Wellington Management Group LLP acquired a new stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 174,384 shares of the company’s stock, valued at approximately $19,610,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank bought a new stake in shares of Wheaton Precious Metals in the fourth quarter worth $864,977,000. BlackRock Inc. bought a new stake in Wheaton Precious Metals during the second quarter valued at approximately $581,250,000. Canada Pension Plan Investment Board purchased a new stake in Wheaton Precious Metals during the second quarter valued at approximately $351,708,000. Bank of America Corp DE purchased a new stake in Wheaton Precious Metals during the second quarter valued at approximately $328,309,000. Finally, Legal & General Group Plc purchased a new position in shares of Wheaton Precious Metals during the 2nd quarter worth $320,838,000. Institutional investors own 70.34% of the company’s stock.
Wheaton Precious Metals Trading Down 0.0%
Shares of WPM stock opened at $154.94 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a fifty day simple moving average of $126.18 and a two-hundred day simple moving average of $131.44. The firm has a market capitalization of $70.37 billion, a PE ratio of 34.35, a PEG ratio of 2.74 and a beta of 0.60. Wheaton Precious Metals Corp. has a 52-week low of $92.57 and a 52-week high of $165.76.
Wheaton Precious Metals Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were issued a $0.195 dividend. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.78 dividend on an annualized basis and a yield of 0.5%. Wheaton Precious Metals’s payout ratio is currently 17.29%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the company. Bank of America reduced their price objective on Wheaton Precious Metals from $163.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. UBS Group decreased their price objective on Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Wall Street Zen cut Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings lowered shares of Wheaton Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Finally, Jefferies Financial Group decreased their target price 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. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Wheaton Precious Metals has a consensus rating of “Moderate Buy” and an average target price of $165.55.
View Our Latest Stock Report on Wheaton Precious Metals
About Wheaton Precious Metals
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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