Capital International Investors Acquires 93,599 Shares of Wheaton Precious Metals Corp. $WPM

Capital International Investors boosted its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 1.2% in the fourth quarter, HoldingsChannel reports. The firm owned 7,595,725 shares of the company’s stock after purchasing an additional 93,599 shares during the period. Capital International Investors’ holdings in Wheaton Precious Metals were worth $892,650,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Wheaton Precious Metals by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 19,079,029 shares of the company’s stock worth $2,242,969,000 after purchasing an additional 289,939 shares in the last quarter. Norges Bank bought a new stake in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $864,977,000. TD Asset Management Inc increased its holdings in shares of Wheaton Precious Metals by 0.5% during the fourth quarter. TD Asset Management Inc now owns 7,285,275 shares of the company’s stock valued at $857,598,000 after acquiring an additional 33,221 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Wheaton Precious Metals by 36.2% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,955,810 shares of the company’s stock valued at $777,938,000 after acquiring an additional 1,847,977 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Wheaton Precious Metals by 26.1% during the third quarter. Bank of Montreal Can now owns 6,455,675 shares of the company’s stock valued at $722,270,000 after acquiring an additional 1,335,588 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. BMO Capital Markets assumed coverage on Wheaton Precious Metals in a report on Thursday, April 9th. They set an “outperform” rating and a $240.00 price objective for the company. Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Zacks Research downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Scotiabank boosted their price objective on Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Finally, UBS Group upgraded Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 price objective for the company in a report on Friday, March 27th. Thirteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $155.64.

Wheaton Precious Metals Price Performance

Shares of NYSE WPM opened at $116.04 on Monday. Wheaton Precious Metals Corp. has a one year low of $85.59 and a one year high of $165.76. The business’s fifty day moving average price is $134.24 and its 200-day moving average price is $131.55. The stock has a market capitalization of $52.69 billion, a PE ratio of 29.30, a P/E/G ratio of 2.19 and a beta of 0.51.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.04. The company 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%.The firm’s revenue for the quarter was up 91.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.55 EPS. As a group, equities analysts expect that Wheaton Precious Metals Corp. will post 4.98 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th will be paid a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio is currently 19.70%.

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.