Public Employees Retirement System of Ohio Invests $24.30 Million in Wheaton Precious Metals Corp. $WPM

Public Employees Retirement System of Ohio bought a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) in the 2nd quarter, Holdings Channel.com reports. The firm bought 216,128 shares of the company’s stock, valued at approximately $24,298,000.

A number of other large investors have also recently made changes to their positions in the company. Parvin Asset Management LLC grew its stake in Wheaton Precious Metals by 0.6% during the 4th quarter. Parvin Asset Management LLC now owns 11,925 shares of the company’s stock worth $1,401,000 after buying an additional 75 shares during the last quarter. Johnson Investment Counsel Inc. lifted its stake in Wheaton Precious Metals by 0.4% in the fourth quarter. Johnson Investment Counsel Inc. now owns 20,465 shares of the company’s stock valued at $2,405,000 after buying an additional 75 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in Wheaton Precious Metals by 1.9% in the fourth quarter. Concurrent Investment Advisors LLC now owns 4,203 shares of the company’s stock valued at $494,000 after buying an additional 78 shares during the last quarter. Gables Capital Management Inc. boosted its holdings in shares of Wheaton Precious Metals by 7.9% in the fourth quarter. Gables Capital Management Inc. now owns 1,079 shares of the company’s stock valued at $127,000 after acquiring an additional 79 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Wheaton Precious Metals by 0.3% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 27,105 shares of the company’s stock valued at $3,185,000 after acquiring an additional 86 shares during the period. 70.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WPM has been the topic of a number of recent research reports. Bank of America cut their target price on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Weiss Ratings cut shares of Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Berenberg Bank set a $157.00 price objective on shares of Wheaton Precious Metals in a research report on Tuesday, July 28th. Scotiabank dropped their price objective on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Finally, Jefferies Financial Group reduced their target price on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating for the company in a report on Monday, July 6th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Wheaton Precious Metals has an average rating of “Moderate Buy” and an average price target of $165.55.

Wheaton Precious Metals Trading Down 2.9%

Shares of WPM stock opened at $153.48 on Friday. The business’s 50 day moving average is $122.54 and its two-hundred day moving average is $131.28. Wheaton Precious Metals Corp. has a twelve month low of $92.57 and a twelve month high of $165.76. The company has a market capitalization of $69.70 billion, a P/E ratio of 34.03, a price-to-earnings-growth ratio of 2.71 and a beta of 0.55. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.20.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.15 by $0.04. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%.The business had revenue of $878.00 million during the quarter, compared to analysts’ expectations of $879.29 million. During the same quarter in the prior year, the business earned $0.63 earnings per share. The company’s quarterly revenue was up 84.7% compared to the same quarter last year. Equities analysts forecast that Wheaton Precious Metals Corp. will post 4.79 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

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