Oxbow Advisors LLC Acquires 51,486 Shares of Wheaton Precious Metals Corp. $WPM

by · The Cerbat Gem

Oxbow Advisors LLC boosted its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 91.1% in the first quarter, HoldingsChannel reports. The fund owned 107,996 shares of the company’s stock after acquiring an additional 51,486 shares during the period. Wheaton Precious Metals accounts for 1.2% of Oxbow Advisors LLC’s portfolio, making the stock its 16th biggest holding. Oxbow Advisors LLC’s holdings in Wheaton Precious Metals were worth $14,149,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday. TD Securities raised their price target on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a report on Monday, March 16th. Wall Street Zen lowered Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. TD Cowen upped their price target on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Finally, BMO Capital Markets initiated coverage on shares of Wheaton Precious Metals in a research report on Thursday, April 9th. They set an “outperform” rating and a $240.00 price objective on the stock. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and a consensus price target of $154.73.

Check Out Our Latest Stock Analysis on Wheaton Precious Metals

Wheaton Precious Metals Stock Down 0.1%

Shares of NYSE WPM opened at $115.58 on Friday. Wheaton Precious Metals Corp. has a twelve month low of $85.59 and a twelve month high of $165.76. The firm has a market cap of $52.49 billion, a P/E ratio of 29.19, a PEG ratio of 2.18 and a beta of 0.55. The company has a 50 day moving average of $125.32 and a 200 day moving average of $132.67.

Wheaton Precious Metals (NYSE:WPM – Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.24 by $0.04. The business had revenue of $901.47 million for 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 company’s revenue was up 91.7% compared to the same quarter last year. During the same period last year, the business posted $0.55 EPS. As a group, equities analysts expect that Wheaton Precious Metals Corp. will post 4.99 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders 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 dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio is presently 19.70%.

Wheaton Precious Metals Company Profile

(Free Report)

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.

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