Swiss National Bank Buys 325,200 Shares of Wheaton Precious Metals Corp. $WPM

Swiss National Bank increased its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 27.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,528,300 shares of the company’s stock after acquiring an additional 325,200 shares during the quarter. Swiss National Bank’s holdings in Wheaton Precious Metals were worth $200,314,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Assetmark Inc. boosted its position in shares of 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 purchasing an additional 130 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its holdings in Wheaton Precious Metals by 100.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock worth $27,000 after acquiring an additional 117 shares in the last quarter. Cary Street Partners Investment Advisory LLC bought a new position in Wheaton Precious Metals in the fourth quarter worth approximately $28,000. Cornerstone Planning Group LLC grew its stake in Wheaton Precious Metals by 245.5% in the first quarter. Cornerstone Planning Group LLC now owns 228 shares of the company’s stock valued at $29,000 after acquiring an additional 162 shares during the period. Finally, Navalign LLC bought a new stake in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $30,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. UBS Group cut their target price on Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. BMO Capital Markets started coverage on shares of Wheaton Precious Metals in a research note on Thursday, April 9th. They issued an “outperform” rating and a $240.00 price objective on the stock. Weiss Ratings downgraded shares of Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday. Wall Street Zen lowered shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Royal Bank Of Canada cut their price target on Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” 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 company’s stock. According to data from MarketBeat, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and an average price target of $161.09.

Wheaton Precious Metals Stock Performance

Shares of NYSE:WPM opened at $104.16 on Monday. The company has a market capitalization of $47.30 billion, a P/E ratio of 26.30, a price-to-earnings-growth ratio of 1.85 and a beta of 0.55. The company’s 50-day moving average is $120.54 and its 200 day moving average is $132.05. Wheaton Precious Metals Corp. has a fifty-two week low of $87.96 and a fifty-two week high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings data on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. The business had revenue of $901.47 million during 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 firm’s quarterly revenue was up 91.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.55 earnings per share. As a group, research analysts predict that Wheaton Precious Metals Corp. will post 4.82 earnings per share for the current year.

Wheaton Precious Metals Announces Dividend

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