Sumitomo Mitsui Trust Group Inc. Buys 5,500 Shares of Wheaton Precious Metals Corp. $WPM

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 72.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,117 shares of the company’s stock after purchasing an additional 5,500 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Wheaton Precious Metals were worth $1,467,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nisa Investment Advisors LLC purchased a new position in shares of Wheaton Precious Metals during the 3rd quarter valued at about $26,000. Delta Asset Management LLC TN bought a new stake in Wheaton Precious Metals during the 2nd quarter worth approximately $27,000. City State Bank lifted its holdings in Wheaton Precious Metals by 40.0% during the second quarter. City State Bank now owns 560 shares of the company’s stock valued at $50,000 after purchasing an additional 160 shares in the last quarter. Pacifica Partners Inc. boosted its position in shares of Wheaton Precious Metals by 27.8% in the third quarter. Pacifica Partners Inc. now owns 460 shares of the company’s stock worth $51,000 after purchasing an additional 100 shares during the period. Finally, Advisors Asset Management Inc. bought a new position in shares of Wheaton Precious Metals in the second quarter worth approximately $70,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

Shares of WPM opened at $135.46 on Monday. The stock has a market capitalization of $61.50 billion, a price-to-earnings ratio of 61.57, a price-to-earnings-growth ratio of 1.31 and a beta of 0.52. Wheaton Precious Metals Corp. has a 1 year low of $56.70 and a 1 year high of $135.72. The business’s 50 day simple moving average is $114.55 and its 200-day simple moving average is $104.67.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.03. Wheaton Precious Metals had a net margin of 54.72% and a return on equity of 13.32%. The company had revenue of $476.26 million for the quarter, compared to analysts’ expectations of $495.53 million. During the same quarter in the previous year, the business posted $0.34 earnings per share. Wheaton Precious Metals’s quarterly revenue was up 54.5% on a year-over-year basis. On average, sell-side analysts expect that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, November 20th were issued a $0.165 dividend. The ex-dividend date of this dividend was Thursday, November 20th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.5%. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 30.00%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Royal Bank Of Canada upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $115.00 to $130.00 in a research report on Wednesday, December 10th. UBS Group raised their price target on Wheaton Precious Metals from $116.00 to $118.00 and gave the company a “neutral” rating in a report on Monday, December 1st. Raymond James Financial boosted their price objective on Wheaton Precious Metals from $114.00 to $127.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Wall Street Zen upgraded Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $145.00 price target on shares of Wheaton Precious Metals in a report on Sunday, December 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.78.

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.