Deutsche Bank AG Buys Shares of 2,763,283 Wheaton Precious Metals Corp. $WPM

Key Points

• Deutsche Bank acquired 2.76 million Wheaton Precious Metals shares in the second quarter, valued at approximately $310.4 million, while institutional investors collectively own 70.34% of the company.
• Analysts maintain a broadly positive outlook, with 12 Buy ratings and one Hold rating, producing a “Moderate Buy” consensus and an average price target of $165.55.
• Wheaton reported strong quarterly results, including $1.19 EPS and 84.7% year-over-year revenue growth to $878 million, and declared a quarterly dividend of $0.195 per share.

Deutsche Bank AG bought a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 2,763,283 shares of the company's stock, valued at approximately $310,372,000. Deutsche Bank AG owned approximately 0.61% of Wheaton Precious Metals as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in Wheaton Precious Metals during the fourth quarter worth about $864,977,000. Arrowstreet Capital Limited Partnership increased its holdings in Wheaton Precious Metals by 40.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,912,588 shares of the company's stock valued at $694,951,000 after buying an additional 1,715,540 shares in the last quarter. Van ECK Associates Corp increased its holdings in Wheaton Precious Metals by 10.7% in the fourth quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company's stock valued at $1,700,517,000 after buying an additional 1,402,092 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in Wheaton Precious Metals by 1,655.4% in the third quarter. Qube Research & Technologies Ltd now owns 1,245,766 shares of the company's stock valued at $139,333,000 after buying an additional 1,174,799 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Wheaton Precious Metals by 2,621.8% during the 4th quarter. AQR Capital Management LLC now owns 903,678 shares of the company's stock valued at $106,239,000 after acquiring an additional 870,476 shares during the period. 70.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on WPM. Berenberg Bank set a $157.00 price target on Wheaton Precious Metals in a research note on Tuesday, July 28th. Scotiabank dropped their price objective 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. Wall Street Zen cut Wheaton Precious Metals from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Bank of America reduced their price objective on Wheaton Precious Metals from $163.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Finally, Weiss Ratings downgraded Wheaton Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $165.55.

Wheaton Precious Metals Stock Down 2.9%

WPM stock opened at $132.69 on Wednesday. The company's 50 day simple moving average is $116.80 and its 200-day simple moving average is $130.20. The firm has a market capitalization of $60.26 billion, a PE ratio of 29.42, a P/E/G ratio of 2.38 and a beta of 0.55. Wheaton Precious Metals Corp. has a 12 month low of $90.94 and a 12 month high of $165.76. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.47 and a quick ratio of 0.47.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.15 by $0.04. Wheaton Precious Metals had a net margin of 64.66% and a return on equity of 21.97%. The business had revenue of $878.00 million during the quarter, compared to analysts' expectations of $879.29 million. During the same period last year, the company posted $0.63 EPS. The company's revenue was up 84.7% on a year-over-year basis. Equities analysts expect that Wheaton Precious Metals Corp. will post 4.79 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. Shareholders of record on Thursday, August 20th will be given a dividend of $0.195 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.78 annualized dividend and a yield of 0.6%. Wheaton Precious Metals's dividend payout ratio (DPR) is presently 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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