Caisse DE Depot ET Placement DU Quebec Increases Position in Wheaton Precious Metals Corp. $WPM

Key Points

• Caisse de Depot et Placement du Quebec increased its holdings in Wheaton Precious Metals by 21.6%, now owning approximately 0.33% of the company valued at $115.25 million.
• Wheaton Precious Metals reported a 68.2% increase in revenue for the quarter, totaling $503.22 million, with EPS of $0.63 exceeding analyst estimates.
• The company announced a quarterly dividend of $0.165, representing an annualized yield of 0.7% with a payout ratio of 38.15%.

Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 21.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,485,326 shares of the company's stock after purchasing an additional 263,804 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.33% of Wheaton Precious Metals worth $115,245,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in WPM. Mackenzie Financial Corp lifted its stake in shares of Wheaton Precious Metals by 54.4% during the 4th quarter. Mackenzie Financial Corp now owns 3,223,154 shares of the company's stock worth $181,227,000 after purchasing an additional 1,135,699 shares during the period. Perpetual Ltd purchased a new position in shares of Wheaton Precious Metals during the 1st quarter worth $50,430,000. BLI Banque de Luxembourg Investments purchased a new position in shares of Wheaton Precious Metals during the 4th quarter worth $36,127,000. Nuveen LLC purchased a new position in shares of Wheaton Precious Metals during the 1st quarter worth $36,885,000. Finally, Two Sigma Investments LP raised its position in shares of Wheaton Precious Metals by 114.8% in the 4th quarter. Two Sigma Investments LP now owns 887,559 shares of the company's stock worth $49,916,000 after buying an additional 474,438 shares during the period. Hedge funds and other institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Trading Down 0.1%

NYSE:WPM traded down $0.11 during mid-day trading on Wednesday, hitting $96.59. The company had a trading volume of 1,821,512 shares, compared to its average volume of 1,882,168. The business has a fifty day simple moving average of $92.63 and a 200-day simple moving average of $83.55. Wheaton Precious Metals Corp. has a 1 year low of $55.47 and a 1 year high of $103.81. The firm has a market capitalization of $43.85 billion, a price-to-earnings ratio of 55.83, a PEG ratio of 2.66 and a beta of 0.39.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The company had revenue of $503.22 million for the quarter, compared to analyst estimates of $424.23 million. During the same period last year, the company posted $0.33 earnings per share. The firm's revenue was up 68.2% compared to the same quarter last year. As a group, research analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be given a $0.165 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.66 annualized dividend and a yield of 0.7%. Wheaton Precious Metals's dividend payout ratio (DPR) is 38.15%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Berenberg Bank increased their target price on Wheaton Precious Metals from $87.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. National Bankshares reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, June 24th. UBS Group set a $106.00 target price on Wheaton Precious Metals and gave the stock a "neutral" rating in a research report on Monday, August 11th. CIBC reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, July 15th. Finally, Wall Street Zen raised Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Wheaton Precious Metals currently has an average rating of "Moderate Buy" and an average target price of $97.33.

Wheaton Precious Metals Company 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.