Wilmington Savings Fund Society FSB Increases Stock Position in Wheaton Precious Metals Corp. $WPM

Wilmington Savings Fund Society FSB grew its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 16.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,000 shares of the company’s stock after buying an additional 5,000 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Wheaton Precious Metals were worth $3,914,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. West Family Investments Inc. bought a new position in shares of Wheaton Precious Metals during the second quarter valued at $247,000. Norges Bank purchased a new stake in Wheaton Precious Metals during the 2nd quarter valued at about $656,463,000. Voya Investment Management LLC grew its position in Wheaton Precious Metals by 7.4% during the 3rd quarter. Voya Investment Management LLC now owns 246,827 shares of the company’s stock valued at $27,608,000 after purchasing an additional 16,908 shares during the last quarter. Louisbourg Investments Inc. increased its stake in Wheaton Precious Metals by 72.9% during the 2nd quarter. Louisbourg Investments Inc. now owns 115,846 shares of the company’s stock valued at $10,398,000 after purchasing an additional 48,852 shares in the last quarter. Finally, State of Wyoming purchased a new position in Wheaton Precious Metals in the second quarter worth about $782,000. 70.34% of the stock is currently owned by institutional investors.

Wheaton Precious Metals Stock Down 0.0%

Shares of WPM opened at $135.46 on Friday. The business has a 50-day simple moving average of $114.55 and a two-hundred day simple moving average of $104.46. Wheaton Precious Metals Corp. has a 52 week low of $56.70 and a 52 week high of $135.72. The stock has a market cap of $61.50 billion, a price-to-earnings ratio of 61.57, a PEG ratio of 1.31 and a beta of 0.52.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, November 6th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.03. The company had revenue of $476.26 million during the quarter, compared to analyst estimates of $495.53 million. Wheaton Precious Metals had a net margin of 54.72% and a return on equity of 13.32%. The firm’s quarterly revenue was up 54.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 EPS. On average, equities analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 20th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Thursday, November 20th. Wheaton Precious Metals’s payout ratio is presently 30.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on WPM shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Wheaton Precious Metals in a report on Monday, December 29th. Bank of America increased their price objective on shares of Wheaton Precious Metals from $127.00 to $132.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. UBS Group lifted their target price on shares of Wheaton Precious Metals from $116.00 to $118.00 and gave the stock a “neutral” rating in a research report on Monday, December 1st. Royal Bank Of Canada raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $115.00 to $130.00 in a report on Wednesday, December 10th. Finally, Raymond James Financial lifted their price objective on Wheaton Precious Metals from $114.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and a consensus target price of $130.78.

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.