Sumitomo Mitsui Trust Group Inc. Has $1.42 Million Stock Holdings in Wheaton Precious Metals Corp. $WPM

Sumitomo Mitsui Trust Group Inc. trimmed its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 32.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,852 shares of the company’s stock after selling 5,111 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Wheaton Precious Metals were worth $1,422,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Wheaton Precious Metals in the fourth quarter worth approximately $864,977,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Wheaton Precious Metals by 40.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,912,588 shares of the company’s stock valued at $694,951,000 after acquiring an additional 1,715,540 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Wheaton Precious Metals by 10.7% during 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 acquiring an additional 1,402,092 shares in the last quarter. Qube Research & Technologies Ltd raised its position in shares of Wheaton Precious Metals by 1,655.4% during the third quarter. Qube Research & Technologies Ltd now owns 1,245,766 shares of the company’s stock worth $139,333,000 after purchasing an additional 1,174,799 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Wheaton Precious Metals by 2,621.8% during the fourth quarter. AQR Capital Management LLC now owns 903,678 shares of the company’s stock worth $106,239,000 after purchasing an additional 870,476 shares during the period. 70.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

WPM has been the subject of several research reports. Wall Street Zen downgraded shares of Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. BMO Capital Markets assumed coverage on shares of Wheaton Precious Metals in a report on Thursday, April 9th. They set an “outperform” rating and a $240.00 price objective on the stock. Jefferies Financial Group dropped their price objective on shares of Wheaton Precious Metals from $182.00 to $177.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wheaton Precious Metals in a report on Monday, June 29th. Finally, Bank of America lowered their target price on shares of Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $161.09.

Wheaton Precious Metals Trading Up 0.1%

Shares of Wheaton Precious Metals stock opened at $108.59 on Thursday. The company has a market capitalization of $49.32 billion, a P/E ratio of 27.42, a price-to-earnings-growth ratio of 1.93 and a beta of 0.55. The stock has a fifty day simple moving average of $121.78 and a 200 day simple moving average of $132.28. Wheaton Precious Metals Corp. has a 12-month low of $87.96 and a 12-month high of $165.76.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.04. The business had revenue of $901.47 million for the quarter, compared to analysts’ expectations of $868.35 million. Wheaton Precious Metals had a return on equity of 20.20% and a net margin of 65.55%.The business’s revenue was up 91.7% on a year-over-year basis. During the same period last year, the business earned $0.55 EPS. On average, analysts predict that Wheaton Precious Metals Corp. will post 4.8 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

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%.

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.