Employees Retirement System of Texas Makes New Investment in Wheaton Precious Metals Corp. (NYSE:WPM)

Employees Retirement System of Texas acquired a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 13,870 shares of the company's stock, valued at approximately $780,000.

Several other hedge funds have also bought and sold shares of WPM. Promus Capital LLC bought a new position in shares of Wheaton Precious Metals during the 4th quarter valued at approximately $32,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Wheaton Precious Metals during the fourth quarter worth approximately $38,000. Quintet Private Bank Europe S.A. bought a new stake in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $39,000. Headlands Technologies LLC increased its holdings in Wheaton Precious Metals by 494.9% during the 4th quarter. Headlands Technologies LLC now owns 696 shares of the company's stock worth $39,000 after purchasing an additional 579 shares during the period. Finally, Flagship Wealth Advisors LLC purchased a new stake in shares of Wheaton Precious Metals in the 4th quarter worth $41,000. Hedge funds and other institutional investors own 70.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on WPM shares. Stifel Canada raised shares of Wheaton Precious Metals from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. CIBC lifted their price objective on shares of Wheaton Precious Metals from $95.00 to $105.00 and gave the stock an "outperformer" rating in a research report on Friday, May 9th. UBS Group raised their price target on Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Wall Street Zen raised Wheaton Precious Metals from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Finally, BMO Capital Markets began coverage on Wheaton Precious Metals in a research report on Wednesday, April 16th. They issued an "outperform" rating and a $129.00 target price on the stock. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Wheaton Precious Metals currently has an average rating of "Buy" and a consensus price target of $85.90.

Wheaton Precious Metals Stock Performance

Shares of NYSE WPM traded down $0.03 during midday trading on Thursday, reaching $86.14. 976,289 shares of the stock were exchanged, compared to its average volume of 1,676,446. The stock has a market capitalization of $39.09 billion, a P/E ratio of 64.29, a PEG ratio of 1.91 and a beta of 0.49. The company has a 50 day simple moving average of $80.32 and a 200 day simple moving average of $69.20. Wheaton Precious Metals Corp. has a twelve month low of $51.96 and a twelve month high of $87.42.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.05. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The business had revenue of $470.41 million for the quarter, compared to analyst estimates of $446.33 million. During the same period last year, the business earned $0.36 EPS. The company's revenue was up 58.4% on a year-over-year basis. On average, research analysts expect 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 announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Wednesday, May 28th. Wheaton Precious Metals's dividend payout ratio (DPR) is presently 48.53%.

About Wheaton Precious Metals

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.