Bank of Nova Scotia Makes New Investment in Wheaton Precious Metals Corp. $WPM

Key Points

• Bank of Nova Scotia acquired 1.13 million Wheaton Precious Metals shares in the second quarter, worth approximately $127.2 million and representing about 0.25% of the company.
• Wheaton reported quarterly EPS of $1.19, beating estimates, while revenue surged 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% yield.
• Analysts maintain a broadly positive outlook, with 12 Buy ratings and a consensus price target of $165.55, although some firms have reduced targets and future earnings estimates. Wheaton is targeting approximately 30% production growth in 2026.

Bank of Nova Scotia bought a new position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,131,059 shares of the company's stock, valued at approximately $127,224,000. Bank of Nova Scotia owned approximately 0.25% of Wheaton Precious Metals as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of WPM. Assetmark Inc. boosted its holdings in Wheaton Precious Metals by 144.4% in the 4th quarter. Assetmark Inc. now owns 220 shares of the company's stock worth $26,000 after buying an additional 130 shares during the period. 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 acquiring an additional 117 shares during the period. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Wheaton Precious Metals during the fourth quarter worth $28,000. Cornerstone Planning Group LLC lifted 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 in the last quarter. Finally, Navalign LLC purchased a new stake in shares of Wheaton Precious Metals during the fourth quarter worth $30,000. Institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock opened at $157.80 on Friday. The stock has a market cap of $71.67 billion, a price-to-earnings ratio of 34.99, a PEG ratio of 2.79 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. The business has a 50-day simple moving average of $119.19 and a 200 day simple moving average of $130.48. 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 issued 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. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%.The firm had revenue of $878.00 million during the quarter, compared to the consensus estimate of $879.29 million. During the same quarter last year, the company posted $0.63 EPS. The company's revenue for the quarter was up 84.7% on a year-over-year basis. On average, research analysts forecast that Wheaton Precious Metals Corp. will post 4.8 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently declared 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 of this dividend is Thursday, August 20th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.5%. Wheaton Precious Metals's dividend payout ratio is presently 17.29%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WPM. Royal Bank Of Canada reduced their price target on 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. UBS Group cut their target price on 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. Scotiabank cut their target price on Wheaton Precious Metals from $180.00 to $175.00 and set a "sector outperform" rating for the company in a research note on Tuesday, July 14th. Berenberg Bank set a $157.00 price target on Wheaton Precious Metals in a research report on Tuesday, July 28th. Finally, Wall Street Zen cut Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Wheaton Precious Metals currently has an average rating of "Moderate Buy" and a consensus price target of $165.55.

Wheaton Precious Metals News Roundup

Here are the key news stories impacting Wheaton Precious Metals this week:

• Positive Sentiment: Production growth outlook supports the shares: Wheaton is targeting a roughly 30% increase in production in 2026, driven by the Antamina asset, project ramp-ups and broader portfolio growth. Meeting that target could increase streaming revenue and strengthen earnings momentum. Can Wheaton Precious Metals Meet Its Upbeat 2026 Production Guidance?
• Positive Sentiment: Scotiabank raised its forecast and maintained an outperform view: The bank increased its FY2026 EPS estimate to $4.83 from $4.74, above the $4.80 consensus, and kept a “Sector Outperform” rating with a $175 price target. Wheaton Precious Metals analyst coverage
• Positive Sentiment: Zacks Research made a modest upward revision to its Q4 2026 EPS forecast, to $1.19 from $1.18, indicating limited near-term improvement in expectations.
• Neutral Sentiment: The stock’s recent strength reflects investor interest in precious-metals exposure and Wheaton’s high-margin streaming model, but its elevated valuation leaves performance sensitive to commodity prices and changes in earnings expectations.
• Negative Sentiment: Zacks lowered estimates across several future periods: FY2027 EPS was cut to $4.31 from $5.13, FY2028 EPS to $4.62 from $5.27, Q3 2026 to $1.05 from $1.14, Q1 2027 to $1.20 from $1.29, Q2 2027 to $1.10 from $1.13, Q3 2027 to $0.99 from $1.28, Q4 2027 to $1.01 from $1.43, and Q1 2028 to $1.19 from $1.41. These reductions signal softer projected earnings growth and are a headwind for the stock.

Wheaton Precious Metals 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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