Alberta Investment Management Corp Takes $25.05 Million Position in Wheaton Precious Metals Corp. $WPM

Key Points

• Alberta Investment Management Corp. acquired 222,924 shares of Wheaton Precious Metals worth approximately $25.05 million, while other institutions also initiated positions. Institutional investors now own 70.34% of the company.
• Wheaton reported quarterly EPS of $1.19, surpassing estimates of $1.15, while revenue rose 84.7% year over year to $878 million. The company posted a 64.66% net margin and analysts forecast full-year EPS of $4.79.
• The company declared a quarterly dividend of $0.195 per share, equal to $0.78 annually and a 0.6% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $165.55 versus the shares’ reported $134.25 price.

Alberta Investment Management Corp acquired a new position 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 institutional investor acquired 222,924 shares of the company's stock, valued at approximately $25,052,000.

Several other institutional investors have also recently made changes to their positions in the business. Fielder Capital Group LLC acquired a new stake in Wheaton Precious Metals during the 2nd quarter worth about $2,414,000. Silverlake Wealth Management LLC acquired a new stake in Wheaton Precious Metals during the second quarter worth about $411,000. Bank of New York Mellon Corp purchased a new position in Wheaton Precious Metals during the second quarter valued at approximately $53,434,000. Focus Partners Advisor Solutions LLC acquired a new position in Wheaton Precious Metals in the second quarter valued at approximately $2,255,000. Finally, State of Wyoming acquired a new position in Wheaton Precious Metals in the second quarter valued at approximately $307,000. Hedge funds and other institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Trading Up 0.0%

Shares of WPM opened at $134.25 on Monday. Wheaton Precious Metals Corp. has a 52-week low of $90.94 and a 52-week high of $165.76. The stock has a market cap of $60.97 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 2.38 and a beta of 0.55. The firm's fifty day moving average is $115.96 and its two-hundred day moving average is $130.45. 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 issued its earnings results on Thursday, August 6th. The company reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.04. The business had revenue of $878.00 million during the quarter, compared to analysts' expectations of $879.29 million. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The company's quarterly revenue was up 84.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.63 earnings per share. Research analysts forecast that Wheaton Precious Metals Corp. will post 4.79 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders 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 dividend on an annualized basis and a yield of 0.6%. Wheaton Precious Metals's dividend payout ratio is presently 17.29%.

Analysts Set New Price Targets

Several equities research analysts have commented on WPM shares. Wall Street Zen lowered Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Bank of America cut 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. 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 note on Thursday, July 9th. Berenberg Bank set a $157.00 price target on shares of Wheaton Precious Metals in a report on Tuesday, July 28th. Finally, UBS Group dropped their price target on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price 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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