Caisse de depot et placement du Quebec Takes $60.58 Million Position in Wheaton Precious Metals Corp. $WPM

Caisse de depot et placement du Quebec bought a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 538,689 shares of the company’s stock, valued at approximately $60,576,000.

Several other hedge funds also recently bought and sold shares of the company. Man Group plc bought a new stake in Wheaton Precious Metals during the second quarter valued at about $41,928,000. Jupiter Topco LLC purchased a new stake in shares of Wheaton Precious Metals during the second quarter worth about $18,415,000. J. Goldman & Co LP purchased a new stake in shares of Wheaton Precious Metals during the second quarter worth about $618,000. EFG International AG bought a new stake in Wheaton Precious Metals during the 2nd quarter valued at approximately $52,000. Finally, Ancora Advisors LLC bought a new stake in Wheaton Precious Metals during the 2nd quarter valued at approximately $142,000. Institutional investors own 70.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WPM. Jefferies Financial Group dropped their price target on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a research note on Monday, July 6th. UBS Group lowered their target price on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Bank of America dropped their target price on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Wall Street Zen cut shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Royal Bank Of Canada reduced their price target on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $165.55.

Wheaton Precious Metals Trading Up 1.4%

Shares of WPM opened at $158.26 on Friday. The stock has a market capitalization of $71.88 billion, a PE ratio of 35.09, a P/E/G ratio of 2.76 and a beta of 0.55. The company’s fifty day moving average is $121.93 and its 200 day moving average is $131.13. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.47 and a current ratio of 0.47. Wheaton Precious Metals Corp. has a fifty-two week low of $92.57 and a fifty-two week high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The business had revenue of $878.00 million during the quarter, compared to analysts’ expectations of $879.29 million. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The business’s revenue was up 84.7% on a year-over-year basis. During the same period last year, the company posted $0.63 EPS. Sell-side analysts expect that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be paid a $0.195 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.78 annualized dividend and a dividend yield of 0.5%. Wheaton Precious Metals’s dividend payout ratio is currently 17.29%.

Wheaton Precious Metals Company 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.