Capital World Investors Sells 358,956 Shares of Wheaton Precious Metals Corp. $WPM

Capital World Investors reduced its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 1.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 37,310,669 shares of the company’s stock after selling 358,956 shares during the period. Capital World Investors owned about 0.08% of Wheaton Precious Metals worth $4,384,758,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WPM. Norges Bank bought a new stake in Wheaton Precious Metals during the 4th quarter worth approximately $864,977,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 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 in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in 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 in the last quarter. Bank of Montreal Can boosted its stake in shares of Wheaton Precious Metals by 26.1% in the 3rd quarter. Bank of Montreal Can now owns 6,455,675 shares of the company’s stock worth $722,270,000 after buying an additional 1,335,588 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Wheaton Precious Metals by 1,655.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,245,766 shares of the company’s stock worth $139,333,000 after buying an additional 1,174,799 shares during the last quarter. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Stock Down 9.7%

Shares of NYSE WPM opened at $116.04 on Friday. Wheaton Precious Metals Corp. has a twelve month low of $85.59 and a twelve month high of $165.76. The stock’s 50 day moving average price is $134.24 and its 200-day moving average price is $131.35. The company has a market capitalization of $52.69 billion, a PE ratio of 29.30, a PEG ratio of 2.19 and a beta of 0.51.

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

Wheaton Precious Metals Dividend Announcement

The company 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 $0.195 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $0.78 annualized dividend and a yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio is presently 19.70%.

Analysts Set New Price Targets

WPM has been the topic of a number of research analyst reports. TD Cowen boosted their target price on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Zacks Research downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. UBS Group upgraded Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 target price on the stock in a research note on Friday, March 27th. Finally, TD Securities boosted their target price on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Thirteen 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 an average rating of “Moderate Buy” and an average target price of $155.64.

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.