Oxbow Advisors LLC Has $530,000 Stock Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Oxbow Advisors LLC grew its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 111.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,104 shares of the company’s stock after buying an additional 5,335 shares during the quarter. Oxbow Advisors LLC’s holdings in Wheaton Precious Metals were worth $530,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. AdvisorNet Financial Inc boosted its stake in Wheaton Precious Metals by 6.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 3,330 shares of the company’s stock valued at $175,000 after purchasing an additional 190 shares during the last quarter. Capital International Inc. CA boosted its position in shares of Wheaton Precious Metals by 2.5% during the first quarter. Capital International Inc. CA now owns 8,308 shares of the company’s stock valued at $392,000 after buying an additional 204 shares during the last quarter. Western Pacific Wealth Management LP grew its holdings in Wheaton Precious Metals by 19.6% during the first quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock worth $63,000 after buying an additional 218 shares in the last quarter. Brookstone Capital Management raised its position in Wheaton Precious Metals by 5.3% in the 1st quarter. Brookstone Capital Management now owns 4,771 shares of the company’s stock valued at $225,000 after buying an additional 240 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Wheaton Precious Metals by 25.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock valued at $65,000 after acquiring an additional 253 shares in the last quarter. 70.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. CIBC raised their price target on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Scotiabank upped their target price on Wheaton Precious Metals from $66.50 to $72.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Jefferies Financial Group lifted their price target on Wheaton Precious Metals from $62.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, July 12th. BMO Capital Markets upped their price objective on Wheaton Precious Metals from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Finally, TD Securities lowered their target price on Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and a consensus price target of $67.50.

Wheaton Precious Metals Stock Performance

NYSE WPM traded down $1.90 during trading on Friday, hitting $57.98. 1,420,901 shares of the company’s stock traded hands, compared to its average volume of 1,805,195. The stock has a market capitalization of $26.30 billion, a price-to-earnings ratio of 44.60, a PEG ratio of 2.28 and a beta of 0.76. Wheaton Precious Metals Corp. has a 12-month low of $38.37 and a 12-month high of $63.06. The business has a 50 day moving average of $58.68 and a 200-day moving average of $53.29.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. Wheaton Precious Metals had a net margin of 50.44% and a return on equity of 8.54%. The company had revenue of $299.06 million for the quarter, compared to analysts’ expectations of $309.54 million. During the same period in the prior year, the company posted $0.31 EPS. Wheaton Precious Metals’s revenue was up 12.9% compared to the same quarter last year. On average, analysts expect that Wheaton Precious Metals Corp. will post 1.39 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were issued a dividend of $0.155 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.62 dividend on an annualized basis and a yield of 1.07%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 47.69%.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.