Swiss National Bank Purchases 325,200 Shares of Wheaton Precious Metals Corp. $WPM

Key Points

• Swiss National Bank increased its stake in Wheaton Precious Metals by 27% in the first quarter, buying 325,200 additional shares and bringing its total holding to 1,528,300 shares worth about $200.3 million.
• Several analysts remain constructive on WPM despite some target cuts, with the stock carrying a Moderate Buy consensus and an average price target of $161.09. Twelve analysts rate it Buy, while one rates it Hold.
• Wheaton Precious Metals reported strong quarterly results, with EPS of $1.28 beating expectations and revenue rising 91.7% year over year to $901.47 million. The company also paid a quarterly dividend of $0.195 per share, or $0.78 annualized, for a 0.7% yield.

Swiss National Bank lifted its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 27.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,528,300 shares of the company's stock after acquiring an additional 325,200 shares during the period. Swiss National Bank owned approximately 0.34% of Wheaton Precious Metals worth $200,314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC bought a new position in shares of Wheaton Precious Metals in the 1st quarter valued at $331,000. Focus Partners Wealth grew its position in Wheaton Precious Metals by 10.7% in the first quarter. Focus Partners Wealth now owns 11,223 shares of the company's stock valued at $871,000 after acquiring an additional 1,081 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Wheaton Precious Metals during the first quarter worth about $209,000. Sivia Capital Partners LLC bought a new position in shares of Wheaton Precious Metals in the second quarter worth about $239,000. Finally, Rhumbline Advisers boosted its stake in shares of Wheaton Precious Metals by 28.3% in the 2nd quarter. Rhumbline Advisers now owns 2,952 shares of the company's stock valued at $265,000 after purchasing an additional 652 shares in the last quarter. 70.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Wall Street Zen cut shares of Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Royal Bank Of Canada lowered their price target on shares of Wheaton Precious Metals from $165.00 to $160.00 and set an "outperform" rating for the company in a report on Thursday, July 9th. UBS Group cut their price objective on Wheaton Precious Metals from $165.00 to $150.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. BMO Capital Markets started coverage on Wheaton Precious Metals in a report on Thursday, April 9th. They issued an "outperform" rating and a $240.00 target price for the company. Finally, Weiss Ratings downgraded Wheaton Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Wheaton Precious Metals presently has a consensus rating of "Moderate Buy" and an average price target of $161.09.

Wheaton Precious Metals Price Performance

Shares of WPM stock opened at $104.16 on Monday. The stock has a market capitalization of $47.30 billion, a PE ratio of 26.30, a PEG ratio of 1.85 and a beta of 0.55. The business's 50 day simple moving average is $120.54 and its 200 day simple moving average is $132.05. Wheaton Precious Metals Corp. has a one year low of $87.96 and a one year high of $165.76.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.24 by $0.04. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The firm had revenue of $901.47 million for the quarter, compared to the consensus estimate of $868.35 million. During the same quarter in the previous year, the company earned $0.55 EPS. The company's revenue for the quarter was up 91.7% on a year-over-year basis. As a group, research analysts expect that Wheaton Precious Metals Corp. will post 4.82 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Wednesday, May 27th. Wheaton Precious Metals's dividend payout ratio (DPR) is presently 19.70%.

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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