Arrowstreet Capital Limited Partnership Has $246.57 Million Position in Wheaton Precious Metals Corp. $WPM

Arrowstreet Capital Limited Partnership boosted its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 30.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,743,476 shares of the company’s stock after buying an additional 632,429 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Wheaton Precious Metals were worth $246,572,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WPM. Louisbourg Investments Inc. boosted its holdings in Wheaton Precious Metals by 72.9% during the second quarter. Louisbourg Investments Inc. now owns 115,846 shares of the company’s stock worth $10,398,000 after purchasing an additional 48,852 shares during the last quarter. Norges Bank purchased a new position in Wheaton Precious Metals during the 2nd quarter valued at about $656,463,000. West Family Investments Inc. bought a new position in Wheaton Precious Metals in the 2nd quarter valued at $247,000. B.O.S.S. Retirement Advisors LLC bought a new position in Wheaton Precious Metals in the 2nd quarter worth about $218,000. Finally, Voya Investment Management LLC raised its stake in Wheaton Precious Metals by 18.0% in the first quarter. Voya Investment Management LLC now owns 747,477 shares of the company’s stock valued at $58,026,000 after purchasing an additional 113,835 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Stock Down 2.2%

NYSE:WPM opened at $107.60 on Wednesday. The business’s 50-day simple moving average is $103.82 and its two-hundred day simple moving average is $97.46. The stock has a market cap of $48.85 billion, a PE ratio of 62.20, a P/E/G ratio of 1.67 and a beta of 0.38. Wheaton Precious Metals Corp. has a 52 week low of $55.47 and a 52 week high of $114.36.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The company had revenue of $476.26 million for the quarter, compared to analysts’ expectations of $495.53 million. During the same period in the previous year, the firm earned $0.34 EPS. The firm’s revenue was up 54.5% compared to the same quarter last year. Sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Thursday, November 20th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Thursday, November 20th. Wheaton Precious Metals’s dividend payout ratio is currently 30.00%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on WPM shares. Zacks Research raised Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Monday, November 24th. UBS Group boosted their price objective on shares of Wheaton Precious Metals from $116.00 to $118.00 and gave the company a “neutral” rating in a research report on Monday. Bank of America lifted their target price on shares of Wheaton Precious Metals from $127.00 to $132.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Berenberg Bank increased their target price on Wheaton Precious Metals from $102.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Finally, Raymond James Financial boosted their target price on Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $124.00.

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.