Wheaton Precious Metals Corp. $WPM Shares Purchased by Amundi

Key Points

• Amundi increased its Wheaton Precious Metals stake by 3.2% in the first quarter, adding 77,903 shares to own 2.53 million shares worth approximately $331.6 million. Institutional investors and hedge funds collectively own 70.34% of WPM.
• Analysts maintain a broadly positive outlook, with 12 Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and average price target of $165.55, despite several recent target reductions.
• Wheaton reported quarterly EPS of $1.28, topping estimates, while revenue surged 91.7% year over year to $901.47 million. The company also pays a quarterly dividend of $0.195 per share, representing a 0.7% yield.

Amundi boosted its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 3.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,531,060 shares of the company's stock after acquiring an additional 77,903 shares during the quarter. Amundi owned 0.56% of Wheaton Precious Metals worth $331,594,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of WPM. Parvin Asset Management LLC increased its stake in Wheaton Precious Metals by 0.6% during the 4th quarter. Parvin Asset Management LLC now owns 11,925 shares of the company's stock worth $1,401,000 after buying an additional 75 shares during the period. Johnson Investment Counsel Inc. boosted its position in Wheaton Precious Metals by 0.4% in the 4th quarter. Johnson Investment Counsel Inc. now owns 20,465 shares of the company's stock valued at $2,405,000 after buying an additional 75 shares during the period. Concurrent Investment Advisors LLC grew its stake in shares of Wheaton Precious Metals by 1.9% in the fourth quarter. Concurrent Investment Advisors LLC now owns 4,203 shares of the company's stock worth $494,000 after acquiring an additional 78 shares in the last quarter. Gables Capital Management Inc. grew its stake in shares of Wheaton Precious Metals by 7.9% in the fourth quarter. Gables Capital Management Inc. now owns 1,079 shares of the company's stock worth $127,000 after acquiring an additional 79 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of Wheaton Precious Metals by 0.3% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 27,105 shares of the company's stock worth $3,185,000 after acquiring an additional 86 shares during the period. 70.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Weiss Ratings cut Wheaton Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, July 16th. Scotiabank cut their price target on Wheaton Precious Metals from $180.00 to $175.00 and set a "sector outperform" rating on the stock in a report on Tuesday, July 14th. Royal Bank Of Canada reduced their price target on Wheaton Precious Metals from $165.00 to $160.00 and set an "outperform" rating on the stock in a research report on Thursday, July 9th. Berenberg Bank set a $157.00 price target on Wheaton Precious Metals in a research report on Tuesday. Finally, Bank of America decreased their price objective on Wheaton Precious Metals from $163.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $165.55.

Wheaton Precious Metals Stock Down 0.2%

WPM stock opened at $109.34 on Thursday. The business has a 50 day moving average price of $116.50 and a 200 day moving average price of $131.43. The stock has a market cap of $49.66 billion, a price-to-earnings ratio of 27.61, a PEG ratio of 1.98 and a beta of 0.55. Wheaton Precious Metals Corp. has a fifty-two week low of $90.39 and a fifty-two week high of $165.76.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $1.28 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 analyst estimates of $868.35 million. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The firm's revenue was up 91.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.55 earnings per share. As a group, sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 4.73 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.78 annualized dividend and a dividend yield of 0.7%. Wheaton Precious Metals's dividend payout ratio (DPR) is presently 19.70%.

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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