Pasadena Private Wealth LLC Takes Position in Wheaton Precious Metals Corp (NYSE:WPM)

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Pasadena Private Wealth LLC acquired a new stake in Wheaton Precious Metals Corp (NYSE:WPM) in the second quarter, HoldingsChannel reports. The institutional investor acquired 8,511 shares of the company’s stock, valued at approximately $206,000.

Several other hedge funds have also made changes to their positions in the company. Signaturefd LLC grew its holdings in Wheaton Precious Metals by 39.2% during the 2nd quarter. Signaturefd LLC now owns 1,758 shares of the company’s stock worth $43,000 after acquiring an additional 495 shares during the last quarter. Legacy Bridge LLC bought a new stake in Wheaton Precious Metals during the 1st quarter worth about $54,000. NEXT Financial Group Inc grew its holdings in Wheaton Precious Metals by 67.0% during the 2nd quarter. NEXT Financial Group Inc now owns 2,263 shares of the company’s stock worth $55,000 after acquiring an additional 908 shares during the last quarter. Willingdon Wealth Management bought a new stake in Wheaton Precious Metals during the 1st quarter worth about $61,000. Finally, Beutel Goodman & Co Ltd. bought a new stake in Wheaton Precious Metals during the 1st quarter worth about $62,000. Institutional investors own 53.56% of the company’s stock.

A number of equities research analysts have commented on the stock. TheStreet lowered shares of Wheaton Precious Metals from a “b” rating to a “c+” rating in a report on Friday, August 9th. Raymond James reaffirmed an “outperform” rating and issued a $29.00 target price on shares of Wheaton Precious Metals in a research note on Monday, August 12th. Barclays raised shares of Wheaton Precious Metals from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $23.00 to $28.00 in a research note on Tuesday, July 16th. They noted that the move was a valuation call. Canaccord Genuity reaffirmed a “buy” rating on shares of Wheaton Precious Metals in a research note on Friday, July 19th. Finally, Zacks Investment Research raised shares of Wheaton Precious Metals from a “sell” rating to a “hold” rating in a research note on Friday, July 5th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $31.78.

Shares of NYSE WPM traded down $0.17 during mid-day trading on Thursday, hitting $26.97. The company’s stock had a trading volume of 104,852 shares, compared to its average volume of 3,188,438. The stock has a market cap of $12.14 billion, a price-to-earnings ratio of 56.27, a price-to-earnings-growth ratio of 9.85 and a beta of -0.01. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.65 and a quick ratio of 3.65. Wheaton Precious Metals Corp has a one year low of $15.08 and a one year high of $28.19. The company’s fifty day simple moving average is $26.04 and its 200-day simple moving average is $23.18.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, August 8th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The company had revenue of $189.47 million for the quarter, compared to analyst estimates of $194.90 million. Wheaton Precious Metals had a negative net margin of 3.33% and a positive return on equity of 3.35%. The company’s revenue for the quarter was down 10.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 EPS. On average, sell-side analysts predict that Wheaton Precious Metals Corp will post 0.54 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 23rd will be given a $0.09 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.33%. Wheaton Precious Metals’s dividend payout ratio is 75.00%.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally. The company sells silver and gold ores. It has agreements for 19 operating mines and 9 development stage projects. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp.

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Institutional Ownership by Quarter for Wheaton Precious Metals (NYSE:WPM)

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