Capital World Investors Sells 358,956 Shares of Wheaton Precious Metals Corp. $WPM

Key Points

• Capital World Investors trimmed its Wheaton Precious Metals stake by 1.0% in the fourth quarter, selling 358,956 shares and ending with 37.31 million shares worth about $4.38 billion.
• Wheaton Precious Metals reported better-than-expected Q1 results, with EPS of $1.28 versus $1.24 expected and revenue of $901.47 million, up 91.7% year over year.
• The company announced a quarterly dividend of $0.195 per share, while analysts currently hold a consensus Moderate Buy rating with an average price target of $155.64.

Capital World Investors cut its holdings in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,310,669 shares of the company's stock after selling 358,956 shares during the period. Capital World Investors owned approximately 8.22% of Wheaton Precious Metals worth $4,384,758,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in WPM. Norges Bank bought a new position in shares of Wheaton Precious Metals in the 4th quarter worth about $864,977,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Wheaton Precious Metals by 36.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,955,810 shares of the company's stock worth $777,938,000 after acquiring an additional 1,847,977 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Wheaton Precious Metals by 53.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,197,048 shares of the company's stock worth $469,459,000 after acquiring an additional 1,453,572 shares in the last quarter. Bank of Montreal Can raised its position in shares of Wheaton Precious Metals by 26.1% in the 3rd quarter. Bank of Montreal Can now owns 6,455,675 shares of the company's stock worth $722,270,000 after acquiring an additional 1,335,588 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its position in shares of Wheaton Precious Metals by 1,655.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,245,766 shares of the company's stock worth $139,333,000 after acquiring an additional 1,174,799 shares in the last quarter. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock opened at $116.04 on Friday. Wheaton Precious Metals Corp. has a 52 week low of $85.59 and a 52 week high of $165.76. The stock has a 50 day moving average price of $134.24 and a two-hundred day moving average price of $131.35. The stock has a market capitalization of $52.69 billion, a PE ratio of 29.30, a price-to-earnings-growth ratio of 2.19 and a beta of 0.51.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.24 by $0.04. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The firm had revenue of $901.47 million during the quarter, compared to analysts' expectations of $868.35 million. During the same quarter last year, the firm posted $0.55 earnings per share. The company's revenue for the quarter was up 91.7% compared to the same quarter last year. Research analysts forecast that Wheaton Precious Metals Corp. will post 4.98 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th will be issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, May 27th. Wheaton Precious Metals's payout ratio is currently 19.70%.

Analyst Ratings Changes

Several research firms have recently weighed in on WPM. Zacks Research lowered Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 5th. Wall Street Zen downgraded Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Scotiabank increased their price target on Wheaton Precious Metals from $178.00 to $180.00 and gave the stock an "outperform" rating in a report on Thursday, May 14th. BMO Capital Markets began coverage on Wheaton Precious Metals in a research note on Thursday, April 9th. They issued an "outperform" rating and a $240.00 price objective for the company. Finally, TD Cowen raised their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a "buy" rating in a research note on Monday, March 16th. Thirteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $155.64.

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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