2,922,981 Shares in Wheaton Precious Metals Corp. $WPM Bought by Bank of America Corp DE

Key Points

• Bank of America bought 2.92 million shares of Wheaton Precious Metals in the second quarter, worth approximately $328.3 million and representing about 0.64% of the company.
• Institutional investors own 70.34% of Wheaton Precious Metals. Analysts maintain a favorable outlook, with 11 Buy ratings, one Hold rating, and a consensus price target of $166.
• Wheaton reported quarterly EPS of $1.19, exceeding estimates, while revenue rose 84.7% year over year to $878 million. The company also declared a quarterly dividend of $0.195 per share, equivalent to a 0.5% annualized yield.

Bank of America Corp DE bought a new stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,922,981 shares of the company's stock, valued at approximately $328,309,000. Bank of America Corp DE owned about 0.64% of Wheaton Precious Metals at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd raised its holdings in Wheaton Precious Metals by 100.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company's stock valued at $27,000 after buying an additional 117 shares during the period. Cary Street Partners Investment Advisory LLC purchased a new stake in Wheaton Precious Metals during the fourth quarter worth approximately $28,000. Cornerstone Planning Group LLC grew its stake in 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 buying an additional 162 shares during the period. Hollencrest Capital Management grew its stake in Wheaton Precious Metals by 73.5% during the first quarter. Hollencrest Capital Management now owns 236 shares of the company's stock worth $31,000 after buying an additional 100 shares during the period. Finally, Leonteq Securities AG acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter worth $38,000. Hedge funds and other institutional investors own 70.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on WPM shares. Weiss Ratings downgraded shares of Wheaton Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, July 16th. Jefferies Financial Group decreased their price target on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a "buy" rating for the company in a research report on Monday, July 6th. UBS Group lowered their price target on Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Bank of America cut their price objective 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. Finally, Berenberg Bank set a $157.00 price objective on Wheaton Precious Metals in a research note on Tuesday, July 28th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $166.00.

Wheaton Precious Metals Price Performance

WPM opened at $146.70 on Thursday. Wheaton Precious Metals Corp. has a twelve month low of $92.57 and a twelve month high of $165.76. The firm has a market cap of $66.62 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 2.65 and a beta of 0.60. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.20. The company has a fifty day simple moving average of $132.53 and a 200 day simple moving average of $131.47.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.15 by $0.04. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The firm had revenue of $878.00 million for the quarter, compared to analyst estimates of $879.29 million. During the same quarter in the previous year, the business posted $0.63 EPS. The firm's revenue was up 84.7% compared to the same quarter last year. Equities research analysts expect that Wheaton Precious Metals Corp. will post 4.79 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were issued a dividend of $0.195 per share. The ex-dividend date was Thursday, August 20th. This represents a $0.78 annualized dividend and a yield of 0.5%. Wheaton Precious Metals's payout ratio is currently 17.29%.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. NYSE: WPM is a precious metals streaming company headquartered in Vancouver, British Columbia. Rather than operating mines directly, the company provides upfront financing to mining companies in exchange for the right to purchase a portion of the future production from specific mining projects at predetermined prices.

Wheaton's streaming portfolio is primarily focused on gold and silver, with additional exposure to palladium and cobalt through certain agreements.

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