Pictet Asset Management Holding SA lifted its stake in Wheaton Precious Metals Corp. (NYSE:WPM – Free Report) by 20.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 298,718 shares of the company’s stock after acquiring an additional 51,323 shares during the period. Pictet Asset Management Holding SA’s holdings in Wheaton Precious Metals were worth $39,054,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WPM. Assetmark Inc. grew its holdings in Wheaton Precious Metals by 144.4% during the fourth quarter. Assetmark Inc. now owns 220 shares of the company’s stock valued at $26,000 after purchasing an additional 130 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its stake in shares of Wheaton Precious Metals by 100.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 234 shares of the company’s stock worth $27,000 after buying an additional 117 shares during the last quarter. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Wheaton Precious Metals in the fourth quarter worth $28,000. Navalign LLC bought a new stake in shares of Wheaton Precious Metals during the 4th quarter worth $30,000. Finally, Eagle Bay Advisors LLC bought a new stake in shares of Wheaton Precious Metals during the 4th quarter worth $32,000. 70.34% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts recently commented 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 on the stock. UBS Group decreased their price target on shares of Wheaton Precious Metals from $165.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday. TD Cowen raised their price target on Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Scotiabank lifted their price objective on Wheaton Precious Metals from $178.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Finally, TD Securities boosted their price objective on Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $154.73.
Wheaton Precious Metals Price Performance
NYSE:WPM opened at $112.21 on Wednesday. Wheaton Precious Metals Corp. has a one year low of $85.59 and a one year high of $165.76. The company has a fifty day moving average price of $127.17 and a 200 day moving average price of $132.84. The stock has a market cap of $50.96 billion, a P/E ratio of 28.34, a PEG ratio of 2.09 and a beta of 0.51.
Wheaton Precious Metals (NYSE:WPM – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share (EPS) for the quarter, topping 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 company had revenue of $901.47 million for the quarter, compared to analyst estimates of $868.35 million. During the same period last year, the business posted $0.55 EPS. The business’s quarterly revenue was up 91.7% on a year-over-year basis. As a group, equities research analysts anticipate that Wheaton Precious Metals Corp. will post 4.99 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 paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 0.7%. The ex-dividend date was Wednesday, May 27th. Wheaton Precious Metals’s payout ratio is currently 19.70%.
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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