Wheaton Precious Metals Corp. $WPM Shares Purchased by Northern Trust Corp

Key Points

• Northern Trust Corp increased its holdings in Wheaton Precious Metals Corp. by 28.9% in the first quarter, owning approximately 448,909 shares valued at $34.8 million.
• Wheaton Precious Metals reported earnings of $0.63 per share, beating estimates and showing a 68.2% increase in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.165, reflecting an annualized dividend of $0.66 and a yield of 0.7%.

Northern Trust Corp increased its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 28.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 448,909 shares of the company's stock after acquiring an additional 100,645 shares during the period. Northern Trust Corp owned approximately 0.10% of Wheaton Precious Metals worth $34,849,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of WPM. Mackenzie Financial Corp grew its position in shares of Wheaton Precious Metals by 54.4% during the 4th quarter. Mackenzie Financial Corp now owns 3,223,154 shares of the company's stock valued at $181,227,000 after acquiring an additional 1,135,699 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Wheaton Precious Metals by 1,321.7% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,221,522 shares of the company's stock valued at $68,720,000 after acquiring an additional 1,135,603 shares during the period. Perpetual Ltd acquired a new stake in shares of Wheaton Precious Metals during the 1st quarter valued at about $50,430,000. BLI Banque de Luxembourg Investments acquired a new stake in shares of Wheaton Precious Metals during the 4th quarter valued at about $36,127,000. Finally, Nuveen LLC acquired a new stake in shares of Wheaton Precious Metals during the 1st quarter valued at about $36,885,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WPM has been the topic of several research analyst reports. Wall Street Zen cut Wheaton Precious Metals from a "buy" rating to a "hold" rating in a report on Sunday. Berenberg Bank lifted their price objective on Wheaton Precious Metals from $87.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. CIBC reiterated an "outperform" rating on shares of Wheaton Precious Metals in a report on Tuesday, July 15th. Royal Bank Of Canada lifted their price objective on Wheaton Precious Metals from $80.00 to $90.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Finally, UBS Group set a $106.00 price objective on Wheaton Precious Metals and gave the stock a "neutral" rating in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.33.

Wheaton Precious Metals Trading Up 1.1%

Shares of WPM stock traded up $1.14 on Tuesday, reaching $101.56. 3,258,419 shares of the stock were exchanged, compared to its average volume of 1,850,379. The business's 50 day moving average price is $93.18 and its 200 day moving average price is $84.43. The company has a market capitalization of $46.10 billion, a price-to-earnings ratio of 58.71, a PEG ratio of 2.77 and a beta of 0.42. Wheaton Precious Metals Corp. has a twelve month low of $55.47 and a twelve month high of $103.81.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.05. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The company had revenue of $503.22 million during the quarter, compared to the consensus estimate of $424.23 million. During the same quarter in the prior year, the firm posted $0.33 earnings per share. Wheaton Precious Metals's revenue for the quarter was up 68.2% on a year-over-year basis. Equities research analysts forecast that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be issued a $0.165 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.66 dividend on an annualized basis and a yield of 0.6%. Wheaton Precious Metals's dividend payout ratio (DPR) is 38.15%.

Wheaton Precious Metals Profile

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.