Employees Retirement System of Texas Has $9.67 Million Stake in Wheaton Precious Metals Corp. $WPM

Key Points

• Employees Retirement System of Texas nearly doubled its stake in Wheaton Precious Metals in the fourth quarter, increasing holdings by 94.5% to 82,294 shares valued at about $9.67 million.
• Institutional ownership remains strong, with hedge funds and other institutions holding 70.34% of Wheaton Precious Metals’ shares, and several other firms also slightly boosted their positions.
• Analysts are broadly bullish on the stock: Wheaton Precious Metals has a Moderate Buy consensus, a consensus price target of $155.64, and the company recently beat quarterly earnings and revenue estimates while declaring a quarterly dividend of $0.195 per share.

Employees Retirement System of Texas lifted its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 94.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,294 shares of the company's stock after buying an additional 39,976 shares during the quarter. Employees Retirement System of Texas' holdings in Wheaton Precious Metals were worth $9,671,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Concurrent Investment Advisors LLC lifted its position in Wheaton Precious Metals by 1.9% during the fourth quarter. Concurrent Investment Advisors LLC now owns 4,203 shares of the company's stock worth $494,000 after buying an additional 78 shares in the last quarter. Gables Capital Management Inc. lifted its position in Wheaton Precious Metals by 7.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,079 shares of the company's stock worth $127,000 after buying an additional 79 shares in the last quarter. Focus Financial Network Inc. lifted its position in Wheaton Precious Metals by 2.5% during the fourth quarter. Focus Financial Network Inc. now owns 3,305 shares of the company's stock worth $388,000 after buying an additional 81 shares in the last quarter. Jamison Private Wealth Management Inc. lifted its position in Wheaton Precious Metals by 1.7% during the fourth quarter. Jamison Private Wealth Management Inc. now owns 5,375 shares of the company's stock worth $632,000 after buying an additional 92 shares in the last quarter. Finally, Capital Investment Advisors LLC raised its position in Wheaton Precious Metals by 3.9% in the fourth quarter. Capital Investment Advisors LLC now owns 2,460 shares of the company's stock valued at $289,000 after purchasing an additional 93 shares during the period. Institutional investors and hedge funds own 70.34% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. BMO Capital Markets assumed coverage on Wheaton Precious Metals in a research note on Thursday, April 9th. They issued an "outperform" rating and a $240.00 price target on the stock. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research note on Wednesday, February 4th. Zacks Research lowered Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 5th. TD Securities upped their price target 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. Finally, UBS Group raised Wheaton Precious Metals from a "neutral" rating to a "buy" rating and set a $160.00 price target on the stock in a research note on Friday, March 27th. Thirteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $155.64.

Wheaton Precious Metals Price Performance

WPM opened at $130.27 on Wednesday. The business has a fifty day moving average price of $133.92 and a 200 day moving average price of $130.16. The stock has a market capitalization of $59.16 billion, a price-to-earnings ratio of 32.90, a PEG ratio of 2.39 and a beta of 0.50. Wheaton Precious Metals Corp. has a 12 month low of $84.46 and a 12 month high of $165.76.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.04. The business had revenue of $901.47 million during the quarter, compared to analysts' expectations of $868.35 million. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The business's quarterly revenue was up 91.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.55 EPS. On average, research analysts anticipate that Wheaton Precious Metals Corp. will post 4.97 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th will be given a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, May 27th. Wheaton Precious Metals's dividend payout ratio is currently 19.70%.

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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