3,129,681 Shares in Wheaton Precious Metals Corp. $WPM Purchased by Canada Pension Plan Investment Board

Key Points

• Canada Pension Plan Investment Board acquired 3,129,681 shares of Wheaton Precious Metals in the second quarter, valued at approximately $351.7 million and representing about 0.69% of the company.
• Wheaton reported quarterly earnings of $1.19 per share, beating estimates, while revenue rose 84.7% year over year to $878 million. The company also declared a quarterly dividend of $0.195 per share.
• Shares opened at $163.66, near their 52-week high, and analysts maintain a “Moderate Buy” consensus with an average price target of $165.55.

Canada Pension Plan Investment Board acquired a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,129,681 shares of the company's stock, valued at approximately $351,708,000. Canada Pension Plan Investment Board owned about 0.69% of Wheaton Precious Metals at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Assetmark Inc. increased its position in shares of Wheaton Precious Metals by 144.4% during the 4th quarter. Assetmark Inc. now owns 220 shares of the company's stock valued at $26,000 after purchasing an additional 130 shares during the last quarter. Harvest Fund Management Co. Ltd raised its holdings 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 valued at $27,000 after buying an additional 117 shares during the period. Cary Street Partners Investment Advisory LLC bought a new stake in Wheaton Precious Metals in the fourth quarter worth $28,000. Cornerstone Planning Group LLC lifted its position in Wheaton Precious Metals by 245.5% in 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 last quarter. Finally, Navalign LLC purchased a new position in Wheaton Precious Metals during the fourth quarter worth $30,000. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock opened at $163.66 on Wednesday. The stock's fifty day moving average is $120.62 and its two-hundred day moving average is $130.80. The company has a market capitalization of $74.33 billion, a PE ratio of 36.29, a price-to-earnings-growth ratio of 2.83 and a beta of 0.55. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.20. Wheaton Precious Metals Corp. has a 52 week low of $92.57 and a 52 week high of $165.76.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.04. The business 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 business's revenue for the quarter was up 84.7% compared to the same quarter last year. During the same period last year, the company earned $0.63 earnings per share. As a group, analysts expect that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

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

Analysts Set New Price Targets

WPM has been the topic of a number of analyst reports. Weiss Ratings cut shares of Wheaton Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, July 16th. Bank of America lowered their target price on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, July 9th. UBS Group dropped their price target on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. Wall Street Zen lowered shares of Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, Berenberg Bank set a $157.00 price objective on shares of Wheaton Precious Metals in a research note on Tuesday, July 28th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from 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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