Canada Pension Plan Investment Board Grows Stock Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Canada Pension Plan Investment Board raised its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 19.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,860,608 shares of the company’s stock after acquiring an additional 300,000 shares during the period. Canada Pension Plan Investment Board owned approximately 0.41% of Wheaton Precious Metals worth $97,535,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Ridgewood Investments LLC purchased a new stake in shares of Wheaton Precious Metals during the second quarter worth approximately $31,000. Principal Securities Inc. purchased a new position in Wheaton Precious Metals during the 4th quarter worth $39,000. St. Johns Investment Management Company LLC acquired a new stake in shares of Wheaton Precious Metals in the 1st quarter worth $52,000. Massmutual Trust Co. FSB ADV increased its stake in shares of Wheaton Precious Metals by 25.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,231 shares of the company’s stock worth $65,000 after acquiring an additional 253 shares during the period. Finally, Western Pacific Wealth Management LP raised its holdings in Wheaton Precious Metals by 19.6% during the first quarter. Western Pacific Wealth Management LP now owns 1,331 shares of the company’s stock worth $63,000 after purchasing an additional 218 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WPM shares. Berenberg Bank lifted their price objective on Wheaton Precious Metals from $64.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Bank of America increased their price objective on Wheaton Precious Metals from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. TD Securities decreased their target price on shares of Wheaton Precious Metals from $71.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Jefferies Financial Group increased their price target on shares of Wheaton Precious Metals from $62.00 to $67.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, CIBC boosted their price objective on shares of Wheaton Precious Metals from $75.00 to $80.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $67.50.

Wheaton Precious Metals Price Performance

Shares of Wheaton Precious Metals stock opened at $62.62 on Friday. Wheaton Precious Metals Corp. has a 1 year low of $38.37 and a 1 year high of $64.27. The business has a 50 day moving average price of $59.73 and a 200 day moving average price of $54.69. The company has a market capitalization of $28.41 billion, a P/E ratio of 48.17, a P/E/G ratio of 2.29 and a beta of 0.78.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. Wheaton Precious Metals had a return on equity of 8.54% and a net margin of 50.44%. The business had revenue of $299.06 million for the quarter, compared to analyst estimates of $309.54 million. During the same quarter last year, the company earned $0.31 earnings per share. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, research analysts expect that Wheaton Precious Metals Corp. will post 1.4 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Wednesday, August 21st. Wheaton Precious Metals’s dividend payout ratio is presently 47.69%.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.