Northwest & Ethical Investments L.P. Acquires 36,892 Shares of Wheaton Precious Metals Corp. $WPM

Key Points

• Northwest & Ethical Investments L.P. has increased its shares in Wheaton Precious Metals Corp. by 45.8%, now holding a total of 117,399 shares valued at approximately $9.12 million.
• Wheaton Precious Metals reported an earnings per share (EPS) of $0.63 for the last quarter, exceeding analyst expectations of $0.58, with revenue rising 68.2% year-over-year to $503.22 million.
• The company recently declared a quarterly dividend of $0.165 per share, representing an annual yield of 0.7%, with a payout ratio of 38.15%.

Northwest & Ethical Investments L.P. raised its stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 45.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,399 shares of the company's stock after acquiring an additional 36,892 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Wheaton Precious Metals were worth $9,116,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NBT Bank N A NY increased its position in Wheaton Precious Metals by 129.3% in the 1st quarter. NBT Bank N A NY now owns 415 shares of the company's stock valued at $32,000 after acquiring an additional 234 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Wheaton Precious Metals in the 1st quarter valued at about $49,000. Princeton Global Asset Management LLC acquired a new stake in Wheaton Precious Metals in the 1st quarter valued at about $52,000. Penserra Capital Management LLC increased its position in Wheaton Precious Metals by 1,812.8% in the 1st quarter. Penserra Capital Management LLC now owns 746 shares of the company's stock valued at $57,000 after acquiring an additional 707 shares in the last quarter. Finally, Whittier Trust Co. increased its position in Wheaton Precious Metals by 77.4% in the 1st quarter. Whittier Trust Co. now owns 763 shares of the company's stock valued at $59,000 after acquiring an additional 333 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. UBS Group set a $106.00 price objective on shares of Wheaton Precious Metals and gave the company a "neutral" rating in a research report on Monday, August 11th. Scotiabank raised their target price on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 12th. CIBC reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, July 15th. Berenberg Bank raised their target price on shares of Wheaton Precious Metals from $87.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Finally, Wall Street Zen lowered shares of Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $97.33.

Wheaton Precious Metals Stock Up 1.1%

NYSE WPM traded up $1.03 during trading on Thursday, reaching $94.27. 1,281,366 shares of the stock traded hands, compared to its average volume of 1,850,961. Wheaton Precious Metals Corp. has a fifty-two week low of $55.47 and a fifty-two week high of $103.81. The firm has a market cap of $42.79 billion, a price-to-earnings ratio of 54.49, a price-to-earnings-growth ratio of 2.53 and a beta of 0.39. The stock's 50-day moving average price is $92.18 and its 200 day moving average price is $82.50.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. The company had revenue of $503.22 million for the quarter, compared to analyst estimates of $424.23 million. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The business's revenue for the quarter was up 68.2% compared to the same quarter last year. During the same period last year, the business posted $0.33 earnings per share. Analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 21st. Wheaton Precious Metals's payout ratio is presently 38.15%.

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.