Public Employees Retirement System of Ohio Makes New $2.34 Million Investment in Wheaton Precious Metals Corp. (NYSE:WPM)

Public Employees Retirement System of Ohio purchased a new stake in Wheaton Precious Metals Corp. (NYSE:WPM) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 38,218 shares of the company’s stock, valued at approximately $2,337,000.

Several other hedge funds have also recently modified their holdings of the business. FMR LLC increased its holdings in Wheaton Precious Metals by 33.7% during the third quarter. FMR LLC now owns 14,665,913 shares of the company’s stock valued at $895,723,000 after buying an additional 3,692,594 shares during the period. Canoe Financial LP bought a new stake in Wheaton Precious Metals during the 3rd quarter valued at $113,017,000. Barings LLC purchased a new position in shares of Wheaton Precious Metals in the 2nd quarter valued at $65,405,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Wheaton Precious Metals by 1,865.2% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,245,534 shares of the company’s stock worth $76,061,000 after acquiring an additional 1,182,156 shares in the last quarter. Finally, TD Asset Management Inc lifted its stake in shares of Wheaton Precious Metals by 22.5% during the 2nd quarter. TD Asset Management Inc now owns 5,950,317 shares of the company’s stock worth $311,920,000 after purchasing an additional 1,092,480 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Wheaton Precious Metals Trading Down 0.4 %

Shares of NYSE:WPM opened at $59.76 on Wednesday. Wheaton Precious Metals Corp. has a twelve month low of $38.57 and a twelve month high of $68.64. The company has a market cap of $27.11 billion, a PE ratio of 44.60, a price-to-earnings-growth ratio of 1.67 and a beta of 0.75. The company’s 50 day moving average is $63.00 and its 200 day moving average is $59.84.

Wheaton Precious Metals (NYSE:WPM) last released its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. The firm had revenue of $308.25 million for the quarter, compared to analyst estimates of $324.57 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. Equities research analysts predict that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.155 per share. The ex-dividend date was Thursday, November 21st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.04%. Wheaton Precious Metals’s payout ratio is currently 46.27%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WPM. Jefferies Financial Group boosted their target price on shares of Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Raymond James increased their target price on shares of Wheaton Precious Metals from $74.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. UBS Group began coverage on shares of Wheaton Precious Metals in a report on Monday, November 18th. They issued a “buy” rating and a $78.00 price target on the stock. National Bank Financial upgraded Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Finally, Stifel Canada downgraded Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $71.67.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.