Keybank National Association OH Sells 10,556 Shares of Wheaton Precious Metals Corp. $WPM

Key Points

• KeyBank National Association (OH) trimmed its stake in Wheaton Precious Metals by 4.0%, selling 10,556 shares and leaving it with 254,461 shares worth about $29.9 million (0.06% of the company).
• Wheaton reported a strong quarter—$1.22 EPS vs. $0.91 expected and revenue of $864.7M (up 127% YoY)—and raised its quarterly dividend to $0.195 (annualized $0.78, 0.6% yield).
• Analysts are broadly positive with a consensus rating of Moderate Buy (13 Buys, 1 Hold) and a consensus price target of $155.45, though the stock recently traded around $124.58 and was down 3.8% on the day.

Keybank National Association OH cut its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 254,461 shares of the company's stock after selling 10,556 shares during the quarter. Keybank National Association OH owned 0.06% of Wheaton Precious Metals worth $29,904,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Wheaton Precious Metals by 36.2% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,955,810 shares of the company's stock valued at $777,938,000 after purchasing an additional 1,847,977 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Wheaton Precious Metals by 53.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 4,197,048 shares of the company's stock valued at $469,459,000 after purchasing an additional 1,453,572 shares in the last quarter. Bank of Montreal Can grew its stake in Wheaton Precious Metals by 26.1% in the third quarter. Bank of Montreal Can now owns 6,455,675 shares of the company's stock valued at $722,270,000 after purchasing an additional 1,335,588 shares in the last quarter. Qube Research & Technologies Ltd grew its stake 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 purchasing an additional 1,174,799 shares in the last quarter. Finally, Capital Research Global Investors grew its stake in Wheaton Precious Metals by 158.1% in the third quarter. Capital Research Global Investors now owns 1,458,898 shares of the company's stock valued at $163,224,000 after purchasing an additional 893,733 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WPM has been the subject of a number of analyst reports. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Wednesday, February 4th. TD Cowen raised 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. TD Securities raised 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. Scotiabank raised their price target on Wheaton Precious Metals from $175.00 to $178.00 and gave the company a "sector outperform" rating in a research note on Monday, March 16th. Finally, BMO Capital Markets initiated coverage on Wheaton Precious Metals in a research note on Thursday, April 9th. They issued an "outperform" rating and a $240.00 price target for the company. Thirteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $155.45.

Wheaton Precious Metals Stock Down 3.8%

WPM opened at $124.58 on Thursday. Wheaton Precious Metals Corp. has a 12-month low of $75.42 and a 12-month high of $165.76. The stock has a market cap of $56.57 billion, a price-to-earnings ratio of 38.45, a PEG ratio of 2.97 and a beta of 0.60. The business has a 50 day moving average of $140.79 and a 200-day moving average of $126.19.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings data on Thursday, March 12th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.31. Wheaton Precious Metals had a return on equity of 17.17% and a net margin of 63.58%.The company had revenue of $864.71 million during the quarter, compared to analysts' expectations of $719.59 million. During the same period last year, the firm posted $0.44 earnings per share. The business's revenue was up 127.3% on a year-over-year basis. As a group, analysts expect that Wheaton Precious Metals Corp. will post 4.72 earnings per share for the current year.

Wheaton Precious Metals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st were given a $0.195 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This is a positive change from Wheaton Precious Metals's previous quarterly dividend of $0.17. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.6%. Wheaton Precious Metals's payout ratio is 24.07%.

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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