216,128 Shares in Wheaton Precious Metals Corp. $WPM Acquired by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio acquired 216,128 shares of Wheaton Precious Metals worth approximately $24.3 million, while institutional investors collectively own 70.34% of the company.
• Wheaton reported quarterly EPS of $1.19, exceeding estimates of $1.15, and revenue rose 84.7% year over year to $878 million. Analysts expect full-year EPS of $4.79.
• The company declared a quarterly dividend of $0.195 per share, representing an annualized payout of $0.78 and a 0.5% yield; analysts maintain a consensus “Moderate Buy” rating with an average price target of $165.55.

Public Employees Retirement System of Ohio bought a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 216,128 shares of the company's stock, valued at approximately $24,298,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC increased its position in shares of Wheaton Precious Metals by 245.5% during the first quarter. Cornerstone Planning Group LLC now owns 228 shares of the company's stock worth $29,000 after acquiring an additional 162 shares during the period. Harvest Fund Management Co. Ltd grew its stake in Wheaton Precious Metals by 100.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company's stock worth $27,000 after purchasing an additional 117 shares in the last quarter. Hollencrest Capital Management increased its holdings in Wheaton Precious Metals by 73.5% during the 1st quarter. Hollencrest Capital Management now owns 236 shares of the company's stock worth $31,000 after purchasing an additional 100 shares during the period. Cary Street Partners Investment Advisory LLC acquired a new stake in Wheaton Precious Metals in the 4th quarter valued at about $28,000. Finally, Navalign LLC purchased a new position in shares of Wheaton Precious Metals in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Price Performance

Shares of NYSE WPM opened at $153.48 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.47 and a current ratio of 0.47. Wheaton Precious Metals Corp. has a fifty-two week low of $92.57 and a fifty-two week high of $165.76. The firm has a market capitalization of $69.70 billion, a PE ratio of 34.03, a price-to-earnings-growth ratio of 2.71 and a beta of 0.55. The stock's 50-day simple moving average is $122.54 and its 200-day simple moving average is $131.28.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.04. The firm had revenue of $878.00 million during the quarter, compared to the consensus estimate of $879.29 million. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%.The firm's quarterly revenue was up 84.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 earnings per share. As a group, equities research analysts forecast that Wheaton Precious Metals Corp. will post 4.79 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be issued a $0.195 dividend. The ex-dividend date is Thursday, August 20th. This represents a $0.78 annualized dividend and a dividend yield of 0.5%. Wheaton Precious Metals's dividend payout ratio is presently 17.29%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. UBS Group reduced their target price on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Weiss Ratings cut shares of Wheaton Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 16th. Scotiabank dropped their price objective on shares of Wheaton Precious Metals from $180.00 to $175.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, July 14th. Jefferies Financial Group reduced their price objective on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a "buy" rating on the stock in a report on Monday, July 6th. Finally, Bank of America decreased their price objective on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Wheaton Precious Metals currently has a consensus rating of "Moderate Buy" and an average price target of $165.55.

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.

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