Wheaton Precious Metals Corp. $WPM Position Increased by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC grew its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 15.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,944 shares of the company’s stock after buying an additional 4,386 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Wheaton Precious Metals were worth $3,573,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in WPM. Norges Bank purchased a new stake in shares of Wheaton Precious Metals in the 2nd quarter valued at approximately $656,463,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Wheaton Precious Metals by 36.2% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,955,810 shares of the company’s stock worth $777,938,000 after purchasing an additional 1,847,977 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Wheaton Precious Metals by 53.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,197,048 shares of the company’s stock worth $469,459,000 after purchasing an additional 1,453,572 shares in the last quarter. Bank of Montreal Can raised its stake in Wheaton Precious Metals by 26.1% during the 3rd quarter. Bank of Montreal Can now owns 6,455,675 shares of the company’s stock valued at $722,270,000 after purchasing an additional 1,335,588 shares during the period. Finally, Invesco Ltd. raised its stake in Wheaton Precious Metals by 139.8% during the 2nd quarter. Invesco Ltd. now owns 2,085,042 shares of the company’s stock valued at $187,237,000 after purchasing an additional 1,215,660 shares during the period. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Performance

Shares of WPM opened at $114.37 on Friday. The firm has a market cap of $51.93 billion, a PE ratio of 35.30, a PEG ratio of 1.66 and a beta of 0.50. The firm’s 50 day moving average price is $143.36 and its 200 day moving average price is $120.50. Wheaton Precious Metals Corp. has a twelve month low of $68.03 and a twelve month high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last posted its earnings results on Thursday, March 12th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $0.91 by $0.31. Wheaton Precious Metals had a net margin of 63.58% and a return on equity of 17.17%. The company had revenue of $864.71 million during the quarter, compared to the consensus estimate of $719.59 million. During the same period in the previous year, the firm posted $0.44 earnings per share. The company’s revenue for the quarter was up 127.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Tuesday, March 31st will be issued a $0.195 dividend. This is a boost from Wheaton Precious Metals’s previous quarterly dividend of $0.17. This represents a $0.78 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, March 31st. Wheaton Precious Metals’s dividend payout ratio is currently 20.37%.

Wall Street Analyst Weigh In

WPM has been the subject of several recent analyst reports. TD Cowen raised their target price 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 reissued an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday, February 4th. Royal Bank Of Canada raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $115.00 to $130.00 in a research note on Wednesday, December 10th. Wall Street Zen upgraded Wheaton Precious Metals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 14th. Finally, Zacks Research cut Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Twelve analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Wheaton Precious Metals currently has a consensus rating of “Moderate Buy” and an average price target of $145.18.

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.