D.A. Davidson & CO. Has $3.12 Million Stake in Wheaton Precious Metals Corp. $WPM

D.A. Davidson & CO. boosted its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 198.5% in the first quarter, Holdings Channel reports. The firm owned 23,787 shares of the company’s stock after purchasing an additional 15,818 shares during the quarter. D.A. Davidson & CO.’s holdings in Wheaton Precious Metals were worth $3,116,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Wheaton Precious Metals by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 19,079,029 shares of the company’s stock valued at $2,242,969,000 after buying an additional 289,939 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Wheaton Precious Metals by 10.7% during the 4th quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company’s stock worth $1,700,517,000 after buying an additional 1,402,092 shares during the last quarter. Capital International Investors grew its holdings in shares of Wheaton Precious Metals by 1.2% in the 4th quarter. Capital International Investors now owns 7,595,725 shares of the company’s stock valued at $892,650,000 after acquiring an additional 93,599 shares in the last quarter. Norges Bank bought a new position in shares of Wheaton Precious Metals in the 4th quarter valued at about $864,977,000. Finally, TD Asset Management Inc increased its position in shares of Wheaton Precious Metals by 0.5% in the fourth quarter. TD Asset Management Inc now owns 7,285,275 shares of the company’s stock valued at $857,598,000 after acquiring an additional 33,221 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

Shares of NYSE:WPM opened at $104.16 on Monday. Wheaton Precious Metals Corp. has a 52-week low of $87.96 and a 52-week high of $165.76. The company has a market capitalization of $47.30 billion, a P/E ratio of 26.30, a price-to-earnings-growth ratio of 1.85 and a beta of 0.55. The company has a 50-day simple moving average of $120.54 and a 200 day simple moving average of $132.05.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. The business had revenue of $901.47 million during the quarter, compared to analysts’ expectations of $868.35 million. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.Wheaton Precious Metals’s quarterly revenue was up 91.7% on a year-over-year basis. During the same quarter last year, the company posted $0.55 earnings per share. As a group, equities analysts forecast that Wheaton Precious Metals Corp. will post 4.82 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

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

Wall Street Analysts Forecast Growth

WPM has been the topic of several analyst reports. Jefferies Financial Group dropped their target price on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating on the stock in a report on Monday, July 6th. 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. Weiss Ratings lowered Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday. Royal Bank Of Canada dropped their price objective on Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating on the stock in a research note 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 research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and an average target price of $161.09.

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.