Wheaton Precious Metals Corp. $WPM Shares Purchased by Alps Advisors Inc.

Alps Advisors Inc. boosted its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 115.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 299,660 shares of the company’s stock after purchasing an additional 160,617 shares during the quarter. Alps Advisors Inc.’s holdings in Wheaton Precious Metals were worth $35,216,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Andra AP fonden lifted its stake in shares of Wheaton Precious Metals by 4.3% in the fourth quarter. Andra AP fonden now owns 77,900 shares of the company’s stock worth $9,155,000 after acquiring an additional 3,200 shares in the last quarter. DJE Kapital AG grew its holdings in shares of Wheaton Precious Metals by 101.0% during the fourth quarter. DJE Kapital AG now owns 155,590 shares of the company’s stock valued at $18,142,000 after purchasing an additional 78,200 shares during the last quarter. Aviva PLC grew its holdings in shares of Wheaton Precious Metals by 5.4% during the fourth quarter. Aviva PLC now owns 534,601 shares of the company’s stock valued at $62,898,000 after purchasing an additional 27,367 shares during the last quarter. Oath Planning LLC bought a new position in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $258,000. Finally, Burkett Asset Management Ltd bought a new position in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $512,000. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on WPM shares. TD Securities boosted their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Scotiabank increased their price objective on Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. TD Cowen boosted their target price on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Finally, BMO Capital Markets started coverage on shares of Wheaton Precious Metals in a research note on Thursday, April 9th. They issued an “outperform” rating and a $240.00 price target on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $155.64.

Wheaton Precious Metals Stock Performance

NYSE WPM opened at $112.58 on Friday. The stock has a market cap of $51.12 billion, a PE ratio of 28.43, a PEG ratio of 2.03 and a beta of 0.51. Wheaton Precious Metals Corp. has a twelve month low of $85.59 and a twelve month high of $165.76. The firm has a 50-day simple moving average of $133.22 and a 200 day simple moving average of $131.84.

Wheaton Precious Metals (NYSE:WPM) last announced 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. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The firm had revenue of $901.47 million during the quarter, compared to analysts’ expectations of $868.35 million. During the same quarter last year, the company earned $0.55 earnings per share. The company’s revenue for the quarter was up 91.7% compared to the same quarter last year. Research analysts forecast that Wheaton Precious Metals Corp. will post 4.98 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were issued a $0.195 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio (DPR) 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.