Arizona State Retirement System Takes $900,000 Position in Wheaton Precious Metals Corp. $WPM

Arizona State Retirement System bought a new position in shares of Wheaton Precious Metals Corp. (NYSE:WPM) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 8,050 shares of the company’s stock, valued at approximately $900,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WPM. Vanguard Group Inc. lifted its position in Wheaton Precious Metals by 3.1% during the second quarter. Vanguard Group Inc. now owns 18,554,651 shares of the company’s stock valued at $1,668,582,000 after buying an additional 557,793 shares in the last quarter. Norges Bank purchased a new position in shares of Wheaton Precious Metals in the 2nd quarter valued at $656,463,000. Bank of Montreal Can lifted its holdings in shares of Wheaton Precious Metals by 10.3% during the 2nd quarter. Bank of Montreal Can now owns 5,120,087 shares of the company’s stock valued at $460,736,000 after acquiring an additional 478,236 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Wheaton Precious Metals by 0.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,107,833 shares of the company’s stock valued at $458,683,000 after acquiring an additional 35,047 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Wheaton Precious Metals by 12.8% during the 2nd quarter. Bank of America Corp DE now owns 4,481,459 shares of the company’s stock worth $402,435,000 after purchasing an additional 507,577 shares during the period. Institutional investors and hedge funds own 70.34% of the company’s stock.

Wheaton Precious Metals Stock Up 4.0%

Shares of NYSE WPM opened at $136.20 on Monday. Wheaton Precious Metals Corp. has a fifty-two week low of $66.01 and a fifty-two week high of $160.36. The business has a 50 day moving average price of $125.74 and a two-hundred day moving average price of $110.00. The firm has a market cap of $61.84 billion, a PE ratio of 61.91, a price-to-earnings-growth ratio of 1.21 and a beta of 0.52.

Wheaton Precious Metals (NYSE:WPM) last announced its earnings results on Thursday, November 6th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The company had revenue of $476.26 million for the quarter, compared to analyst estimates of $495.53 million. Wheaton Precious Metals had a return on equity of 13.32% and a net margin of 54.72%.Wheaton Precious Metals’s quarterly revenue was up 54.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 EPS. On average, analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current year.

Analysts Set New Price Targets

WPM has been the topic of several research reports. Royal Bank Of Canada raised Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $115.00 to $130.00 in a research report on Wednesday, December 10th. Zacks Research upgraded Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 27th. Wall Street Zen raised Wheaton Precious Metals from a “hold” rating to a “buy” rating in a research report on Sunday, January 18th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Wheaton Precious Metals in a research report on Wednesday. Finally, Scotiabank reiterated an “outperform” rating and set a $175.00 price objective on shares of Wheaton Precious Metals in a research note on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $140.44.

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.