Wheaton Precious Metals Corp. (WPM) to Issue Quarterly Dividend of C$0.20 on June 9th

Wheaton Precious Metals Corp. (NYSE:WPM) declared a quarterly dividend on Thursday, May 7th. Shareholders of record on Wednesday, May 27th will be given a dividend of 0.195 per share on Tuesday, June 9th. This represents a c) annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Wednesday, May 27th.

Wheaton Precious Metals has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Wheaton Precious Metals has a payout ratio of 34.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Wheaton Precious Metals to earn $4.77 per share next year, which means the company should continue to be able to cover its $0.78 annual dividend with an expected future payout ratio of 16.4%.

Wheaton Precious Metals Stock Performance

NYSE WPM opened at $138.99 on Friday. The stock has a market capitalization of $63.12 billion, a P/E ratio of 35.10, a P/E/G ratio of 2.54 and a beta of 0.50. Wheaton Precious Metals has a 1 year low of $75.42 and a 1 year high of $165.76. The business’s fifty day moving average is $138.97 and its two-hundred day moving average is $126.88.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.04. The company had revenue of $901.47 million for the quarter, compared to analysts’ expectations of $868.35 million. Wheaton Precious Metals had a return on equity of 20.87% and a net margin of 65.55%.The firm’s revenue was up 91.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 earnings per share. On average, research analysts forecast that Wheaton Precious Metals will post 4.88 earnings per share for the current year.

Hedge Funds Weigh In On Wheaton Precious Metals

A number of hedge funds have recently modified their holdings of WPM. Norges Bank acquired a new position in shares of Wheaton Precious Metals in the fourth quarter worth $864,977,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Wheaton Precious Metals by 36.2% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,955,810 shares of the company’s stock worth $777,938,000 after acquiring an additional 1,847,977 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Wheaton Precious Metals by 40.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,912,588 shares of the company’s stock worth $694,951,000 after acquiring an additional 1,715,540 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Wheaton Precious Metals by 10.7% in the fourth quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company’s stock worth $1,700,517,000 after acquiring an additional 1,402,092 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Wheaton Precious Metals by 26.1% in the third quarter. Bank of Montreal Can now owns 6,455,675 shares of the company’s stock worth $722,270,000 after acquiring an additional 1,335,588 shares during the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.

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.