Sumitomo Mitsui Trust Group Inc. Has $1.42 Million Position in Wheaton Precious Metals Corp. $WPM

Sumitomo Mitsui Trust Group Inc. lessened its holdings in Wheaton Precious Metals Corp. (NYSE:WPM) by 32.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,852 shares of the company’s stock after selling 5,111 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Wheaton Precious Metals were worth $1,422,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in WPM. Vanguard Group Inc. increased its position in Wheaton Precious Metals by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 19,079,029 shares of the company’s stock valued at $2,242,969,000 after acquiring an additional 289,939 shares during the period. Van ECK Associates Corp grew its stake in shares of Wheaton Precious Metals by 10.7% in the fourth quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company’s stock worth $1,700,517,000 after purchasing an additional 1,402,092 shares during the last quarter. Capital International Investors increased its holdings in Wheaton Precious Metals by 1.2% in the fourth quarter. Capital International Investors now owns 7,595,725 shares of the company’s stock valued at $892,650,000 after purchasing an additional 93,599 shares during the period. Norges Bank acquired a new stake in Wheaton Precious Metals in the fourth quarter valued at $864,977,000. Finally, TD Asset Management Inc raised its position in Wheaton Precious Metals by 0.5% during the 4th quarter. TD Asset Management Inc now owns 7,285,275 shares of the company’s stock worth $857,598,000 after purchasing an additional 33,221 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Trading Up 0.1%

WPM stock opened at $108.59 on Thursday. The firm has a market cap of $49.32 billion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 1.93 and a beta of 0.55. The stock has a 50-day moving average price of $121.78 and a 200-day moving average price of $132.28. Wheaton Precious Metals Corp. has a 1-year low of $87.96 and a 1-year high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Thursday, May 7th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.24 by $0.04. The company had revenue of $901.47 million for the quarter, compared to analyst estimates of $868.35 million. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The firm’s revenue for the quarter was up 91.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.55 EPS. On average, analysts forecast that Wheaton Precious Metals Corp. will post 4.8 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were given a dividend of $0.195 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 19.70%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Bank of America reduced their price target on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Scotiabank cut their price objective on Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating on the stock in a research note on Tuesday. Jefferies Financial Group reduced their target price on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Royal Bank Of Canada decreased their target price on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Finally, BMO Capital Markets assumed coverage on shares of Wheaton Precious Metals in a report on Thursday, April 9th. They set an “outperform” rating and a $240.00 price target for the company. Twelve investment 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, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and an average target price of $161.09.

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.