Arrowstreet Capital Limited Partnership boosted its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 40.9% in the 4th quarter, HoldingsChannel reports. The fund owned 5,912,588 shares of the company’s stock after acquiring an additional 1,715,540 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Wheaton Precious Metals were worth $694,951,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in WPM. Assetmark Inc. grew its holdings in Wheaton Precious Metals by 144.4% during the 4th quarter. Assetmark Inc. now owns 220 shares of the company’s stock worth $26,000 after acquiring an additional 130 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its holdings in shares of Wheaton Precious Metals by 100.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock valued at $27,000 after buying an additional 117 shares in the last quarter. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Wheaton Precious Metals in the 4th quarter valued at $28,000. Navalign LLC acquired a new position in shares of Wheaton Precious Metals in the 4th quarter valued at $30,000. Finally, Eagle Bay Advisors LLC acquired a new position in shares of Wheaton Precious Metals in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 70.34% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on WPM shares. BMO Capital Markets started coverage on shares of Wheaton Precious Metals in a report on Thursday, April 9th. They issued an “outperform” rating and a $240.00 target price for the company. TD Securities upped their target price on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a report on Monday, March 16th. TD Cowen upped their target price on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a report on Monday, March 16th. Scotiabank upped their target price on shares of Wheaton Precious Metals from $178.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Finally, Zacks Research cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $155.64.
Wheaton Precious Metals Price Performance
WPM stock opened at $116.09 on Friday. The company has a fifty day moving average price of $132.81 and a 200 day moving average price of $131.73. Wheaton Precious Metals Corp. has a 12 month low of $85.59 and a 12 month high of $165.76. The company has a market cap of $52.72 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 2.19 and a beta of 0.51.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.24 by $0.04. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The firm had revenue of $901.47 million during the quarter, compared to the consensus estimate of $868.35 million. During the same quarter in the prior year, the firm earned $0.55 EPS. Wheaton Precious Metals’s revenue for the quarter was up 91.7% on a year-over-year basis. As a group, analysts anticipate that Wheaton Precious Metals Corp. will post 4.98 earnings per share for the current 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 given a $0.195 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $0.78 annualized dividend and a yield of 0.7%. Wheaton Precious Metals’s dividend payout ratio is 19.70%.
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.
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