Arizona State Retirement System Buys Shares of 8,050 Wheaton Precious Metals Corp. $WPM

Arizona State Retirement System bought a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,050 shares of the company’s stock, valued at approximately $900,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Wheaton Precious Metals by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 18,554,651 shares of the company’s stock worth $1,668,582,000 after purchasing an additional 557,793 shares during the last quarter. Norges Bank acquired a new position in shares of Wheaton Precious Metals in the second quarter worth $656,463,000. Bank of Montreal Can lifted its position in shares of Wheaton Precious Metals by 10.3% in the second quarter. Bank of Montreal Can now owns 5,120,087 shares of the company’s stock valued at $460,736,000 after acquiring an additional 478,236 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Wheaton Precious Metals by 0.7% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,107,833 shares of the company’s stock valued at $458,683,000 after acquiring an additional 35,047 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Wheaton Precious Metals by 12.8% during the second quarter. Bank of America Corp DE now owns 4,481,459 shares of the company’s stock valued at $402,435,000 after acquiring an additional 507,577 shares during the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Performance

WPM opened at $136.20 on Monday. Wheaton Precious Metals Corp. has a 1 year low of $66.01 and a 1 year high of $160.36. The company’s 50 day simple moving average is $125.74 and its 200 day simple moving average is $110.00. The stock has a market capitalization of $61.84 billion, a PE ratio of 61.91, a P/E/G ratio of 1.21 and a beta of 0.52.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Scotiabank reissued an “outperform” rating and issued a $175.00 target price on shares of Wheaton Precious Metals in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday. Royal Bank Of Canada upgraded shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $115.00 to $130.00 in a research report on Wednesday, December 10th. Weiss Ratings restated a “buy (b)” rating on shares of Wheaton Precious Metals in a research report on Monday, December 29th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $145.00 price target on shares of Wheaton Precious Metals in a report on Sunday, December 7th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $140.44.

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.