Wheaton Precious Metals Corp. $WPM Shares Bought by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. grew its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 215.7% during the second quarter, HoldingsChannel reports. The firm owned 15,366 shares of the company’s stock after purchasing an additional 10,498 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Wheaton Precious Metals were worth $1,726,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Harvest Fund Management Co. Ltd grew its position in shares of Wheaton Precious Metals by 100.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after purchasing an additional 117 shares during the period. Cary Street Partners Investment Advisory LLC acquired a new position in Wheaton Precious Metals in the fourth quarter valued at $28,000. Cornerstone Planning Group LLC lifted its position in Wheaton Precious Metals by 245.5% during the first quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock worth $29,000 after buying an additional 162 shares during the period. Navalign LLC purchased a new position in Wheaton Precious Metals during the fourth quarter worth about $30,000. Finally, Hollencrest Capital Management boosted its stake in Wheaton Precious Metals by 73.5% in the 1st quarter. Hollencrest Capital Management now owns 236 shares of the company’s stock worth $31,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on WPM. Royal Bank Of Canada lowered their price target 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. Scotiabank cut 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. UBS Group decreased their target price 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 lowered 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 report on Thursday, July 9th. Finally, Weiss Ratings lowered shares of Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $165.55.

Wheaton Precious Metals Price Performance

WPM stock opened at $153.48 on Friday. The stock has a 50-day moving average price of $122.54 and a two-hundred day moving average price of $131.28. Wheaton Precious Metals Corp. has a 12-month low of $92.57 and a 12-month 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 company 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.

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

Wheaton Precious Metals Dividend Announcement

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 given 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 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.