Canada Pension Plan Investment Board acquired a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,129,681 shares of the company’s stock, valued at approximately $351,708,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC bought a new stake in shares of Wheaton Precious Metals in the first quarter valued at about $331,000. Focus Partners Wealth grew its holdings in Wheaton Precious Metals by 10.7% during the 1st quarter. Focus Partners Wealth now owns 11,223 shares of the company’s stock worth $871,000 after acquiring an additional 1,081 shares in the last quarter. Acadian Asset Management LLC bought a new position in Wheaton Precious Metals during the 1st quarter worth about $209,000. Sivia Capital Partners LLC purchased a new position in Wheaton Precious Metals during the 2nd quarter valued at about $239,000. Finally, Rhumbline Advisers raised its holdings in shares of Wheaton Precious Metals by 28.3% in the 2nd quarter. Rhumbline Advisers now owns 2,952 shares of the company’s stock valued at $265,000 after purchasing an additional 652 shares in the last quarter. 70.34% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Royal Bank Of Canada reduced their price objective on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Bank of America lowered their target price on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, July 9th. 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 research report on Monday, July 6th. Finally, UBS Group cut their price target on Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $165.55.
Wheaton Precious Metals Stock Performance
WPM stock opened at $163.66 on Wednesday. Wheaton Precious Metals Corp. has a one year low of $92.57 and a one year high of $165.76. The firm has a market cap of $74.33 billion, a price-to-earnings ratio of 36.29, a PEG ratio of 2.83 and a beta of 0.55. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a 50-day simple moving average of $120.62 and a two-hundred day simple moving average of $130.80.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The firm had revenue of $878.00 million for the quarter, compared to the consensus estimate of $879.29 million. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The company’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 EPS. On average, equities analysts forecast that Wheaton Precious Metals Corp. will post 4.79 EPS for the current fiscal year.
Wheaton Precious Metals Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be paid a $0.195 dividend. This represents a $0.78 annualized dividend and a yield of 0.5%. The ex-dividend date is Thursday, August 20th. Wheaton Precious Metals’s dividend payout ratio (DPR) is 17.29%.
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.
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