Cibc World Market Inc. Buys 163,742 Shares of Wheaton Precious Metals Corp. $WPM

Cibc World Market Inc. increased its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 4.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,496,117 shares of the company’s stock after acquiring an additional 163,742 shares during the quarter. Cibc World Market Inc.’s holdings in Wheaton Precious Metals were worth $411,073,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. TD Asset Management Inc grew its stake in shares of Wheaton Precious Metals by 3.5% during the third quarter. TD Asset Management Inc now owns 7,252,054 shares of the company’s stock valued at $811,726,000 after purchasing an additional 244,027 shares during the last quarter. Varma Mutual Pension Insurance Co grew its stake in shares of Wheaton Precious Metals by 8.5% during the third quarter. Varma Mutual Pension Insurance Co now owns 207,358 shares of the company’s stock valued at $23,210,000 after purchasing an additional 16,300 shares during the last quarter. Sprott Inc. grew its stake in shares of Wheaton Precious Metals by 3.0% during the third quarter. Sprott Inc. now owns 1,151,886 shares of the company’s stock valued at $128,928,000 after purchasing an additional 33,076 shares during the last quarter. LBP AM SA grew its stake in shares of Wheaton Precious Metals by 632.2% during the fourth quarter. LBP AM SA now owns 119,855 shares of the company’s stock valued at $14,085,000 after purchasing an additional 103,485 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC bought a new stake in shares of Wheaton Precious Metals during the fourth quarter valued at approximately $2,052,000. 70.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Wheaton Precious Metals in a research note on Wednesday, February 4th. Zacks Research cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Wall Street Zen cut shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. TD Securities raised their price objective on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Finally, UBS Group raised shares of Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 price objective on the stock in a research note on Friday, March 27th. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Wheaton Precious Metals has an average rating of “Moderate Buy” and an average price target of $155.64.

Wheaton Precious Metals Stock Performance

Shares of WPM stock opened at $125.09 on Thursday. Wheaton Precious Metals Corp. has a 52-week low of $85.59 and a 52-week high of $165.76. The stock has a market cap of $56.80 billion, a PE ratio of 31.59, a PEG ratio of 2.46 and a beta of 0.51. The firm’s 50 day moving average price is $134.21 and its two-hundred day moving average price is $131.28.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $901.47 million for the quarter, compared to analysts’ expectations of $868.35 million. During the same period last year, the firm earned $0.55 earnings per share. The business’s revenue for the quarter was up 91.7% on a year-over-year basis. As a group, sell-side analysts predict that Wheaton Precious Metals Corp. will post 4.98 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th will be given a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio (DPR) is currently 19.70%.

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.