538,689 Shares in Wheaton Precious Metals Corp. $WPM Purchased by Caisse de depot et placement du Quebec

Key Points

• Caisse de dépôt et placement du Québec purchased 538,689 shares of Wheaton Precious Metals, valued at approximately $60.6 million, giving it a 0.12% stake. Institutional investors collectively own 70.34% of the company.
• Analysts maintain a positive outlook, with 12 Buy ratings and one Hold rating. Wheaton has a consensus rating of “Moderate Buy” and an average price target of $165.55, despite several recent target-price reductions.
• Wheaton reported quarterly EPS of $1.19, 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, equivalent to a 0.5% annualized yield.

Caisse de depot et placement du Quebec bought a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 538,689 shares of the company's stock, valued at approximately $60,576,000. Caisse de depot et placement du Quebec owned 0.12% of Wheaton Precious Metals as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the business. Harvest Fund Management Co. Ltd boosted its position in shares of Wheaton Precious Metals by 100.0% in 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. Cary Street Partners Investment Advisory LLC bought a new position in Wheaton Precious Metals during the 4th quarter valued at approximately $28,000. Cornerstone Planning Group LLC raised 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 valued at $29,000 after buying an additional 162 shares during the last quarter. Navalign LLC bought a new stake in Wheaton Precious Metals in the fourth quarter worth $30,000. Finally, Hollencrest Capital Management grew its stake in shares of Wheaton Precious Metals by 73.5% in the first quarter. Hollencrest Capital Management now owns 236 shares of the company's stock worth $31,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 70.34% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on WPM. UBS Group decreased their target price on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Wall Street Zen downgraded Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Jefferies Financial Group lowered their price target 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. Bank of America lowered their price objective on shares of 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, Royal Bank Of Canada cut 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. Twelve 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 has a consensus rating of "Moderate Buy" and a consensus target price of $165.55.

Wheaton Precious Metals Trading Up 1.4%

Wheaton Precious Metals stock opened at $158.26 on Friday. The business has a 50-day simple moving average of $121.93 and a two-hundred day simple moving average of $131.13. The company has a market cap of $71.88 billion, a P/E ratio of 35.09, a P/E/G ratio of 2.76 and a beta of 0.55. Wheaton Precious Metals Corp. has a 52-week low of $92.57 and a 52-week high of $165.76. 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 (NYSE:WPM - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.04. The company had revenue of $878.00 million for the quarter, compared to the consensus estimate of $879.29 million. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The firm's revenue was up 84.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 earnings per share. Analysts predict that Wheaton Precious Metals Corp. will post 4.79 EPS for the current year.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.195 per share. 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 payout ratio is currently 17.29%.

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.

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