Wheaton Precious Metals Corp. $WPM Shares Purchased by Employees Retirement System of Texas

Employees Retirement System of Texas lifted its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 94.5% in the fourth quarter, Holdings Channel reports. The firm owned 82,294 shares of the company’s stock after acquiring an additional 39,976 shares during the period. Employees Retirement System of Texas’ holdings in Wheaton Precious Metals were worth $9,671,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in WPM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of 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 position in shares of 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 position in shares of 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. Qube Research & Technologies Ltd boosted its position in shares of 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. Finally, Capital Research Global Investors boosted its position in shares of Wheaton Precious Metals by 158.1% in the 3rd quarter. Capital Research Global Investors now owns 1,458,898 shares of the company’s stock valued at $163,224,000 after purchasing an additional 893,733 shares during the period. 70.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WPM has been the subject of several analyst reports. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research note on Wednesday, February 4th. UBS Group raised Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 price objective for the company in a research note on Friday, March 27th. TD Cowen upped their price objective 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, Scotiabank upped their price objective on Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Wheaton Precious Metals has an average rating of “Moderate Buy” and an average price target of $155.64.

Wheaton Precious Metals Stock Up 3.0%

WPM opened at $130.27 on Wednesday. The business has a 50 day moving average price of $133.92 and a two-hundred day moving average price of $130.16. The company has a market cap of $59.16 billion, a PE ratio of 32.90, a P/E/G ratio of 2.39 and a beta of 0.50. Wheaton Precious Metals Corp. has a 52 week low of $84.46 and a 52 week high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last issued its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. The business 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 for the quarter was up 91.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 EPS. As a group, sell-side analysts expect that Wheaton Precious Metals Corp. will post 4.97 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th will be issued a $0.195 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio 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.