Perpetual Ltd Lowers Stock Position in Wheaton Precious Metals Corp. $WPM

Key Points

• Perpetual Ltd reduced its holdings in Wheaton Precious Metals by 10.6%, selling 68,922 shares, which leaves them with approximately 580,701 shares valued at $52,147,000.
• Wheaton Precious Metals reported a 68.2% increase in revenue year-over-year, totaling $503.22 million for the quarter, with an EPS of $0.63.
• The company announced a quarterly dividend of $0.165 per share, representing a 0.6% dividend yield and a payout ratio of 38.15%.

Perpetual Ltd lessened its stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 10.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 580,701 shares of the company's stock after selling 68,922 shares during the period. Perpetual Ltd owned about 0.13% of Wheaton Precious Metals worth $52,147,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mackenzie Financial Corp boosted its position in Wheaton Precious Metals by 54.4% in the fourth quarter. Mackenzie Financial Corp now owns 3,223,154 shares of the company's stock valued at $181,227,000 after buying an additional 1,135,699 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Wheaton Precious Metals by 57.6% during the first quarter. Canada Pension Plan Investment Board now owns 2,097,735 shares of the company's stock valued at $162,811,000 after purchasing an additional 766,947 shares during the period. Amundi increased its holdings in Wheaton Precious Metals by 33.2% in the 1st quarter. Amundi now owns 2,745,947 shares of the company's stock worth $215,557,000 after buying an additional 683,674 shares during the period. Nuveen LLC acquired a new stake in shares of Wheaton Precious Metals in the 1st quarter worth $36,885,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Wheaton Precious Metals by 10.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,072,786 shares of the company's stock valued at $393,800,000 after buying an additional 470,651 shares during the last quarter. 70.34% of the stock is owned by institutional investors.

Wheaton Precious Metals Stock Performance

Shares of Wheaton Precious Metals stock traded up $2.89 during trading on Friday, hitting $107.67. 8,717,457 shares of the company's stock were exchanged, compared to its average volume of 2,204,320. The stock has a market capitalization of $48.88 billion, a price-to-earnings ratio of 54.92, a PEG ratio of 2.91 and a beta of 0.42. Wheaton Precious Metals Corp. has a 52-week low of $55.47 and a 52-week high of $108.67. The business has a 50-day simple moving average of $97.53 and a 200-day simple moving average of $87.96.

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

Wheaton Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.66 annualized dividend and a yield of 0.6%. Wheaton Precious Metals's dividend payout ratio (DPR) is presently 38.15%.

Wall Street Analyst Weigh In

A number of research analysts have commented on WPM shares. Wall Street Zen upgraded Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research note on Monday, September 8th. National Bankshares reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, June 24th. Scotiabank boosted their target price on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 12th. Royal Bank Of Canada increased their price objective on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Finally, Berenberg Bank upped their price target on shares of Wheaton Precious Metals from $102.00 to $108.00 and gave the company a "buy" rating in a research report on Friday, September 12th. One investment 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $102.78.

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.