Deutsche Bank AG Buys New Position in Wheaton Precious Metals Corp. $WPM

Deutsche Bank AG bought a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) during the second quarter, HoldingsChannel.com reports. The fund bought 2,763,283 shares of the company’s stock, valued at approximately $310,372,000.

Several other hedge funds also recently modified their holdings of 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 raised its position in shares of Wheaton Precious Metals by 10.7% in 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 last quarter. 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 purchased a new position in shares of Wheaton Precious Metals during the fourth quarter valued at 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. 70.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WPM has been the subject of several recent analyst reports. UBS Group lowered their target price on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Scotiabank cut their price target on Wheaton Precious Metals from $180.00 to $175.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Weiss Ratings lowered Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Bank of America decreased their price objective on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Finally, Wall Street Zen downgraded Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Wheaton Precious Metals has an average rating of “Moderate Buy” and a consensus price target of $165.55.

Wheaton Precious Metals Price Performance

WPM stock opened at $132.69 on Wednesday. The company has a market cap of $60.26 billion, a PE ratio of 29.42, a price-to-earnings-growth ratio of 2.38 and a beta of 0.55. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average price of $116.80 and a two-hundred day moving average price of $130.20. Wheaton Precious Metals Corp. has a 12-month low of $90.94 and a 12-month high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The company had revenue of $878.00 million for the quarter, compared to the consensus estimate of $879.29 million. Wheaton Precious Metals had a return on equity of 21.97% and a net margin of 64.66%.The company’s quarterly revenue was up 84.7% compared to the same quarter last year. During the same period last year, the business posted $0.63 EPS. As a group, research analysts predict that Wheaton Precious Metals Corp. will post 4.79 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be issued a dividend of $0.195 per share. The ex-dividend date is Thursday, August 20th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.6%. Wheaton Precious Metals’s payout ratio is presently 17.29%.

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.