Y Intercept Hong Kong Ltd Acquires New Stake in Wheaton Precious Metals Corp. $WPM

Y Intercept Hong Kong Ltd acquired a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the first quarter, HoldingsChannel reports. The firm acquired 134,234 shares of the company’s stock, valued at approximately $17,586,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Wheaton Precious Metals by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 19,079,029 shares of the company’s stock worth $2,242,969,000 after buying an additional 289,939 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Wheaton Precious Metals by 10.7% during the fourth quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company’s stock valued at $1,700,517,000 after buying an additional 1,402,092 shares during the period. Capital International Investors lifted its stake in shares of Wheaton Precious Metals by 1.2% during the fourth quarter. Capital International Investors now owns 7,595,725 shares of the company’s stock valued at $892,650,000 after buying an additional 93,599 shares during the period. Norges Bank acquired a new stake in Wheaton Precious Metals during the fourth quarter worth approximately $864,977,000. Finally, TD Asset Management Inc boosted its position in Wheaton Precious Metals by 0.5% during the fourth quarter. TD Asset Management Inc now owns 7,285,275 shares of the company’s stock worth $857,598,000 after acquiring an additional 33,221 shares during the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Performance

NYSE WPM opened at $115.58 on Friday. The firm has a market capitalization of $52.49 billion, a price-to-earnings ratio of 29.19, a PEG ratio of 2.10 and a beta of 0.55. Wheaton Precious Metals Corp. has a one year low of $85.59 and a one year high of $165.76. The company’s 50 day moving average price is $125.90 and its 200 day moving average price is $132.79.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.04. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The company had revenue of $901.47 million during the quarter, compared to analyst estimates of $868.35 million. During the same quarter in the prior year, the business earned $0.55 earnings per share. The business’s quarterly revenue was up 91.7% compared to the same quarter last year. Sell-side analysts forecast that Wheaton Precious Metals Corp. will post 4.99 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were given a $0.195 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.78 annualized dividend and a yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio (DPR) is 19.70%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Scotiabank boosted their price target on Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. TD Securities lifted their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, March 16th. BMO Capital Markets began coverage on Wheaton Precious Metals in a research note on Thursday, April 9th. They issued an “outperform” rating and a $240.00 target price for the company. Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Wheaton Precious Metals in a research note on Monday. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $154.73.

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.