Ontario Teachers Pension Plan Board Grows Stock Position in Wheaton Precious Metals Corp. (NYSE:WPM)

Key Points

• The Ontario Teachers Pension Plan Board significantly increased its stake in Wheaton Precious Metals Corp. by 161.5% during the first quarter, bringing its total holdings to 56,291 shares valued at approximately $4.37 million.
• Wheaton Precious Metals reported a better-than-expected quarterly earnings of $0.55 EPS, surpassing analysts' estimates of $0.50, with revenues rising 58.4% year-over-year.
• The company's latest quarterly dividend of $0.165 was paid on June 10th, reflecting an annualized yield of 0.7% and a payout ratio of 48.53%.

Ontario Teachers Pension Plan Board grew its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 161.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,291 shares of the company's stock after buying an additional 34,761 shares during the period. Ontario Teachers Pension Plan Board's holdings in Wheaton Precious Metals were worth $4,369,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Orion Portfolio Solutions LLC grew its stake in Wheaton Precious Metals by 4.4% in the 4th quarter. Orion Portfolio Solutions LLC now owns 6,120 shares of the company's stock valued at $344,000 after buying an additional 258 shares in the last quarter. Headlands Technologies LLC boosted its holdings in shares of Wheaton Precious Metals by 494.9% in the fourth quarter. Headlands Technologies LLC now owns 696 shares of the company's stock worth $39,000 after acquiring an additional 579 shares during the period. ExodusPoint Capital Management LP bought a new position in shares of Wheaton Precious Metals in the fourth quarter worth $721,000. Envestnet Asset Management Inc. grew its position in shares of Wheaton Precious Metals by 10.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 69,139 shares of the company's stock valued at $3,888,000 after purchasing an additional 6,783 shares in the last quarter. Finally, Cerity Partners LLC grew its position in shares of Wheaton Precious Metals by 11.1% in the fourth quarter. Cerity Partners LLC now owns 19,213 shares of the company's stock valued at $1,102,000 after purchasing an additional 1,923 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Trading Up 0.6%

WPM stock opened at $98.60 on Thursday. The company's 50 day moving average is $90.99 and its 200 day moving average is $80.06. The stock has a market cap of $44.76 billion, a price-to-earnings ratio of 72.50, a price-to-earnings-growth ratio of 2.74 and a beta of 0.39. Wheaton Precious Metals Corp. has a 1-year low of $53.05 and a 1-year high of $98.66.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.05. The firm had revenue of $470.41 million for the quarter, compared to analyst estimates of $446.33 million. Wheaton Precious Metals had a net margin of 42.45% and a return on equity of 10.32%. The business's revenue for the quarter was up 58.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.36 EPS. As a group, sell-side analysts forecast that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were 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 was Wednesday, May 28th. Wheaton Precious Metals's dividend payout ratio is currently 48.53%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on WPM shares. Royal Bank Of Canada increased 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. Wall Street Zen raised shares of Wheaton Precious Metals from a "hold" rating to a "buy" rating in a report on Monday, May 12th. BMO Capital Markets assumed coverage on shares of Wheaton Precious Metals in a research report on Wednesday, April 16th. They issued an "outperform" rating and a $129.00 price objective for the company. National Bankshares reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday, June 24th. Finally, UBS Group increased their target price on shares of Wheaton Precious Metals from $78.00 to $89.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $93.00.

Wheaton Precious Metals Company 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.

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