575,559 Shares in Wheaton Precious Metals Corp. $WPM Acquired by Clearbridge Investments LLC

Clearbridge Investments LLC bought a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 575,559 shares of the company’s stock, valued at approximately $67,640,000. Clearbridge Investments LLC owned about 0.13% of Wheaton Precious Metals at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in WPM. Norges Bank acquired a new position in shares of Wheaton Precious Metals during the 4th quarter worth approximately $864,977,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Wheaton Precious Metals by 36.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,955,810 shares of the company’s stock valued at $777,938,000 after purchasing an additional 1,847,977 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Wheaton Precious Metals by 53.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,197,048 shares of the company’s stock valued at $469,459,000 after purchasing an additional 1,453,572 shares during the period. Bank of Montreal Can boosted its stake in Wheaton Precious Metals by 26.1% in the 3rd quarter. Bank of Montreal Can now owns 6,455,675 shares of the company’s stock valued at $722,270,000 after purchasing an additional 1,335,588 shares during the period. Finally, Qube Research & Technologies Ltd boosted its stake in Wheaton Precious Metals by 1,655.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,245,766 shares of the company’s stock valued at $139,333,000 after purchasing an additional 1,174,799 shares during the period. 70.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the company. TD Cowen boosted their price target on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, March 16th. BMO Capital Markets assumed coverage on Wheaton Precious Metals in a research note on Thursday, April 9th. They issued an “outperform” rating and a $240.00 price target for the company. TD Securities boosted their price target on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Zacks Research downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Finally, Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and a consensus price target of $155.64.

Wheaton Precious Metals Stock Performance

NYSE:WPM opened at $114.88 on Tuesday. The stock has a fifty day moving average price of $134.16 and a 200-day moving average price of $131.64. The company has a market cap of $52.17 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 2.19 and a beta of 0.51. Wheaton Precious Metals Corp. has a fifty-two week low of $85.59 and a fifty-two week high of $165.76.

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

Wheaton Precious Metals Announces Dividend

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

About Wheaton Precious Metals

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.