Wheaton Precious Metals Corp. $WPM Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 8.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 327,150 shares of the company’s stock after acquiring an additional 25,000 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Wheaton Precious Metals were worth $44,660,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Wheaton Precious Metals by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 19,079,029 shares of the company’s stock worth $2,242,969,000 after acquiring an additional 289,939 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Wheaton Precious Metals by 10.7% in the fourth quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company’s stock valued at $1,700,517,000 after purchasing an additional 1,402,092 shares during the period. Capital International Investors grew its position in shares of Wheaton Precious Metals by 1.2% in the fourth quarter. Capital International Investors now owns 7,595,725 shares of the company’s stock valued at $892,650,000 after purchasing an additional 93,599 shares during the period. Norges Bank purchased a new stake in shares of Wheaton Precious Metals during the fourth quarter worth about $864,977,000. Finally, TD Asset Management Inc increased its stake 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 worth $857,598,000 after purchasing an additional 33,221 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Trading Down 0.1%

WPM stock opened at $104.16 on Friday. The firm has a 50-day moving average of $120.54 and a two-hundred day moving average of $131.94. Wheaton Precious Metals Corp. has a 12 month low of $87.96 and a 12 month high of $165.76. The company has a market cap of $47.30 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 1.85 and a beta of 0.55.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.04. The business had revenue of $901.47 million for the quarter, compared to analysts’ expectations of $868.35 million. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The business’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 firm posted $0.55 EPS. As a group, equities analysts forecast that Wheaton Precious Metals Corp. will post 4.82 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Jefferies Financial Group decreased their price target on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. BMO Capital Markets began coverage on Wheaton Precious Metals in a report on Thursday, April 9th. They set an “outperform” rating and a $240.00 target price for the company. Bank of America decreased their target price on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. UBS Group dropped their price target on Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Finally, Scotiabank reduced their price objective on Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.09.

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.