Wheaton Precious Metals Corp. $WPM Shares Sold by Varma Mutual Pension Insurance Co
by Scott Moore · The Cerbat GemVarma Mutual Pension Insurance Co lowered its position in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 7.8% in the fourth quarter, Holdings Channel reports. The fund owned 191,258 shares of the company’s stock after selling 16,100 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Wheaton Precious Metals were worth $22,514,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Wheaton Precious Metals by 36.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,955,810 shares of the company’s stock valued at $777,938,000 after purchasing an additional 1,847,977 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Wheaton Precious Metals by 53.0% during the third 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 increased its holdings in 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 last quarter. Qube Research & Technologies Ltd increased its holdings in 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 last quarter. Finally, Capital Research Global Investors raised its stake in 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 in the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.
Analyst Ratings Changes
WPM has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Wheaton Precious Metals from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 28th. Zacks Research lowered Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. BMO Capital Markets started coverage on Wheaton Precious Metals in a research note on Thursday, April 9th. They set an “outperform” rating and a $240.00 target price for the company. Scotiabank upped their price target on Wheaton Precious Metals from $175.00 to $178.00 and gave the company a “sector outperform” rating in a report on Monday, March 16th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Wheaton Precious Metals in a research note on Wednesday, February 4th. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $155.45.
View Our Latest Report on Wheaton Precious Metals
Wheaton Precious Metals Price Performance
Shares of WPM opened at $125.61 on Monday. Wheaton Precious Metals Corp. has a 1-year low of $75.42 and a 1-year high of $165.76. The stock has a market cap of $57.04 billion, a PE ratio of 38.77, a price-to-earnings-growth ratio of 2.43 and a beta of 0.50. The firm has a fifty day moving average price of $140.42 and a 200 day moving average price of $126.44.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last issued its quarterly earnings data on Thursday, March 12th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.31. The company had revenue of $864.71 million for the quarter, compared to analyst estimates of $719.59 million. Wheaton Precious Metals had a return on equity of 17.17% and a net margin of 63.58%.The business’s quarterly revenue was up 127.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 earnings per share. As a group, equities analysts expect that Wheaton Precious Metals Corp. will post 4.88 EPS for the current fiscal year.
Wheaton Precious Metals Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st were issued a $0.195 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This is an increase from Wheaton Precious Metals’s previous quarterly dividend of $0.17. This represents a $0.78 annualized dividend and a dividend yield of 0.6%. Wheaton Precious Metals’s dividend payout ratio is currently 24.07%.
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.
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