Norges Bank Invests $864.98 Million in Wheaton Precious Metals Corp. $WPM

Norges Bank purchased a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 7,357,574 shares of the company’s stock, valued at approximately $864,977,000. Norges Bank owned approximately 1.62% of Wheaton Precious Metals as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in WPM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Wheaton Precious Metals by 36.2% during the 3rd 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 last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Wheaton Precious Metals by 53.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,197,048 shares of the company’s stock worth $469,459,000 after purchasing an additional 1,453,572 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Wheaton Precious Metals by 26.1% during the 3rd 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 last quarter. Qube Research & Technologies Ltd lifted its position in shares of Wheaton Precious Metals by 1,655.4% during the 3rd 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 last quarter. Finally, Capital Research Global Investors lifted its position in shares of Wheaton Precious Metals by 158.1% during the 3rd quarter. Capital Research Global Investors now owns 1,458,898 shares of the company’s stock worth $163,224,000 after purchasing an additional 893,733 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Trading Up 2.1%

Shares of WPM opened at $132.74 on Friday. Wheaton Precious Metals Corp. has a 1 year low of $85.59 and a 1 year high of $165.76. The stock has a 50 day simple moving average of $133.63 and a 200-day simple moving average of $130.61. The stock has a market cap of $60.28 billion, a PE ratio of 33.52, a PEG ratio of 2.50 and a beta of 0.50.

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. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The business had revenue of $901.47 million during the quarter, compared to analysts’ expectations of $868.35 million. During the same period in the prior year, the firm posted $0.55 EPS. Wheaton Precious Metals’s quarterly revenue was up 91.7% compared to the same quarter last year. On average, sell-side analysts forecast that Wheaton Precious Metals Corp. will post 4.98 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th will be issued a $0.195 dividend. The ex-dividend date of this dividend 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 presently 19.70%.

Analysts Set New Price Targets

WPM has been the subject of several recent research reports. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a report on Wednesday, February 4th. BMO Capital Markets initiated coverage on Wheaton Precious Metals in a report on Thursday, April 9th. They issued an “outperform” rating and a $240.00 price target for the company. TD Securities upped their price target on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a report on Monday, March 16th. Wall Street Zen cut Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, UBS Group raised Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 price target for the company in a report on Friday, March 27th. Thirteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.