Principle Wealth Partners LLC Purchases New Shares in Wheaton Precious Metals Corp. $WPM

Principle Wealth Partners LLC purchased a new position in Wheaton Precious Metals Corp. (NYSE:WPM) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 8,346 shares of the company’s stock, valued at approximately $937,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of WPM. OneDigital Investment Advisors LLC purchased a new position in shares of Wheaton Precious Metals in the second quarter worth approximately $461,000. Plato Investment Management Ltd acquired a new stake in shares of Wheaton Precious Metals during the second quarter valued at approximately $631,000. J.Safra Asset Management Corp purchased a new stake in shares of Wheaton Precious Metals in the 2nd quarter valued at approximately $437,000. Global Retirement Partners LLC purchased a new stake in shares of Wheaton Precious Metals in the 2nd quarter valued at approximately $109,000. Finally, Alberta Investment Management Corp acquired a new position in Wheaton Precious Metals in the 2nd quarter worth approximately $25,052,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

WPM opened at $136.85 on Tuesday. 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 cap of $62.15 billion, a PE ratio of 30.34, a price-to-earnings-growth ratio of 2.38 and a beta of 0.55. The stock has a 50-day moving average of $116.40 and a 200-day moving average of $130.36. Wheaton Precious Metals Corp. has a 52-week low of $90.94 and a 52-week high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $879.29 million. During the same period last year, the business earned $0.63 EPS. The firm’s revenue was up 84.7% compared to the same quarter last year. As a group, equities research analysts forecast 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 declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be given a $0.195 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 17.29%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on WPM shares. Jefferies Financial Group lowered their price objective on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Royal Bank Of Canada reduced their target price on Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Bank of America decreased their price objective 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. Berenberg Bank set a $157.00 price target on shares of Wheaton Precious Metals in a report on Tuesday, July 28th. Finally, UBS Group lowered their price target on 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. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Wheaton Precious Metals presently has a consensus rating of “Moderate Buy” and a consensus price target 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.