Vanguard Group Inc. Increases Stake in Wheaton Precious Metals Corp. $WPM

Key Points

• Vanguard boosted its stake in Wheaton Precious Metals (WPM) by 1.5% to 19,079,029 shares, representing about 4.20% ownership worth approximately $2.243 billion at quarter-end.
• Wheaton reported a strong quarter, posting $1.22 EPS versus $0.91 expected and revenue of $864.71 million (vs. $719.59M consensus), with revenue up 127.3% year-over-year.
• The company raised its quarterly dividend to $0.195 (annualized $0.78, yield 0.6%), and analysts maintain a "Moderate Buy" consensus (13 Buys, 1 Hold) with an average target of $155.45.

Vanguard Group Inc. boosted its stake in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,079,029 shares of the company's stock after purchasing an additional 289,939 shares during the period. Vanguard Group Inc. owned about 4.20% of Wheaton Precious Metals worth $2,242,969,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of WPM. Nisa Investment Advisors LLC purchased a new position in shares of Wheaton Precious Metals in the third quarter worth $26,000. Assetmark Inc. increased its stake in shares of Wheaton Precious Metals by 144.4% in the fourth quarter. Assetmark Inc. now owns 220 shares of the company's stock worth $26,000 after buying an additional 130 shares during the period. Root Financial Partners LLC purchased a new position in shares of Wheaton Precious Metals in the third quarter worth $29,000. Eagle Bay Advisors LLC purchased a new position in shares of Wheaton Precious Metals in the fourth quarter worth $32,000. Finally, Triumph Capital Management purchased a new position in shares of Wheaton Precious Metals in the third quarter worth $33,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on WPM shares. Zacks Research downgraded shares of Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 5th. Scotiabank raised their target price on Wheaton Precious Metals from $175.00 to $178.00 and gave the stock a "sector outperform" rating in a research note on Monday, March 16th. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Wheaton Precious Metals in a research note on Wednesday, February 4th. TD Securities raised their target price on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a "buy" rating in a research note on Monday, March 16th. Finally, Wall Street Zen cut Wheaton Precious Metals from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 28th. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Wheaton Precious Metals presently has an average rating of "Moderate Buy" and an average target price of $155.45.

Wheaton Precious Metals Stock Down 3.8%

Shares of WPM stock opened at $124.58 on Thursday. The stock has a fifty day moving average of $140.79 and a 200 day moving average of $126.19. Wheaton Precious Metals Corp. has a 52 week low of $75.42 and a 52 week high of $165.76. The firm has a market capitalization of $56.57 billion, a price-to-earnings ratio of 38.45, a PEG ratio of 2.97 and a beta of 0.60.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings results on Thursday, March 12th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.31. Wheaton Precious Metals had a net margin of 63.58% and a return on equity of 17.17%. The company had revenue of $864.71 million during the quarter, compared to the consensus estimate of $719.59 million. During the same period in the prior year, the firm earned $0.44 earnings per share. Wheaton Precious Metals's revenue was up 127.3% on a year-over-year basis. Equities research analysts anticipate that Wheaton Precious Metals Corp. will post 4.72 earnings per share for the current year.

Wheaton Precious Metals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Tuesday, March 31st were paid a $0.195 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This is an increase from Wheaton Precious Metals's previous quarterly dividend of $0.17. This represents a $0.78 dividend on an annualized basis and a yield of 0.6%. Wheaton Precious Metals's payout ratio is currently 24.07%.

Wheaton Precious Metals Company 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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