Van ECK Associates Corp Has $1.70 Billion Position in Wheaton Precious Metals Corp. $WPM

Van ECK Associates Corp increased its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM) by 10.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,469,877 shares of the company’s stock after purchasing an additional 1,402,092 shares during the quarter. Wheaton Precious Metals makes up about 1.4% of Van ECK Associates Corp’s portfolio, making the stock its 18th largest holding. Van ECK Associates Corp’s holdings in Wheaton Precious Metals were worth $1,700,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Royal London Asset Management Ltd. increased its position in Wheaton Precious Metals by 1.1% during the 4th quarter. Royal London Asset Management Ltd. now owns 421,800 shares of the company’s stock worth $49,570,000 after purchasing an additional 4,592 shares in the last quarter. Vontobel Holding Ltd. increased its position in Wheaton Precious Metals by 3.1% during the 4th quarter. Vontobel Holding Ltd. now owns 45,411 shares of the company’s stock worth $5,339,000 after purchasing an additional 1,373 shares in the last quarter. Storgate LLC acquired a new position in Wheaton Precious Metals during the 4th quarter worth approximately $413,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Wheaton Precious Metals during the 4th quarter worth approximately $63,000. Finally, Cohen & Steers Inc. increased its position in Wheaton Precious Metals by 5.4% during the 4th quarter. Cohen & Steers Inc. now owns 151,985 shares of the company’s stock worth $17,861,000 after purchasing an additional 7,787 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

Wheaton Precious Metals Stock Up 3.0%

WPM opened at $116.09 on Friday. The stock has a market cap of $52.72 billion, a PE ratio of 29.31, a price-to-earnings-growth ratio of 2.13 and a beta of 0.51. Wheaton Precious Metals Corp. has a twelve month low of $85.59 and a twelve month high of $165.76. The company has a fifty day moving average of $132.81 and a 200-day moving average of $131.73.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Thursday, May 7th. The company reported $1.28 earnings per share 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 analyst estimates of $868.35 million. During the same period last year, the firm 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 anticipate that Wheaton Precious Metals Corp. will post 4.98 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

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

Analyst Ratings Changes

Several brokerages have issued reports on WPM. Wall Street Zen cut shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. 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. 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. TD Cowen boosted their price objective on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Finally, BMO Capital Markets initiated coverage on shares of Wheaton Precious Metals in a research note on Thursday, April 9th. They issued an “outperform” rating and a $240.00 price objective on the stock. Thirteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $155.64.

Wheaton Precious Metals Company 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.