th. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $878.00 million during the quarter, compared to analysts’ expectations of $879.29 million. During the same period last year, the company posted $0.63 earnings per share. The business’s quarterly revenue was up 84.7% on a year-over-year basis. As a group, sell-side analysts predict that Wheaton Precious Metals Corp. will post 4.79 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be given 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 of this dividend is Thursday, August 20th. Wheaton Precious Metals’s dividend payout ratio 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.