OMERS ADMINISTRATION Corp Takes Position in Wheaton Precious Metals Corp. $WPM

OMERS ADMINISTRATION Corp bought a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 21,262 shares of the company’s stock, valued at approximately $2,782,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WPM. AQR Capital Management LLC purchased a new position in Wheaton Precious Metals in the first quarter valued at approximately $331,000. Focus Partners Wealth increased its position in shares of Wheaton Precious Metals by 10.7% in the first quarter. Focus Partners Wealth now owns 11,223 shares of the company’s stock worth $871,000 after acquiring an additional 1,081 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Wheaton Precious Metals in the first quarter worth $209,000. Sivia Capital Partners LLC purchased a new position in shares of Wheaton Precious Metals in the 2nd quarter valued at $239,000. Finally, Rhumbline Advisers lifted its holdings in shares of Wheaton Precious Metals by 28.3% during the 2nd quarter. Rhumbline Advisers now owns 2,952 shares of the company’s stock valued at $265,000 after acquiring an additional 652 shares in the last quarter. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Price Performance

Wheaton Precious Metals stock opened at $109.47 on Wednesday. Wheaton Precious Metals Corp. has a 12-month low of $90.39 and a 12-month high of $165.76. The company has a market capitalization of $49.72 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 2.02 and a beta of 0.55. The firm’s fifty day moving average price is $116.86 and its 200 day moving average price is $131.53.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. The firm had revenue of $901.47 million for the quarter, compared to analyst estimates of $868.35 million. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The firm’s revenue was up 91.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 EPS. Analysts forecast that Wheaton Precious Metals Corp. will post 4.73 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of Wheaton Precious Metals in a research report on Thursday, April 9th. They set an “outperform” rating and a $240.00 price target for the company. Bank of America reduced their price objective on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Royal Bank Of Canada lowered their target price on Wheaton Precious Metals from $165.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Finally, Jefferies Financial Group dropped their target price on Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $165.55.

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.