Wilmington Savings Fund Society FSB Buys 5,000 Shares of Wheaton Precious Metals Corp. $WPM

Wilmington Savings Fund Society FSB grew its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 16.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,000 shares of the company’s stock after purchasing an additional 5,000 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Wheaton Precious Metals were worth $3,914,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. West Family Investments Inc. purchased a new position in Wheaton Precious Metals during the 2nd quarter valued at approximately $247,000. Norges Bank bought a new stake in Wheaton Precious Metals in the second quarter worth $656,463,000. Voya Investment Management LLC raised its stake in Wheaton Precious Metals by 7.4% during the third quarter. Voya Investment Management LLC now owns 246,827 shares of the company’s stock valued at $27,608,000 after purchasing an additional 16,908 shares in the last quarter. Louisbourg Investments Inc. lifted its position in Wheaton Precious Metals by 72.9% during the second quarter. Louisbourg Investments Inc. now owns 115,846 shares of the company’s stock valued at $10,398,000 after purchasing an additional 48,852 shares during the last quarter. Finally, State of Wyoming bought a new position in Wheaton Precious Metals during the second quarter valued at $782,000. 70.34% of the stock is currently owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

Shares of WPM stock opened at $135.46 on Friday. The stock has a 50 day moving average price of $114.55 and a 200 day moving average price of $104.46. Wheaton Precious Metals Corp. has a 52-week low of $56.70 and a 52-week high of $135.72. The firm has a market capitalization of $61.50 billion, a P/E ratio of 61.57, a P/E/G ratio of 1.31 and a beta of 0.52.

Wheaton Precious Metals (NYSE:WPM) last released its earnings results on Thursday, November 6th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.03. The business had revenue of $476.26 million during the quarter, compared to the consensus estimate of $495.53 million. Wheaton Precious Metals had a return on equity of 13.32% and a net margin of 54.72%.The business’s revenue for the quarter was up 54.5% compared to the same quarter last year. During the same period last year, the company earned $0.34 earnings per share. As a group, sell-side analysts forecast that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, November 20th. Wheaton Precious Metals’s payout ratio is 30.00%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Monday, December 29th. Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. CIBC raised their price objective on Wheaton Precious Metals from $135.00 to $160.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. Royal Bank Of Canada upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $115.00 to $130.00 in a report on Wednesday, December 10th. Finally, Scotiabank restated an “outperform” rating on shares of Wheaton Precious Metals in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $130.78.

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.