Wheaton Precious Metals Corp. $WPM Shares Purchased by Candriam S.C.A.

Candriam S.C.A. increased its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 86.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,946 shares of the company’s stock after purchasing an additional 6,010 shares during the period. Candriam S.C.A.’s holdings in Wheaton Precious Metals were worth $1,694,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its holdings in Wheaton Precious Metals by 3.9% in the first quarter. Sequoia Financial Advisors LLC now owns 11,188 shares of the company’s stock valued at $1,466,000 after acquiring an additional 422 shares during the last quarter. Equitable Trust Co. grew its position in Wheaton Precious Metals by 0.7% in the first quarter. Equitable Trust Co. now owns 34,124 shares of the company’s stock worth $4,471,000 after acquiring an additional 221 shares during the period. Hsbc Holdings PLC acquired a new stake in Wheaton Precious Metals during the first quarter worth $345,000. Cvfg LLC acquired a new stake in Wheaton Precious Metals during the first quarter worth $1,385,000. Finally, Flatrock Wealth Partners LLC purchased a new stake in Wheaton Precious Metals in the first quarter valued at $552,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Price Performance

Shares of NYSE:WPM opened at $108.62 on Wednesday. The firm has a market capitalization of $49.33 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 1.92 and a beta of 0.55. Wheaton Precious Metals Corp. has a 1 year low of $87.96 and a 1 year high of $165.76. The firm’s 50-day moving average is $122.30 and its two-hundred day moving average is $132.37.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data 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 analysts’ expectations of $868.35 million. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The business’s quarterly revenue was up 91.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 earnings per share. Analysts expect that Wheaton Precious Metals Corp. will post 4.8 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

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

Wall Street Analyst Weigh In

WPM has been the topic of several recent analyst reports. Bank of America decreased their price target on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Monday, June 29th. Scotiabank reduced their price objective on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating on the stock in a report on Tuesday. Jefferies Financial Group decreased their target price on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Finally, BMO Capital Markets started coverage on shares of Wheaton Precious Metals in a research note on Thursday, April 9th. They set an “outperform” rating and a $240.00 target price for the company. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $161.09.

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.