Canada Pension Plan Investment Board Purchases 766,947 Shares of Wheaton Precious Metals Corp. $WPM

Key Points

• Canada Pension Plan Investment Board increased its stake in Wheaton Precious Metals Corp. by 57.6%, owning over 2 million shares valued at approximately $162.8 million.
• Several institutional investors have also boosted their holdings in Wheaton Precious Metals, with hedge funds owning 70.34% of the stock.
• Wheaton Precious Metals announced a quarterly dividend of $0.165, reflecting a 0.7% dividend yield, with payments scheduled for September 4th.

Canada Pension Plan Investment Board boosted its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 57.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,097,735 shares of the company's stock after purchasing an additional 766,947 shares during the quarter. Canada Pension Plan Investment Board owned 0.46% of Wheaton Precious Metals worth $162,811,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of Wheaton Precious Metals by 8.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 621,196 shares of the company's stock valued at $34,936,000 after buying an additional 50,014 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Wheaton Precious Metals by 24.2% in the 4th quarter. Northern Trust Corp now owns 348,264 shares of the company's stock worth $19,586,000 after purchasing an additional 67,816 shares during the last quarter. Lido Advisors LLC bought a new stake in shares of Wheaton Precious Metals in the 4th quarter worth about $363,000. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Wheaton Precious Metals by 1,321.7% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,221,522 shares of the company's stock worth $68,720,000 after purchasing an additional 1,135,603 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its holdings in shares of Wheaton Precious Metals by 7.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,577 shares of the company's stock worth $482,000 after purchasing an additional 606 shares during the last quarter. Institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Stock Performance

Shares of WPM stock traded up $1.14 on Tuesday, hitting $101.56. The company's stock had a trading volume of 3,258,419 shares, compared to its average volume of 1,850,379. The stock's 50 day moving average is $93.18 and its 200-day moving average is $84.43. Wheaton Precious Metals Corp. has a fifty-two week low of $55.47 and a fifty-two week high of $103.81. The company has a market capitalization of $46.10 billion, a PE ratio of 58.71, a PEG ratio of 2.77 and a beta of 0.42.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The business had revenue of $503.22 million for the quarter, compared to the consensus estimate of $424.23 million. During the same period in the prior year, the company posted $0.33 earnings per share. Wheaton Precious Metals's revenue was up 68.2% compared to the same quarter last year. On average, research analysts forecast that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be paid a $0.165 dividend. The ex-dividend date is Thursday, August 21st. This represents a $0.66 annualized dividend and a dividend yield of 0.6%. Wheaton Precious Metals's dividend payout ratio is 38.15%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. BMO Capital Markets restated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. Royal Bank Of Canada lifted their price target on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. UBS Group set a $106.00 price target on shares of Wheaton Precious Metals and gave the stock a "neutral" rating in a research report on Monday, August 11th. Berenberg Bank lifted their price objective on shares of Wheaton Precious Metals from $87.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Finally, Scotiabank lifted their price target on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Wheaton Precious Metals currently has a consensus rating of "Moderate Buy" and a consensus target price of $97.33.

Wheaton Precious Metals Company Profile

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.