Wheaton Precious Metals Corp. $WPM Shares Bought by Brookstone Capital Management

Key Points

• Brookstone Capital Management increased its stake in Wheaton Precious Metals by 188% in the first quarter, bringing its holdings to 26,777 shares valued at about $3.5 million.
• Institutional ownership in WPM remains very high at 70.34%, with several large investors also boosting their positions recently.
• The company posted better-than-expected Q1 results, reporting EPS of $1.28 versus $1.24 expected and revenue of $901.47 million, while analysts maintain a Moderate Buy consensus with an average price target of $155.64.

Brookstone Capital Management lifted its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 188.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,777 shares of the company's stock after purchasing an additional 17,478 shares during the period. Brookstone Capital Management's holdings in Wheaton Precious Metals were worth $3,508,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Wheaton Precious Metals in the 4th quarter valued at approximately $864,977,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Wheaton Precious Metals by 36.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,955,810 shares of the company's stock worth $777,938,000 after buying an additional 1,847,977 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Wheaton Precious Metals by 40.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,912,588 shares of the company's stock valued at $694,951,000 after buying an additional 1,715,540 shares during the period. Van ECK Associates Corp raised its stake in Wheaton Precious Metals by 10.7% during the fourth quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company's stock worth $1,700,517,000 after acquiring an additional 1,402,092 shares during the period. Finally, Bank of Montreal Can boosted its stake in Wheaton Precious Metals by 26.1% in the third quarter. Bank of Montreal Can now owns 6,455,675 shares of the company's stock valued at $722,270,000 after acquiring an additional 1,335,588 shares during the period. Institutional investors and hedge funds own 70.34% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WPM. Scotiabank raised their price target on Wheaton Precious Metals from $178.00 to $180.00 and gave the stock an "outperform" rating in a report on Thursday, May 14th. BMO Capital Markets started coverage on Wheaton Precious Metals in a research report on Thursday, April 9th. They issued an "outperform" rating and a $240.00 target price on the stock. Zacks Research lowered Wheaton Precious Metals from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 5th. UBS Group raised shares of Wheaton Precious Metals from a "neutral" rating to a "buy" rating and set a $160.00 price target for the company in a research note on Friday, March 27th. Finally, Wall Street Zen cut Wheaton Precious Metals from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $155.64.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock opened at $112.59 on Thursday. Wheaton Precious Metals Corp. has a fifty-two week low of $85.59 and a fifty-two week high of $165.76. The company has a market cap of $51.13 billion, a P/E ratio of 28.43, a price-to-earnings-growth ratio of 2.19 and a beta of 0.51. The firm's 50 day simple moving average is $130.05 and its 200-day simple moving average is $132.74.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.04. The company had revenue of $901.47 million for the quarter, compared to the consensus estimate of $868.35 million. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The company's revenue was up 91.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.55 EPS. On average, analysts expect that Wheaton Precious Metals Corp. will post 4.99 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were issued a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, May 27th. Wheaton Precious Metals's payout ratio is currently 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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