Canada Pension Plan Investment Board Boosts Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Canada Pension Plan Investment Board boosted its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 10.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,560,608 shares of the company’s stock after buying an additional 152,758 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Wheaton Precious Metals were worth $73,576,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of WPM. CVA Family Office LLC purchased a new position in Wheaton Precious Metals during the fourth quarter worth $26,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Wheaton Precious Metals during the fourth quarter worth about $31,000. Principal Securities Inc. purchased a new stake in shares of Wheaton Precious Metals during the fourth quarter worth about $39,000. Fifth Third Bancorp boosted its position in Wheaton Precious Metals by 230.7% in the fourth quarter. Fifth Third Bancorp now owns 863 shares of the company’s stock valued at $43,000 after buying an additional 602 shares during the last quarter. Finally, St. Johns Investment Management Company LLC purchased a new stake in Wheaton Precious Metals in the first quarter valued at approximately $52,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Trading Down 0.7 %

Shares of NYSE:WPM opened at $58.30 on Friday. The business has a 50-day moving average price of $55.84 and a 200 day moving average price of $50.67. The company has a market capitalization of $26.44 billion, a price-to-earnings ratio of 44.85, a PEG ratio of 2.20 and a beta of 0.76. Wheaton Precious Metals Corp. has a 12-month low of $38.37 and a 12-month high of $63.06.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The firm had revenue of $296.80 million during the quarter, compared to the consensus estimate of $278.95 million. Wheaton Precious Metals had a return on equity of 8.53% and a net margin of 53.74%. The company’s quarterly revenue was up 38.7% on a year-over-year basis. During the same period last year, the company earned $0.23 EPS. As a group, equities research analysts predict that Wheaton Precious Metals Corp. will post 1.38 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Wednesday, May 29th were given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Wednesday, May 29th. Wheaton Precious Metals’s payout ratio is 47.69%.

Analysts Set New Price Targets

WPM has been the topic of a number of recent research reports. Jefferies Financial Group upped their target price on Wheaton Precious Metals from $62.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, July 12th. CIBC increased their target price on Wheaton Precious Metals from $75.00 to $80.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Scotiabank increased their target price on Wheaton Precious Metals from $59.00 to $66.50 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Bank of America raised their price objective on Wheaton Precious Metals from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Berenberg Bank raised their price objective on Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $65.00.

Wheaton Precious Metals Profile

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.