Geode Capital Management LLC Purchases 304,881 Shares of Wheaton Precious Metals Corp. $WPM

Geode Capital Management LLC raised its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 7.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,518,140 shares of the company’s stock after buying an additional 304,881 shares during the quarter. Geode Capital Management LLC’s holdings in Wheaton Precious Metals were worth $545,019,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in WPM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Wheaton Precious Metals by 36.2% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,955,810 shares of the company’s stock valued at $777,938,000 after buying an additional 1,847,977 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Wheaton Precious Metals by 53.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 4,197,048 shares of the company’s stock valued at $469,459,000 after buying an additional 1,453,572 shares during the period. Bank of Montreal Can raised its stake in shares of Wheaton Precious Metals by 26.1% in the third quarter. Bank of Montreal Can now owns 6,455,675 shares of the company’s stock valued at $722,270,000 after buying an additional 1,335,588 shares during the period. Qube Research & Technologies Ltd raised its stake in shares of Wheaton Precious Metals by 1,655.4% in the third quarter. Qube Research & Technologies Ltd now owns 1,245,766 shares of the company’s stock valued at $139,333,000 after buying an additional 1,174,799 shares during the period. Finally, Capital Research Global Investors raised its stake in shares of Wheaton Precious Metals by 158.1% in the third quarter. Capital Research Global Investors now owns 1,458,898 shares of the company’s stock valued at $163,224,000 after buying an additional 893,733 shares during the period. 70.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. 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. TD Cowen boosted their target price on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, March 16th. BMO Capital Markets started coverage on Wheaton Precious Metals in a research note on Thursday, April 9th. They issued an “outperform” rating and a $240.00 target price on the stock. Wall Street Zen lowered Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Scotiabank boosted their price objective on Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Moderate Buy” and a consensus target price of $155.64.

Wheaton Precious Metals Price Performance

Shares of NYSE:WPM opened at $132.74 on Friday. The firm has a fifty day moving average price of $133.63 and a two-hundred day moving average price of $130.61. The company has a market cap of $60.28 billion, a price-to-earnings ratio of 33.52, a PEG ratio of 2.50 and a beta of 0.50. Wheaton Precious Metals Corp. has a one year low of $85.59 and a one year high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.04. The firm had revenue of $901.47 million for the quarter, compared to analysts’ expectations of $868.35 million. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The business’s quarterly revenue was up 91.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 earnings per share. Equities research analysts expect that Wheaton Precious Metals Corp. will post 4.98 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th will be paid a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio is currently 19.70%.

About Wheaton Precious Metals

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.