7,357,574 Shares in Wheaton Precious Metals Corp. $WPM Acquired by Norges Bank

Norges Bank purchased a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 7,357,574 shares of the company’s stock, valued at approximately $864,977,000.

A number of other large investors have also bought and sold shares of the business. Concurrent Investment Advisors LLC grew its position in Wheaton Precious Metals by 1.9% during the 4th quarter. Concurrent Investment Advisors LLC now owns 4,203 shares of the company’s stock worth $494,000 after acquiring an additional 78 shares during the last quarter. Gables Capital Management Inc. grew its position in Wheaton Precious Metals by 7.9% during the 4th quarter. Gables Capital Management Inc. now owns 1,079 shares of the company’s stock worth $127,000 after acquiring an additional 79 shares during the last quarter. Focus Financial Network Inc. grew its position in Wheaton Precious Metals by 2.5% during the 4th quarter. Focus Financial Network Inc. now owns 3,305 shares of the company’s stock worth $388,000 after acquiring an additional 81 shares during the last quarter. Jamison Private Wealth Management Inc. grew its position in Wheaton Precious Metals by 1.7% during the 4th quarter. Jamison Private Wealth Management Inc. now owns 5,375 shares of the company’s stock worth $632,000 after acquiring an additional 92 shares during the last quarter. Finally, Capital Investment Advisors LLC grew its position in Wheaton Precious Metals by 3.9% during the 4th quarter. Capital Investment Advisors LLC now owns 2,460 shares of the company’s stock worth $289,000 after acquiring an additional 93 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on WPM. TD Securities increased their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, March 16th. TD Cowen increased their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Wall Street Zen lowered Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. BMO Capital Markets began coverage on Wheaton Precious Metals in a research report on Thursday, April 9th. They issued an “outperform” rating and a $240.00 price objective on the stock. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $155.64.

Wheaton Precious Metals Stock Up 2.1%

NYSE:WPM opened at $132.74 on Friday. Wheaton Precious Metals Corp. has a 12-month low of $85.59 and a 12-month high of $165.76. The firm has a market capitalization of $60.28 billion, a P/E ratio of 33.52, a P/E/G ratio of 2.50 and a beta of 0.50. The stock’s fifty day simple moving average is $133.63 and its 200-day simple moving average is $130.61.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $868.35 million. During the same period last year, the company earned $0.55 EPS. The firm’s revenue was up 91.7% on a year-over-year basis. As a group, equities research analysts expect that Wheaton Precious Metals Corp. will post 4.98 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th will be paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 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.