Geode Capital Management LLC Increases Stock Holdings in Wheaton Precious Metals Corp. $WPM

Geode Capital Management LLC lifted its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 7.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,518,140 shares of the company’s stock after buying an additional 304,881 shares during the period. Geode Capital Management LLC owned about 1.00% of Wheaton Precious Metals worth $545,019,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Employees Retirement System of Texas boosted its position in shares of Wheaton Precious Metals by 94.5% during the fourth quarter. Employees Retirement System of Texas now owns 82,294 shares of the company’s stock valued at $9,671,000 after buying an additional 39,976 shares during the last quarter. Flputnam Investment Management Co. purchased a new position in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $213,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $28,000. Cary Street Partners Financial LLC purchased a new position in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $185,000. Finally, Themes Management Co LLC purchased a new position in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $475,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on WPM shares. Zacks Research cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. BMO Capital Markets started coverage on Wheaton Precious Metals in a research report on Thursday, April 9th. They set an “outperform” rating and a $240.00 target price on the stock. Wall Street Zen cut Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. UBS Group raised Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 target price on the stock in a research report on Friday, March 27th. Finally, TD Securities lifted their price target on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $155.64.

Wheaton Precious Metals Trading Up 2.1%

Shares of Wheaton Precious Metals stock opened at $132.74 on Friday. The business’s fifty day simple moving average is $133.63 and its 200 day simple moving average is $130.61. The firm has a market capitalization of $60.28 billion, a P/E ratio of 33.52, a price-to-earnings-growth ratio of 2.50 and a beta of 0.50. Wheaton Precious Metals Corp. has a 12 month low of $85.59 and a 12 month high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. The business had revenue of $901.47 million for the quarter, compared to analyst estimates of $868.35 million. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.Wheaton Precious Metals’s quarterly revenue was up 91.7% compared to the same quarter last year. During the same period last year, the company posted $0.55 earnings per share. Analysts predict that Wheaton Precious Metals Corp. will post 4.98 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th will be issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio (DPR) is 19.70%.

Wheaton Precious Metals Company 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.