Assetmark Inc. Increases Stock Holdings in Wheaton Precious Metals Corp. $WPM

Assetmark Inc. increased its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 11,599.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 25,738 shares of the company’s stock after purchasing an additional 25,518 shares during the period. Assetmark Inc.’s holdings in Wheaton Precious Metals were worth $3,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in WPM. Harvest Fund Management Co. Ltd raised its position in Wheaton Precious Metals by 100.0% in the fourth 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 acquired a new stake in shares of Wheaton Precious Metals during the 4th quarter worth about $28,000. Navalign LLC acquired a new position in Wheaton Precious Metals in the fourth quarter valued at $30,000. Eagle Bay Advisors LLC acquired a new position in shares of Wheaton Precious Metals during the 4th quarter valued at about $32,000. Finally, Triumph Capital Management purchased a new position in shares of Wheaton Precious Metals in the 3rd quarter worth $33,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Price Performance

NYSE WPM opened at $111.46 on Thursday. Wheaton Precious Metals Corp. has a 12 month low of $90.39 and a 12 month high of $165.76. The firm has a market capitalization of $50.62 billion, a PE ratio of 28.15, a P/E/G ratio of 1.99 and a beta of 0.55. The company’s 50 day simple moving average is $118.46 and its 200 day simple moving average is $131.84.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. The firm had revenue of $901.47 million during the quarter, compared to the consensus estimate of $868.35 million. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The firm’s revenue for the quarter was up 91.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.55 earnings per share. Sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 4.73 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 27th. Wheaton Precious Metals’s payout ratio is presently 19.70%.

Wall Street Analysts Forecast Growth

WPM has been the subject of a number of research reports. Royal Bank Of Canada decreased 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 report on Thursday, July 9th. Weiss Ratings cut Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. BMO Capital Markets assumed coverage on shares of Wheaton Precious Metals in a research note on Thursday, April 9th. They set an “outperform” rating and a $240.00 target price for the company. UBS Group dropped their price objective on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Finally, Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and a consensus target price of $161.09.

Wheaton Precious Metals 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.