Cvfg LLC Buys Shares of 10,573 Wheaton Precious Metals Corp. $WPM

Cvfg LLC bought a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 10,573 shares of the company’s stock, valued at approximately $1,385,000.

Other hedge funds have also made changes to their positions in the company. Assetmark Inc. boosted its stake in Wheaton Precious Metals by 144.4% during the 4th quarter. Assetmark Inc. now owns 220 shares of the company’s stock valued at $26,000 after acquiring an additional 130 shares during the last quarter. Harvest Fund Management Co. Ltd grew its holdings in Wheaton Precious Metals by 100.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock worth $27,000 after acquiring an additional 117 shares in the last quarter. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Wheaton Precious Metals in the 4th quarter worth about $28,000. Navalign LLC acquired a new stake in shares of Wheaton Precious Metals in the 4th quarter valued at about $30,000. Finally, Eagle Bay Advisors LLC acquired a new stake in shares of Wheaton Precious Metals in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wall Street Analyst Weigh In

WPM has been the subject of a number of research reports. UBS Group decreased 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. BMO Capital Markets initiated coverage on Wheaton Precious Metals in a research note on Thursday, April 9th. They set an “outperform” rating and a $240.00 price objective on the stock. Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Jefferies Financial Group decreased their target price on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a research report on Monday. Finally, Scotiabank boosted their price target on Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wheaton Precious Metals has an average rating of “Moderate Buy” and an average target price of $157.64.

Wheaton Precious Metals Stock Performance

NYSE WPM opened at $111.77 on Wednesday. Wheaton Precious Metals Corp. has a one year low of $85.59 and a one year high of $165.76. The company has a 50-day simple moving average of $124.24 and a 200-day simple moving average of $132.77. The firm has a market capitalization of $50.76 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 2.17 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The firm had revenue of $901.47 million for the quarter, compared to analysts’ expectations of $868.35 million. During the same quarter last year, the company posted $0.55 earnings per share. Wheaton Precious Metals’s revenue was up 91.7% on a year-over-year basis. Equities analysts forecast that Wheaton Precious Metals Corp. will post 4.99 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were issued a $0.195 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 19.70%.

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.