Wheaton Precious Metals Corp. $WPM Stock Position Lowered by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank reduced its stake in Wheaton Precious Metals by 13.6% in Q4, selling 34,106 shares and leaving it with 215,974 shares valued at about $25.42 million.
• Wheaton posted a strong quarter, reporting EPS of $1.22 versus $0.91 expected and revenue of $864.71 million (vs. $719.59M est.), a 127.3% year-over-year revenue increase—i.e., it beat estimates.
• The company raised its quarterly dividend to $0.195 (annualized $0.78, ~0.6% yield), and Wall Street sentiment is largely positive with a consensus rating of Moderate Buy and a $155.45 price target.

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 13.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 215,974 shares of the company's stock after selling 34,106 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Wheaton Precious Metals were worth $25,424,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Nisa Investment Advisors LLC acquired a new stake in Wheaton Precious Metals during the 3rd quarter worth about $26,000. Assetmark Inc. boosted its position in Wheaton Precious Metals by 144.4% during the 4th quarter. Assetmark Inc. now owns 220 shares of the company's stock worth $26,000 after acquiring an additional 130 shares during the period. Root Financial Partners LLC acquired a new stake in Wheaton Precious Metals during the 3rd quarter worth about $29,000. Eagle Bay Advisors LLC acquired a new stake in Wheaton Precious Metals during the 4th quarter worth about $32,000. Finally, Triumph Capital Management acquired a new stake in Wheaton Precious Metals during the 3rd quarter worth about $33,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Price Performance

WPM opened at $141.38 on Wednesday. Wheaton Precious Metals Corp. has a fifty-two week low of $75.42 and a fifty-two week high of $165.76. The business has a 50-day moving average of $141.82 and a 200-day moving average of $125.09. The company has a market capitalization of $64.20 billion, a PE ratio of 43.63, a price-to-earnings-growth ratio of 3.37 and a beta of 0.60.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last posted its quarterly earnings results on Thursday, March 12th. The company reported $1.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.31. Wheaton Precious Metals had a return on equity of 17.17% and a net margin of 63.58%.The company had revenue of $864.71 million during the quarter, compared to the consensus estimate of $719.59 million. During the same period last year, the business earned $0.44 EPS. The business's quarterly revenue was up 127.3% on a year-over-year basis. On average, equities research analysts expect that Wheaton Precious Metals Corp. will post 4.56 earnings per share for the current fiscal year.

Wheaton Precious Metals Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WPM. TD Cowen raised their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a "buy" rating in a research report on Monday, March 16th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. Weiss Ratings restated a "buy (b)" rating on shares of Wheaton Precious Metals in a research report on Monday, December 29th. UBS Group upgraded Wheaton Precious Metals from a "neutral" rating to a "buy" rating and set a $160.00 price objective for the company in a research report on Friday, March 27th. Finally, Scotiabank raised their price objective on Wheaton Precious Metals from $175.00 to $178.00 and gave the stock a "sector outperform" rating in a research report on Monday, March 16th. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $155.45.

About Wheaton Precious Metals

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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