Arrowstreet Capital Limited Partnership Raises Stock Position in Wheaton Precious Metals Corp. $WPM

Arrowstreet Capital Limited Partnership boosted its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 40.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,912,588 shares of the company’s stock after purchasing an additional 1,715,540 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 1.30% of Wheaton Precious Metals worth $694,951,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of WPM. Norges Bank purchased a new position in Wheaton Precious Metals during the fourth quarter worth about $864,977,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in 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 worth $777,938,000 after purchasing an additional 1,847,977 shares during the period. Van ECK Associates Corp raised its stake in Wheaton Precious Metals by 10.7% during the fourth quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company’s stock worth $1,700,517,000 after purchasing an additional 1,402,092 shares during the period. Bank of Montreal Can raised its stake in 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 worth $722,270,000 after purchasing an additional 1,335,588 shares during the period. Finally, Qube Research & Technologies Ltd raised its stake in Wheaton Precious Metals by 1,655.4% during the third quarter. Qube Research & Technologies Ltd now owns 1,245,766 shares of the company’s stock worth $139,333,000 after purchasing an additional 1,174,799 shares during the period. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

Shares of WPM stock opened at $116.09 on Friday. Wheaton Precious Metals Corp. has a fifty-two week low of $85.59 and a fifty-two week high of $165.76. The stock has a market capitalization of $52.72 billion, a P/E ratio of 29.31, a price-to-earnings-growth ratio of 2.19 and a beta of 0.51. The company has a 50 day moving average price of $132.81 and a 200 day moving average price of $131.73.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.28 EPS for the quarter, topping the consensus estimate 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 company had revenue of $901.47 million during the quarter, compared to analysts’ expectations of $868.35 million. During the same quarter in the previous year, the business posted $0.55 EPS. The firm’s revenue was up 91.7% on a year-over-year basis. On average, research analysts forecast that Wheaton Precious Metals Corp. will post 4.98 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were issued a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 0.7%. The ex-dividend date was Wednesday, May 27th. Wheaton Precious Metals’s payout ratio is 19.70%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. TD Cowen boosted their price target 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. Zacks Research downgraded shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Scotiabank boosted their price target on shares of Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. BMO Capital Markets assumed 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. Finally, TD Securities boosted their price target 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. Thirteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wheaton Precious Metals currently has an average rating of “Moderate Buy” and an average target price of $155.64.

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.