Wheaton Precious Metals Corp. (NYSE:WPM) Shares Bought by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board raised its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 519.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,530 shares of the company’s stock after purchasing an additional 18,054 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Wheaton Precious Metals were worth $1,210,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Versant Capital Management Inc purchased a new position in Wheaton Precious Metals in the fourth quarter valued at $29,000. Promus Capital LLC purchased a new position in shares of Wheaton Precious Metals in the 4th quarter valued at about $32,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Wheaton Precious Metals during the 4th quarter worth about $38,000. Headlands Technologies LLC lifted its stake in Wheaton Precious Metals by 494.9% during the fourth quarter. Headlands Technologies LLC now owns 696 shares of the company’s stock worth $39,000 after purchasing an additional 579 shares during the last quarter. Finally, Laurel Wealth Advisors LLC acquired a new position in Wheaton Precious Metals in the fourth quarter valued at approximately $39,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on WPM shares. Raymond James raised their price objective on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday. Stifel Canada raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Royal Bank of Canada raised their price objective on Wheaton Precious Metals from $75.00 to $80.00 and gave the stock a “sector perform” rating in a report on Friday, April 4th. Scotiabank boosted their target price on Wheaton Precious Metals from $79.00 to $87.00 and gave the company a “sector outperform” rating in a report on Monday. Finally, UBS Group raised their price target on Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wheaton Precious Metals presently has an average rating of “Buy” and a consensus target price of $76.60.

Wheaton Precious Metals Stock Performance

Shares of WPM opened at $83.39 on Wednesday. The stock has a market capitalization of $37.83 billion, a P/E ratio of 62.23, a P/E/G ratio of 1.91 and a beta of 0.74. Wheaton Precious Metals Corp. has a 1 year low of $49.71 and a 1 year high of $86.12. The company’s fifty day moving average is $72.58 and its two-hundred day moving average is $65.13.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The business had revenue of $380.52 million during the quarter, compared to analysts’ expectations of $395.74 million. During the same period in the prior year, the firm posted $0.36 EPS. Wheaton Precious Metals’s revenue for the quarter was up 21.4% compared to the same quarter last year. Sell-side analysts predict that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Tuesday, April 1st were issued a $0.165 dividend. The ex-dividend date was Tuesday, April 1st. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a yield of 0.79%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 56.90%.

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.